Bitcoin experienced a significant rebound this week, climbing 17% from lows near $82,000 on November 21 to approach the $93,000 mark by November 28. Despite this recovery, the cryptocurrency struggled to surpass the pivotal $95,000 resistance level. The resurgence in the price coincided with notable inflows into Bitcoin exchange-traded funds (ETFs), which recorded a total of $221 million in net inflows between November 25 and November 28. Nevertheless, the failure to break the $95,000 threshold raised questions about the ongoing bullish sentiment in the market.
Compounding these concerns was a striking outflow of $117 million from BlackRock, the world’s largest asset manager, observed on November 28. Despite the day’s positive net inflow of $74 million, BlackRock’s outflow indicated a cautious stance among institutional investors, which has historically influenced market trends globally. This sentiment was further echoed by Strategy Inc., a company led by Michael Saylor. The firm did not make any Bitcoin purchases during the past week, marking the end of a continuous buying streak that had lasted for 14 weeks. Last documented, Strategy had acquired 8,178 BTC for a total of $836 million, bringing its total holdings to 649,870 BTC.
The uncertainty surrounding Bitcoin’s price trajectory is also reflected in prediction markets. Kalshi is currently embroiled in a lawsuit over allegations of market manipulation, which has contributed to a bearish outlook among traders. As of November 29, the odds of Bitcoin reclaiming the $100,000 mark by the end of 2025 dropped by 11%. Additionally, the likelihood of Bitcoin hitting $110,000 decreased by 7%, while bets that the cryptocurrency would close 2025 under $80,000 rose by 8%, reaching a total of 36%.
From a technical perspective, Bitcoin is attempting to establish a stable structure following its recovery from the $82,705 low. Current observations on the BTCUSD daily chart show the price hovering around $92,971. The Keltner Channel’s mid-band suggests a period of compression that may lead to a significant breakout. Early momentum indicators are beginning to show improvement, with the MACD line moving into positive territory for the first time since early November. Concurrently, the Woodies CCI has reclaimed the zero line, signifying potential renewed buying activity as traders seek to capitalize on dips.
However, traders remain cautious, as a decisive close above the $95,000 mark is essential for re-establishing bullish momentum and paving the way toward the coveted $100,000. Conversely, if Bitcoin fails to sustain the $90,000 support level over the weekend, it could face rapid liquidation, with a potential downtrend back toward $85,880 if consecutive daily closes fall below $89,500. This uncertainty highlights the delicate balance in Bitcoin’s market dynamics as traders navigate through mixed signals and external pressures.
