1) BTC price volatility builds momentum toward $100,000
Bitcoin experienced only a slight dip after its record-breaking weekly close, leaving bearish traders at a loss.
Above $90,000 as Wall Street opened the week, BTC/USD remains strong, up 30% this month, according to TradingView.
“So far, the usual weekly open bid has lifted price,” said popular trader Skew, noting BTC has held the 21-period EMA on 4-hour charts. Key levels this week are $90,000 and $91,300.
Trader CrypNuevo speculated on a push toward $95,000–$96,000 but warned about possible liquidations near $100,000, suggesting a spike close to this psychological level could reverse before hitting it.
To avoid consolidation, $87,000 must hold, CrypNuevo added. Meanwhile, others, like Crypto Chase, aim to buy dips in bullish conditions, targeting daily gaps around $83,000 for potential entries.
2) BTC price weekly close sets records
Bitcoin’s historic streak continues as last week marked its second consecutive record-high weekly close, just shy of $90,000.
Data from CoinGlass shows Bitcoin gained 11.8% for the week, with Q4 returns now surpassing 40%. November’s performance, while average by historical standards, still leaves room for surprises, traders believe.
“Historically, this kicks off 300+ days of upside,” noted CryptoAmsterdam, comparing previous bull cycles.
Skew predicts more record weekly closes, with BTC/USD targeting $93,500 highs reached earlier this month. Rekt Capital highlighted Bitcoin’s parabolic phase, which historically lasts around 300 days, noting Bitcoin is just 12 days into this stage.
3) Uncertainty over Fed’s next rate move
This week’s quiet U.S. economic data masks debate over future Federal Reserve policy.
With October’s inflation rising and unemployment climbing, the risk of “stagflation” complicates decisions on interest rate cuts. The CME Group’s FedWatch Tool indicates a 35% chance of no rate cuts in December.
“Lower rates were expected heading into 2025,” noted The Kobeissi Letter. “Now, the Fed seems to be reconsidering the pivot.”
Upcoming U.S. events include Nvidia earnings, key Fed speeches, and labor market data, all of which could influence markets. “The Fed must avoid stagflation, but history may be repeating itself,” Kobeissi warned.
4) Whales keep accumulating despite ETF fluctuations
Bitcoin whales and institutional investors are aggressively accumulating BTC as prices soar to new highs.
CryptoQuant data shows whale buying hasn’t slowed, with spot Bitcoin ETFs also seeing steady growth. Holdings rose from 629,900 BTC in January to 1,054,500 BTC, marking a 425,000 BTC increase in eight months.
“This accumulation trend supports upward price action,” said CryptoQuant contributor MAC_D, noting a clear link between ETF demand and Bitcoin’s recent price surges.
However, volatility persists. Data revealed net ETF outflows of $750 million over two days last week, following Bitcoin’s new all-time highs.
5) Crypto hype signals caution amid “FOMO”
Social media activity often signals Bitcoin market peaks, research shows.
Santiment found that BTC price runs correlate with social media “hype,” with speculative posts around $100,000 BTC spiking during Bitcoin’s $93,490 high.
“These FOMO signals should be a caution flag,” Santiment warned. The Crypto Fear & Greed Index hit 90/100 recently, nearing levels that historically precede market pullbacks.
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