Bitcoin’s (BTC) price has printed its biggest monthly candle ever, climbing over 40.8% in November and surpassing the $99,000 mark. This new milestone comes just over two weeks after Donald Trump’s election victory on Nov. 5, which spurred investor appetite for risk-on assets like Bitcoin (BTC).
Stablecoin Inflows Signal Market Optimism
On Nov. 22, stablecoin flows to crypto exchanges hit a record monthly high of over $9.7 billion, reflecting strong liquidity and bullish sentiment. The Crypto Fear & Greed Index also climbed to 88 ("extreme greed"), up from 85 last week, signaling growing optimism for a potential breach of $100,000.
Historical Trends Support Further Upside
November has historically been Bitcoin’s (BTC) most bullish month, with average returns of 46%, according to CoinGlass. With eight days remaining, analysts predict Bitcoin (BTC) could set new records before the month ends.
However, some caution remains. The last time the Fear & Greed Index hit 80+ in April, Bitcoin experienced an 18% correction within three weeks.
Bitcoin at $100K: A Hedge Against Inflation
Market analysts, including Marcin Kazmierczak, COO of RedStone, highlight Bitcoin’s potential as a hedge against inflation:
“Bitcoin's 0% inflation rate and limited supply make it a strong wealth generator, particularly when compared to gold’s centuries-long history as a store of value.”
Despite optimism, some experts, including Crypto.com CEO Kris Marszalek, warn that leverage in the crypto market may delay Bitcoin’s climb past the $100,000 milestone.
Market Update: Bitcoin currently trades at $98,567, just 1.5% away from crossing into six figures, according to Bitstamp data.
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