November 2024 has so far recorded a 34.17% price increase, making it the best November performance since 2020. While the monthly close is still pending, it is highly likely to end on a very positive note. This follows a strong February earlier this year, which saw an even larger monthly increase of 43.86%. Both months stand out as key highlights in a year where Bitcoin spent much of its time trading sideways within the $50k–$70k range.
ETF Inflows Contributing to Price Increases
One of the main factors behind November’s strong performance has been Bitcoin ETF inflows. Increased institutional participation through ETFs has provided additional demand, supporting price gains in both February and November. These inflows reflect growing interest from larger investors, which seems to be having a great effect on the market.
Written by maartunn
