Nov. 30, is the last trading day of the month, so all eyes will be on bitcoin’s (BTC) monthly candle. Bitcoin is less than 4% away from the psychological wall of $100,000. While the $9 billion worth of options expiry for bitcoin has just expired, which has sent the token slightly higher on the day to over $96,000.
CoinGlass data shows that November has been one of the strongest months for bitcoin for several years, currently up over 36%, which would be the fourth best performing month since October 2021.
November’s rise has only been beaten thrice February 2024 (44%), January 2023 (40%) and October 2021 (40%). November’s impressive performance is largely due to the fact that Donald Trump won the U.S. presidential election earlier this month.
Yet, bitcoin still has two more days until the official monthly close so there is still time to beat these milestones.
On a quarterly timeframe, bitcoin is currently up 51% on the quarter with December still to come, on average the month of December returns around 5%. Q4 2024 has been the strongest quarter since Q1 which returned 69%.
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