The last week of November feels like a breather for the market.
After three straight red weeklies that wiped $970 billion off total crypto market cap, this week alone, the market is up 5%+, with $160 billion in inflows, potentially marking the first green weekly close of this month.
Notably, Bitcoin [BTC] accounts for 62% of the inflows, while the Altcoin Season Index has dropped to mid-July levels. With flows clearly BTC-led, the Bitcoin price prediction looks bullish heading into December.
Source: Glassnode
That said, a full bull run isn’t confirmed until BTC breaks key resistance.
Glassnode data reveals four major supply clusters that could hinder Bitcoin’s path to a new all‑time high. These clusters represent price zones where long-term holders (HODLers) are most likely to sell at a break-even point.
For momentum to continue, the broader macro environment must remain supportive; otherwise, investor FOMO could quickly fade. Encouragingly, the Fear and Greed Index has risen by 8 points this week, shifting sentiment from extreme fear to moderate fear.
Meanwhile, on-chain metrics are rebounding, signaling a less risky trading environment. Together, the micro and macro reset points to a strong accumulation phase, with a potential bear trap acting as a gateway to breaking resistance.
Bitcoin price prediction signals a move toward six figures
With Bitcoin in a risk-off phase, short liquidity naturally built up.
Simply put, as BTC remained capped and sentiment hit extreme fear, large clusters formed from traders betting against it. Now, with momentum shifting back to risk-on, many of these positions are getting trapped.
CoinGlass shows $1.13 billion in liquidations this week, with 61.3% from short bets. This is the first week of the month when short liquidations dominated, following three straight weeks of $1 billion+ in long flushes.
Source: TradingView (BTC/USDT)
Naturally, $100k stands out as a key target for Bitcoin price prediction.
The odds? BTC’s capitulation metrics are improving, with Net Realized Profit/Loss flipping green and realized losses easing. Paired with a rebound in on-chain signals, it suggests supply is being steadily absorbed.
If this momentum holds, a push toward a six-figure Bitcoin price prediction could be forming, with the recent short-liquidity wipeout hinting that bulls are targeting key levels and triggering bear traps to reclaim resistance.
Final Thoughts
- Bitcoin is leading market inflows, but key resistance levels still need to break
- Improving on-chain metrics and a short-liquidity squeeze hint that bulls are gearing up for a bigger move.
Source: https://ambcrypto.com/bitcoin-price-prediction-can-a-bear-trap-help-push-btc-to-100k/
