Meanwhile, Capriole Fund founder Charles Edwards stated that "common sense" cannot comprehend Bitcoin above $100,000, and when this mark is reached, retail FOMO will begin.

"A ton of supply is offloaded between $90,000 and $100,000 for this reason. Teleportation happens beyond $100,000 when the masses reconnect to FOMO".

On November 21, Lookonchain reported that whales continue to accumulate BTC even at peak prices. One whale accumulated 3,289 BTC worth over $300 million from Binance in the last two days and currently owns 25,010 BTC worth $2.37 billion.

Wednesday also became another important day for spot Bitcoin ETFs, as the IBIT fund from BlackRock received $628 million.