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Bitcoin reclaimed the $90,000 level on Thanksgiving, a historically bullish move for the holiday. The broader crypto market followed suit, with Ethereum and other major altcoins posting significant gains, while analysts note the unusual nature of the pre-holiday rally.

Major crypto exchanges like Binance and Coinbase are experiencing record inflows of stablecoins, Bitcoin, and Ethereum following recent market corrections, signaling potential significant price movements ahead.

In this market update, Vincent Timmer analyzes Bitcoin’s current price action. He argues the higher timeframe trend remains bullish but outlines a ‘dream scenario’ of a final dip to grab liquidity before a potential run towards new all-time highs.

Bitcoin surged over 3% yesterday, its best day in six weeks, climbing past $91,000 and suggesting the recent downturn may have ended. Altcoins followed the rally, with Kaspa, known as ‘Bitcoin 2.0’, leading the top 100 with a 17% surge.

Bitcoin is down over 20% in November, potentially ending its three-year winning streak for the month. However, analysts point to historical patterns and on-chain data suggesting a potential rebound, presenting both risks and opportunities for traders.

U.S. Bank, the fifth-largest bank in the U.S., is developing a stablecoin on the Stellar network, joining other major financial institutions exploring digital currencies. The move is partly driven by new U.S. legislation, the GENIUS Act, which aims to regulate and encourage the use of dollar-pegged stablecoins.

Economists indicate that M2 money velocity is unlikely to surge again soon, potentially pressuring Bitcoin’s price short-term, though long-term recovery may follow policy shifts.

An expert claims that the Bitcoin bull market has ended and predicts a prolonged bear market, while others point to miner profitability and other indicators as signs of hope.

XRP’s open interest has plummeted to its lowest level in a year, signaling a significant drop in trader conviction despite a broader market rally. This decline in open positions raises concerns about sustained selling pressure, though some analysts see potential for a bullish reversal.

Cybercriminals are targeting Dutch crypto holders with a fake tax form designed to steal personal and address information, potentially leading to physical robberies and kidnappings.