Bitcoin remains just below significant support levels amid trader expectations for exceptional performance this Thanksgiving. The popular cryptocurrency surged 13% recently, bouncing back from a multi-month low of $80,000 and rising past the $90,000 mark on Wednesday. This unexpected uptick enhances optimism for the upcoming Thanksgiving weekend.
Highlights:
- Bitcoin initiates a pre-Thanksgiving rally, countering its historical average of -0.8% during the holiday season.
- A reclaim of $100,000 to $105,000 is crucial to prevent a potential drop below the key level of $80,000.
BTC/USD Daily Chart. Source: TradingView/Cointelegraph
Data from Cointelegraph Markets Pro and TradingView revealed that the BTC/USD pair was priced at $91,400 on Thursday after a more than 5% rise on Wednesday.
“Look, we just had a bullish Wednesday too,” stated Charles Edwards, founder of Capriole Investments, alluding to his previous analysis indicating that the Wednesday prior to Thanksgiving typically yields bullish sentiment, typically followed by a downturn on Thursday.
Bitcoin thanksgiving history 🦃 pic.twitter.com/K3bUKNJc8V
— Tall (@tall_data) November 26, 2025
“We have never yet had a $100K Bitcoin Thanksgiving,” remarked fellow analyst Terence Michael on Wednesday, encouraging followers to remain vigilant regardless of price movements.
Traders are optimistic that Bitcoin may continue to rise through the holiday, defying its historical behavior on Thanksgiving Day. Over the past decade, Bitcoin has only increased on this day twice, with notable declines recorded in both 2018 and 2020. The average return reflects a -0.8%, as highlighted by analyst Crypto Daan Trades.
BTC/USD Thanksgiving Performance. Source: Daan Crypto Trades
Analysts are also assessing the potential peak Bitcoin could reach this Thanksgiving, trading currently just 4% short of its all-time high of over $95,000 observed on November 28, 2024. The focus remains on essential resistance levels between $91,000 and $93,000 as the cryptocurrency undergoes significant fluctuations.
In conclusion, uncertainty regarding interest rate policies and inflation expectations may cap Bitcoin’s ability to climb further in the short term.
