Mixed Fed Signals Stall Bitcoin’s November Rally
Bitcoin’s November rally may stall as macroeconomic uncertainty and mixed Federal Reserve signals drive a consolidation phase. The CME FedWatch tool shows only a 68% chance of a December rate cut, down from near 90%. Bitcoin has slid 11% over the past month, testing support around $103,000 and key resistance at $116,000. Failure to reclaim $116,000 could sap bullish momentum.
Despite the cautious outlook, historical data from CoinGlass highlights an average November gain of 41.78% since 2013. Traders including Dave Weisberger, Carl Runefelt and AshCrypto remain optimistic, citing strong fundamentals and expecting a rebound. Crypto traders aiming to trade the Bitcoin November rally should track Fed communications and key levels for signs of a breakout or further consolidation.
Neutral
The news highlights mixed Federal Reserve signals and macroeconomic uncertainty prompting a consolidation in Bitcoin’s price. Short-term traders may see range-bound moves between support at $103,000 and resistance at $116,000, while long-term holders note historical November strength but await clearer Fed guidance. This balance of caution and bullish potential points to a neutral impact on BTC’s price, as traders monitor key levels for a decisive breakout or deeper consolidation.