Bitcoin climbed back above $90,000 on November 26, posting its strongest weekly gain since the October 10 decline. Data show over $2 billion in Bitcoin flowed into Binance over seven days, while stablecoin inflows totaled only $735 million during the same period, according to CryptoQuant. On-chain analyst CryptoOnchain warns the supply-demand gap may limit buying power to absorb potential selling pressure.

Bitcoin rose 17% from $82,000 to $93,000 between November 21 and November 28, supported by $221 million in ETF inflows, but failed to break through $95,000 resistance. Kalshi prediction markets now show falling odds for Bitcoin reaching $100,000 before year-end. Traders are increasingly betting on a close below $80,000, with that probability rising to 36%.

U.S. spot bitcoin and Ethereum exchange-traded funds recorded their first week of combined net inflows since late October, with bitcoin ETFs adding $70.1 million and Ethereum ETFs contributing $312.6 million during the shortened Thanksgiving trading week. The positive flows ended multi-week outflow streaks that had totaled over $4.3 billion for bitcoin and $1.7 billion for Ethereum products.

BitMEX co-founder Arthur Hayes projects Bitcoin could reach $500,000 by the end of 2026, driven by anticipated quantitative easing policies. He identifies the November decline to $81,000 as the cycle's probable bottom rather than structural weakness. Hayes argues the strongest rally phase has not yet begun, contingent on Federal Reserve policy shifts including potential leadership changes.

Binance's Bitcoin reserves have declined by $20 billion since mid-August, dropping from $71 billion to approximately $51 billion, data show. Tether holdings across TRC20 and ERC20 networks surged from $26 billion to over $50 billion during the same period, reaching an all-time high. Analysts view the shift as a bullish signal, indicating traders hold significant liquidity for potential market re-entry.

MicroStrategy was passed over for S&P 500 inclusion despite meeting eligibility criteria, with SanDisk selected instead for the index slot. MSTR shares fell 34 percent in November, marking the fifth consecutive monthly decline since July.

Bitcoin deposits to exchanges reached 9,000 BTC on November 21, with the average deposit size climbing to 1.23 BTC—the highest in 12 months, according to CryptoQuant. Large holders contributed 45% of total inflows, with deposits of 100 BTC or more driving the increase. Ethereum deposits also rose, averaging 41.7 ETH, a three-year high, as both cryptocurrencies face selling pressure.

A Bitcoin holder sold 500 BTC worth $45.37 million, realizing a $10.5 million loss after acquiring the position at $111,899 in October. Short-term holders realized losses of 10,200 BTC while long-term holders recorded 2,237.152 BTC in losses. Mega-whale entities accumulated over 100,000 BTC for three consecutive days as Bitcoin trades near $90,000.