Bitcoin has shown a disappointing performance this November, experiencing a drop of 20.60%. Normally, this month sees gains, averaging 40.82% historically, which raises questions about current market trends.
Bitfinex analysts have noted significant factors influencing Bitcoin’s market outlook. They highlighted increasing activity from Bitcoin whales, suggesting a possible resurgence in demand amidst ongoing uncertainties in the market.
Short-term Bitcoin holders are facing losses, with prices falling below their average cost basis. Bitfinex highlights two paths ahead: a meaningful demand resurgence or a deeper accumulation phase without clear seasonal support.
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