【Blockchain News】🎉

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

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

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