【Blockchain News】🎉

Despite experiencing a brief turmoil last week, Bitcoin wraps up November on a high note! After a correction of 8.64%, BTC quickly rebounded to $96,506, setting a new monthly high. The overall increase for November reached 37.3%, making it the second-best performing month of 2024 so far.

Historical data shows that December is typically volatile for Bitcoin, but the average return rate over the past six months is as high as 38.86%. With the bullish market dynamics continuing, Bitcoin is expected to rise further. In the short term, outflows from ETF funds and profit-taking by long-term holders may bring volatility.

The supply of short-term holders is close to a cyclical peak, indicating increased retail participation. Whether the market can absorb the selling pressure from long-term holders will determine if Bitcoin can break the $100,000 barrier. What do you think? Feel free to share your thoughts in the comments!