Bitcoin may not see its usual November gains, with analysts predicting a period of consolidation due to mixed Federal Reserve signals. Odds of a December rate cut are below 70%, impacting investor sentiment in the crypto market. Bitcoin is down 11.09% in the last 30 days, currently trading at $103,000.

While some analysts foresee a quiet period for Bitcoin, historical data shows November is typically a strong month for the cryptocurrency, with an average gain of 41.78% since 2013. Optimistic traders believe that Bitcoin’s fundamentals remain strong, hinting at a potential rebound in the near future despite recent setbacks in October.

Despite a recent market crash erasing $19 billion in leveraged positions, analysts like Carl Runefelt and AshCrypto remain bullish on Bitcoin’s prospects for a green November. However, long-term holders are showing signs of uncertainty, with Bitfinex analysts warning of growing headwinds for bulls if the price does not recover above $116,000 soon.

Read more at Cointelegraph: Bitcoin May Not Deliver Moonvember As Hoped: Analysts