Bitcoin Surges Back Above $90,000 Amid Quiet Pre-Thanksgiving Trading

Published: 2025-11-27 15:42:46 |

Bitcoin reclaimed the $90,000 level during thin pre-Thanksgiving trading, rising about 4% in 24 hours to roughly $90,785 and recovering approximately 12% from last week’s low near $80,000. Despite the bounce, BTC is still down 4% for the week, 21% for the month and about 28% below its all-time high of $126,000. Options flow shows traders selling calls and strangles concentrated around the $85,000–$90,000 range, indicating expectations of a range-bound market and limited major moves during the holiday. Historical context: the Wednesday before Thanksgiving has often been weak for Bitcoin (declines in six of the past seven years), though 2024’s Thanksgiving hit a record $95,737. Media sentiment remains mixed with continued sceptical coverage from outlets like the Financial Times. Key takeaways for traders: low holiday volumes can amplify moves but current options positioning signals limited directional conviction; watch volume, open interest and option skew for confirmation before trading breakouts.

Neutral

The categorization is neutral because the price move is a short-term recovery within a limited-volume holiday session, not supported by strong directional indicators. Bitcoin’s 4% intraday gain and 12% recovery from last week’s low show resilience, but weekly and monthly performance remain negative and the asset is significantly below its all-time high. Options data—selling of calls and strangles around $85k–$90k—signals traders expect range-bound action rather than a trending breakout. Historical patterns (weak pre-Thanksgiving sessions) and mixed media sentiment further temper bullish conviction. Short-term impact: potential for short squeezes or amplified moves on low liquidity; traders should watch volume, open interest, and option skew for breakout confirmation. Long-term impact: this price bounce alone is insufficient to change macro trend; durable bullishness would require sustained higher volumes, improving on-chain metrics, or macro/institutional catalysts.