Bitcoin Recaptures $90,000 as Strategists Forecast Bullish Rebound

Following weeks of severe corrections that pushed Bitcoin (BTC) as low as the $87,000 range, the cryptocurrency staged a crucial rebound on November 28th, moving decisively back above the $90,000 level.

This movement has spurred bullish forecasts from major technical strategists, signaling a potential end to the recent market turmoil.

Now, trading at approximately $91,615 by late Friday, Bitcoin has climbed over 8% in the week, recovering from its lowest point since April. This rally is seen as a sign of relief and a potential pivot point for the market.

The seasonal and technical turning point

According to some BTC price analysts the price action aligns perfectly with historical patterns. Historically, BTC bottomed around the end of November several times but had a strong upward move into year-end. This historical trend suggests that the period of intense seasonal selling pressure may be concluding.

Technically, the swift rebound indicates that Bitcoin was significantly oversold following its 27% drop from the early October high of $126,272.

The renewed buying interest, particularly over the U.S. Thanksgiving holiday weekend where crypto trading continued unabated, suggests that dip-buyers and long-term accumulators are regaining confidence.

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