Bitcoin Poised for a “Promising New Year” Despite November’s Sharp Decline

As November wraps up, Bitcoin seems to be heading toward its worst monthly performance since 2019. Despite this downturn, analysts believe that this situation could create favorable conditions for a solid start to 2026, as many investors may choose to re-enter the market.

Key Takeaways

Bitcoin is expected to face its worst November performance since 2019, down nearly 16.9%.
Analysts suggest this decline may present a buying opportunity for investors.
November is typically a strong month for Bitcoin, with the current trend deviating from expectations.
Technical analysts are watching key price levels for Bitcoin's monthly close, particularly the $93,000 and $102,000 marks.

As the market continues to fluctuate, it will be interesting to observe how these developments impact the future of Bitcoin and cryptocurrency as a whole.

Bitcoin Poised for a “Promising New Year” Despite November’s Sharp Decline

“Although November will show losses for cryptocurrencies, the capitulation could offer a buying opportunity for savvy investors,” stated Nick Ruck, research director at LVRG, in an interview with Cointelegraph.

Currently, Bitcoin has fallen nearly 16.9% this month, with its price hovering around $91,500. This places it near the loss of 17.3% recorded in November 2019, according to data from CoinGlass. The most significant drop for Bitcoin in November occurred in 2018, when it plummeted by 36.5% in the wake of the bearish market following the market's 2017 peak. Last November, the cryptocurrency ended the month down by 16.2%.

Bitcoin likely to end November on a low note. Source: CoinGlass

Continued Optimism for Bitcoin in the Long Run

Typically, November is known to be one of Bitcoin's strongest months. However, crypto educator Sumit Kapoor noted on Wednesday that with just a few days left in the month and a slow Thanksgiving weekend ahead, “it’s on track to be the worst November since 2018.”

Justin d’Anethan, head of research at the private markets advisory firm Arctic Digital, explained that most crypto investors are accustomed to a recurring four-year cycle. Historically, this has led to rallies towards year-end, with October, November, and often December showing positive performance.

He attributed the earlier onset of this cycle to the introduction of spot Bitcoin exchange-traded funds in the U.S. at the beginning of 2024.

“I perceive this as a positive sign,” d’Anethan added, “as it indicates a potentially transformative situation where institutions have finally stepped in significantly, altering the dynamics, scale, and timing of cryptocurrency price movements.”

Key Levels to Monitor for Bitcoin's Monthly Close

Technical analysts are focusing on Bitcoin to close the month with a candle at around $93,000, indicating potential for further declines if momentum fails over the weekend.

“As we near the monthly close, I’ve pinpointed two critical levels to watch: $93,401 and $102,437,” an analyst known as "CrediBull Crypto" stated on X. The analyst noted that a close above $93,000 would signal positivity, while a close exceeding $102,000 would be incredibly bullish, albeit possibly needing to wait until next month for this to materialize.

Maintaining higher lows could preserve the long-term uptrend. Source: CrediBull Crypto

At the time of writing, Bitcoin was valued at $91,600, showing little movement over the past 24 hours and struggling to surpass resistance just under $92,000 on Thursday.