Bitcoin has made history with its largest monthly price increase ever, as it inches closer to a six-figure valuation for the first time.
In November, Bitcoin’s price surged by over 40.8%, reaching $99,000 and marking a record-breaking monthly candle, according to Bitstamp data.
This milestone comes just two weeks after Donald Trump’s victory in the 2024 U.S. presidential election on Nov. 5, which reignited investor interest in risk-on assets like Bitcoin.
Analysts are increasingly optimistic that Bitcoin will soon breach the $100,000 mark.
On Nov. 22, stablecoin inflows to crypto exchanges hit a record monthly high of $9.7 billion, signaling strong market confidence in Bitcoin’s price trajectory as 2025 approaches.
November’s Bullish Momentum
November, historically Bitcoin’s most bullish month, has delivered average returns of over 46%, according to CoinGlass data.
With eight days remaining in the month, Bitcoin could see further gains.
Investor sentiment also reflects growing optimism.
The Crypto Fear & Greed Index rose to 88, indicating “extreme greed,” up from 85 last week, per CoinMarketCap data.
However, past instances of high greed scores have preceded market corrections.
For example, when the index hit 80 in April 2024, Bitcoin dropped 18% over three weeks, from above $69,135 to a low near $56,500.
Bitcoin as a Hedge Against Inflation
The anticipated move to $100,000 is fueled by Bitcoin’s utility as a hedge against inflation, explained Marcin Kazmierczak, co-founder of RedStone.
“Buying Bitcoin as a hedge against inflation makes fundamental sense, since BTC as an asset has 0% inflation thanks to stiff supply,” Kazmierczak stated, emphasizing its value compared to gold.
Despite the bullish outlook, industry leaders like Crypto.com CEO Kris Marszalek caution that market deleveraging may be necessary before Bitcoin surpasses $100,000.
The path to six figures may not be without volatility, but optimism remains high as Bitcoin’s utility and market momentum continue to grow.
