Bitcoin continued to show strength heading into the holiday period, reinforcing its long-term growth trajectory and signaling renewed confidence after a volatile month. The cryptocurrency climbed above $90,000 on Wednesday, marking a sharp rebound from last week’s $80,000 low.
Bitcoin’s latest recovery highlights persistent demand despite uneven market sentiment. It advanced more than 3% in the past 24 hours, reaching $91,800 at the time of writing. The move pushed weekly gains toward 6%, even though the asset remains 21% lower over the past month and trades 28% below its record high of $126,000.
Market analysts noted that holiday conditions typically restrict major market movements. Options positioning indicates that traders are fading volatility around the $85,000–$90,000 level, suggesting expectations for contained price action.
Sentiment was also influenced by the pre-Thanksgiving pattern on Wednesday. Historically, Bitcoin has struggled during this period, recording declines in six of the last seven years. Even so, the latest rally signals a potential shift in seasonal behavior, giving traders reason to revisit earlier assumptions about holiday-driven weakness.
Historical Trends Highlight Bitcoin’s Maturing Market
Bitcoin’s Thanksgiving price archive from 2010 to 2025 underscores profound growth in the price of the firstborn crypto. It traded near $0.28 in 2010, surged past $813 by 2013, and reached nearly $19,000 in 2020. It later skyrocketed to $58,927 in 2021 as institutional inflows accelerated.
This trend did not continue in subsequent years as Bitcoin collapsed to $16,353 in 2022, no thanks to the FTX crypto exchange collapse. Bitcoin rebounded to $37,035 on Thanksgiving 2023 and then soared to $95,531 in 2024, one of its strongest holiday readings. The 2025 figure of $91,000 demonstrates resilience despite a turbulent backdrop.
Long-term investors point to these milestones as evidence of a maturing asset. Analysts say the market absorbs shocks more efficiently than during earlier cycles. Even the fallout from past downturns, including the 2022 FTX collapse, no longer drives the same prolonged capitulation.
Analysts Flag Key Levels as Traders Eye $100K
Market watchers are split on whether the current momentum can sustain the push. Capriole Investments’ Charles Edwards noted Bitcoin’s recurring pattern: strength on the Wednesday before Thanksgiving followed by softer trading during the holiday. Daan Crypto Trades added that the average Thanksgiving performance remains slightly negative, reinforcing caution.
Others see room for continuation. Terence Michael highlighted that Bitcoin has never posted a $100,000 Thanksgiving and suggested traders remain alert for unexpected upside. However, analyst Jelle warned of resistance between $91,000 and $93,000, expecting sideways movement until markets reopen.
Brenda Kanana
The CoinRemark Team
