10x Research Founder and CEO Markus Thielen said today: “Bitcoin is consolidating ahead of the Thanksgiving long weekend as traders expect implied volatility to decrease.” He added that Bitcoin has a historical trend of weakening at the end of the month, which “helps alleviate its overbought technical condition.” Thielen stated that broader macroeconomic factors, such as strong economic growth data, could lead to the Federal Reserve maintaining interest rates in December, surprising the market and affecting high-risk assets, but he remains optimistic for the coming weeks, “Despite these short-term headwinds, we still believe Bitcoin will break the $100,000 milestone in the coming weeks and remain optimistic for 2025.” (Cointelegraph)