Odaily Planet Daily reports that Bitfinex Alpha indicates that despite experiencing some brief turmoil last week, Bitcoin closed November on a high note. BTC experienced its largest pullback since the U.S. elections, dropping 8.64% during the week to $90,911, before quickly rebounding to a record monthly closing price of $96,506. By the end of November, Bitcoin finished with an impressive 37.3% gain, making it the second-best month of 2024 so far. This outstanding performance continues to highlight Bitcoin's strong momentum, positioning it favorably as we enter December. Historically, December has been a turbulent month for Bitcoin, but in years with halving events, the asset has seen an average return of up to 38.86%. Given the current bull market dynamics, Bitcoin is expected to rise further, although volatility may occur in the short term. Any short-term pullback could be triggered by ETF fund outflows and profit-taking from Long-Term Holders (LTH). Interestingly, the supply of Short-Term Holders (STH) is nearing its cycle peak of 3,282,000 BTC. Historically, the last phase of a bull market begins when STH supply exceeds the pre-halving cycle peak. This shift indicates increasing retail participation but also highlights the market's reliance on upcoming demand to absorb LTH profit-taking. If short-term holder demand can meet long-term holder supply, BTC will break through $100,000.

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