30s Summary

Bitcoin experienced a drop of over 3% on November 25, coinciding with the opening of Wall Street and despite some geopolitical positive news. Meanwhile, MicroStrategy bought Bitcoin worth $5.5 billion, which usually triggers a further dip. Material Indicators suggested Bitcoin is scouting out support after its quick rise and high asks. The total cross-crypto liquidations sat at around $430 million over the 24 hours. Meanwhile, odds of Bitcoin hitting $100,000 this month dropped after the recent dip, but bets on Bitcoin reaching the $100,000 mark before 2025 remain at 75%.

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Bitcoin (BTC) experienced a drop of more than 3% on November 25th. This was a bit of a surprise to those trading, but some have advised not to panic over this slight dip.

The drop happened after Wall Street opened and Bitcoin hit a low of $94,600 on Bitstamp. People were hoping for a bit of a lift after its first fall below $96,000 but despite even some positive news, including a ceasefire agreement between Israel and Hezbollah, Bitcoin’s mood remained down.

Unlike Bitcoin, U.S. stocks were seeing a bit of an increase at the time. On another note, MicroStrategy, a business intelligence and software firm, announced they’d bought Bitcoin worth $5.5 billion over the week ending on November 24th. This sort of move usually triggers a further dip when it’s confirmed.

Some trading resources have been taking a longer view. Material Indicators, for example, suggested that after its speedy rise since election day and loads of Bitcoin asks turning up around the $100k mark, it shouldn’t come as much of a surprise that it’s scouting out support. One of its X posts revealed a chart with important liquidation levels on Binance, the largest global exchange.

The total cross-crypto liquidations sat around $430 million over the 24 hours following the time of writing, according to data from CoinGlass.

Prominent trader BitQuant offered some reassurance in one of their X posts, stating if you really get what’s in store for Bitcoin long-term, these little dips shouldn’t unnerve you. They advised staying cool, observing the market, and making a note of emotions to spot future patterns.

As for predictions of Bitcoin hitting $100,000 this month, the recent dip seemed to dampen those. Kalshi reported that bets on reaching the $100,000 mark before the end of November dropped to 42% at the time of writing, down from 85% just a couple of days before that. Interestingly though, people betting on Bitcoin reaching the $100,000 mark before 2025 remained higher at 75%.

Remember though, this isn’t investment advice or recommendations. Every investment comes with risk, so make sure to do your homework before making a decision.