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According to historical data, November has averaged a remarkable +42.51% return for Bitcoin. The previous month, however, closed in the red, with Bitcoin slipping 3.69% in October in its worst “Uptober” since 2018.
Despite that, the start of November has rekindled bullish hopes. A 42% rally from current levels could see Bitcoin approach $156,000, marking a strong recovery from recent dips.
Currently, Bitcoin is trading at around $101,537, with a 0.68% decline over the past 30 days. Its market capitalization exceeds $2 trillion, accounting for roughly 59% of the entire crypto market.
Meanwhile, the market’s metrics show caution. The total market cap is $3.41 trillion, down nearly 2%, while the Fear & Greed Index sits at 24, signaling fear among investors. This sentiment could, however, set the stage for a rebound if confidence returns.
 
Technically, Bitcoin’s moving averages hover between $109K and $113K, while the RSI remains neutral near 45, hinting at room for a potential breakout. Support lies around $103,000, with resistance near $126,000.
Beyond technicals, institutional activity continues to influence Bitcoin’s price. Reports indicate that 172 public companies collectively hold over 1 million BTC, highlighting the growing adoption of cryptocurrency by corporations.
Moreover, U.S. spot Bitcoin ETFs have seen steady inflows, and France’s proposal for a national Bitcoin Strategic Reserve signals rising institutional interest in Europe. Macro indicators, from inflation data to the Fed’s rate outlook, will also influence momentum.
As it stands, Whales are accumulating BTC, DEVS are looking forward to Bitcoin Core 30 and expanding DeFi integrations, and all eyes are now on whether BTC will deliver again.