The hashtag is related to significant movements in the price of Bitcoin during the Thanksgiving holiday. This period can see fluctuations in the cryptocurrency market due to several factors, such as lower trading volume, decisions by investors who take advantage of the holiday to reevaluate their portfolios, or even specific events that impact the market.
If you are following or investing in Bitcoin, it is always interesting to observe how these festive periods can influence the market.
$BTC
During the last Thanksgiving holiday, the price of Bitcoin experienced a significant 9% drop, falling from a record high of $99.5K to $90.7K. This move was mainly attributed to panic selling by short-term holders, who liquidated around $4 billion worth of Bitcoin between November 25 and 26. However, after this drop, the price of Bitcoin stabilized above $93K.
Bitcoin has historically seen volatility during the Thanksgiving holiday, with significant price movements both up and down.2 Are you following the cryptocurrency market closely?