Bitcoin (BTC) closes the month under $90,000 with traders hoping for a recovery above $100,000. Speculators are absorbing coins from long-term holders, changing investor cohorts. Thanksgiving week brings data-rich period for risk assets, with crypto sentiment rebounding as stocks sink into “extreme fear.”

BTC price remains uncertain as it hovers near $88,000. Traders split between bearish predictions and optimism for a rally towards $105K-$110K. Bitcoin faces a key test as it emerges from a “death cross” on daily timeframes, with implications for market cycle and recovery needed.

Data suggests BTC supply is moving from long-term to short-term holders, with newcomers absorbing coins from sellers. Speculators caught off guard by market drawdown as spent output profit ratio reaches 15-month lows. Thanksgiving week brings economic data releases impacting market sentiment and asset performance.

Crypto market sentiment rebounds as stocks hit “extreme fear,” with Fear & Greed Index doubling from its lowest levels. Bitcoin’s sentiment on social media hits lowest point since 2023, with retail investors panic selling. Correction in crypto and stocks attributed to leverage and liquidations, not clear news trigger.

Read more at CoinTelegraph.: Is Bitcoin Back? BTC Price Bets Refocus Above $90,000