Thanksgiving

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.

The crypto market is up three percent, driven by positive sentiment ahead of Thanksgiving and expectations of a Fed rate cut in December. Tech stocks and ETF inflows also support the rise.

This article examines the so-called ‘crypto-Thanksgiving effect,’ questioning its validity as a market driver. It analyzes Bitcoin’s historical performance during the Thanksgiving period and discusses potential market patterns for the current year, concluding that the holiday itself has little direct impact on crypto prices.