A new all-time high of $100,000 for Bitcoin may arrive as soon as November, based on historical patterns and a surge in investor interest following the recent U.S. presidential election.
The cryptocurrency recently crossed a major threshold of $90,000 on November 13, following Donald Trump’s victory in the 2024 election, sparking renewed enthusiasm among investors.
With a remarkable over-100% increase this year, Bitcoin has been outpacing traditional assets, noted Ryan Lee, lead analyst at Bitget Research.
November has typically been Bitcoin’s best-performing month, and analysts believe BTC could be set to hit $100,000 before it ends. According to Lee, “If Bitcoin continues to perform as it has historically, a 14.7% increase from its current level would comfortably push it past the $100,000 mark. This aligns well with the positive post-halving cycle.”
Bitcoin has already gained more than 20% in November alone, though it historically sees monthly gains over 44%, based on CoinGlass data.
The latest rally comes after Bitcoin’s strongest weekly gain since the U.S. banking crisis in March 2023, with the cryptocurrency hitting a fresh peak of $90,000.
Bitcoin to $100,000 within the Next Few Months — Bitfinex Analysts
Several analysts are confident in Bitcoin’s momentum extending into 2025. Bitfinex analysts suggest Trump’s win may accelerate crypto adoption in the U.S., creating favorable conditions for Bitcoin to cross the $100,000 mark soon. They stated, “While price forecasting is speculative, Bitcoin’s downside seems limited, with economic recession concerns easing and a bullish trend strengthening. In our view, a target of $100,000 within the next few months is realistic.”
Bitfinex further explained that in addition to Trump’s presidency, factors such as anticipated interest rate cuts in the U.S. and the lower supply of Bitcoin following the 2024 halving event are also driving expectations of a potential breakout.
Do Crypto Markets Need Deleveraging Ahead of Bitcoin’s $100,000 Rally?
While optimism is high, the market may need to go through a deleveraging phase before Bitcoin can confidently breach the $100,000 level.
High leverage ratios—a measure of borrowed funds for trading—are becoming a concern, warned Kris Marszalek, CEO of Crypto.com. Marszalek shared on November 12 via X: “Leverage needs to be reduced before aiming for $100k. Risk management is key.”
CryptoQuant data shows Bitcoin’s leverage ratio across exchanges is currently at 0.215, a level last seen in October 2023, indicating potential market instability if not adjusted.
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