Bitcoin Price Today: Thanksgiving Rally Lifts BTC Back Above $91,500

The crypto market today is roaring ahead of Thanksgiving, adding more than $130 billion in the last 24 hours and reclaiming the $3.2 trillion mark. 

Bitcoin price led the move, jumping to around $91,500 early Thursday. This was largely expected, as holiday periods like Thanksgiving often lead to small, low-volume price boosts.

Traders warn that volatility will likely remain quiet until Sunday, making this a time for patience. After such a sharp move up, fresh long positions are risky, while shorts still require proper confirmation. Many are simply watching major key support levels as the holiday calm sets in.

Analysts like Michaël van de Poppe view the break above $90,000 as encouraging but caution that consolidation is needed before another surge.

Short-term traders are eyeing the $91,000–$92,000 region for a possible short setup later this week, while others would prefer a healthy retest around $88,000 to strengthen the trend. Liquidity remains heavily stacked to the upside, though notable clusters are forming between $85,000 and $86,000, hinting at where volatility may return after the weekend.

Technically, Bitcoin is forming a descending broadening wedge on the four-hour chart, often seen during bottoming periods. 

A confirmed breakout above $100,000 would give bulls a strong setup heading into December.

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Macro Trends Point to a Changing Bitcoin Cycle

Beyond the charts, broader market forces are influencing Bitcoin’s behavior. Some analysts argue that the traditional four-year Bitcoin cycle is shifting, shaped more by fiscal policy and liquidity flows than by miner halvings. 

They point out that much of the rally from late 2022 to 2025 was driven by fiscal spending, AI-driven growth, and steady liquidity injections.

The Federal Reserve is expected to end quantitative tightening in December, but experts say Treasury issuance and fiscal dominance will continue to drive overall liquidity conditions. With risk assets supported and Bitcoin defending key support zones, the market is showing early signs of stabilizing after recent fear-driven moves.

Overall, Bitcoin’s bounce is strong, the structure is improving, and the next reaction at resistance will determine whether the market is preparing for a December breakout toward $100,000. The coming days, especially after the holiday pause, will reveal whether this rally has more room to run.

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