W3BStation
Markets
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
11/27/2025

Bitcoin Surges to 7-Day High: Can It Break $95,000 Over the Thanksgiving Holiday? 🦃📈

Bitcoin posted a strong bounce heading into the Thanksgiving holiday, rallying 13% from a multi-month low around $80,000 and reclaiming the psychological $90,000 level on November 27. It's a notable recovery after a stretch of sluggish trading, and it has the market asking: can Bitcoin keep climbing and log its highest-ever Thanksgiving candle close? Bitcoin Surges Unexpectedly Ahead of Thanksgiving TradingView data shows BTC/USD trading around $91,400 on November 28, after jumping more than 5% in the prior session. The move comes against a historically bearish backdrop — Bitcoin has averaged just

Bitcoin Surges to 7-Day High: Can It Break $95,000 Over the Thanksgiving Holiday? 🦃📈

Bitcoin posted a strong bounce heading into the Thanksgiving holiday, rallying 13% from a multi-month low around $80,000 and reclaiming the psychological $90,000 level on November 27. It's a notable recovery after a stretch of sluggish trading, and it has the market asking: can Bitcoin keep climbing and log its highest-ever Thanksgiving candle close?

Bitcoin Surges Unexpectedly Ahead of Thanksgiving

TradingView data shows BTC/USD trading around $91,400 on November 28, after jumping more than 5% in the prior session. The move comes against a historically bearish backdrop — Bitcoin has averaged just –0.8% on Thanksgiving Day over the past 10 years.

That said, analysts believe this year could be different.

Capriole Investments founder Charles Edwards noted that Bitcoin tends to rise on the Wednesday before Thanksgiving but typically pulls back on Thursday itself. Even so, this week's strong rally has raised expectations that BTC could break from that historical pattern.

Can BTC Reach $95,000 — or Higher?

Bitcoin is currently testing the key resistance zone of $91,000–$93,000 following what trader Jelle called "the first strong bounce in weeks." With U.S. markets closed for Thanksgiving, Jelle expects price to chop sideways before volatility picks back up over the weekend.

Meanwhile, other analysts have their eyes on a bigger milestone: the highest-ever Thanksgiving candle close above $95,000.

"We've never had a Thanksgiving with Bitcoin above $100,000," analyst Terence Michael pointed out. "Be ready for anything."

Risks Remain: Market Structure Is Still "Fragile"

Despite the short-term optimism, on-chain indicators suggest the market hasn't fully healed.

According to Glassnode, Bitcoin has lost its 50-week moving average and key cost-basis levels, leaving its price structure "vulnerable" — a setup reminiscent of early 2022, when the market entered a prolonged downtrend.

Glassnode also highlighted:

  • Short-term holder (STH) loss ratios are declining sharply
  • Market liquidity remains thin
  • Fresh capital inflows are still limited

If Bitcoin fails to mount a convincing recovery, price could break below the True Market Mean around $81,000.

The Level That Determines the Trend: $100,000 – $105,000

On the upside, reclaiming a bullish structure requires Bitcoin to take back the $100,000–$105,000 zone, which coincides with:

  • The STH Realized Price
  • The 50-week moving average

Both have acted as strong support in previous cycles. Reclaiming this area would confirm a new uptrend and significantly reduce the risk of BTC sliding back toward $80,000.

Conclusion: Breakout or Stall?

Bitcoin is at a pivotal moment. The pre-Thanksgiving rally has sparked real optimism, but macro headwinds — including interest rate policy, inflation expectations, and weakness in derivatives markets — remain short-term constraints.

If Bitcoin holds its momentum and clears $93,000, the next targets are $95,000 and then $100,000. Failing to hold this zone, however, could send BTC back to test lower support levels.