Bitcoin price prediction: Can a bear trap help push BTC to $100K?

The final week of November seems like a breather for the market.

After three straight crimson weeklies that wiped $970 billion off total crypto market cap, this week alone, the market is up 5%+, with $160 billion in inflows, probably marking the primary inexperienced weekly shut of this month.

Notably, Bitcoin [BTC] accounts for 62% of the inflows, whereas the Altcoin Season Index has dropped to mid-July ranges. With flows clearly BTC-led, the Bitcoin value prediction appears to be like bullish heading into December.

Supply: Glassnode

That mentioned, a full bull run isn’t confirmed till BTC breaks key resistance.

Glassnode information reveals four major supply clusters that might hinder Bitcoin’s path to a brand new all‑time excessive. These clusters characterize value zones the place long-term holders (HODLers) are almost definitely to promote at a break-even level.

For momentum to proceed, the broader macro surroundings should stay supportive; in any other case, investor FOMO may shortly fade. Encouragingly, the Fear and Greed Index has risen by 8 factors this week, shifting sentiment from excessive concern to average concern.

In the meantime, on-chain metrics are rebounding, signaling a much less dangerous buying and selling surroundings. Collectively, the micro and macro reset factors to a powerful accumulation part, with a possible bear entice appearing as a gateway to breaking resistance.

Bitcoin value prediction alerts a transfer towards six figures

With Bitcoin in a risk-off part, brief liquidity naturally constructed up.

Merely put, as BTC remained capped and sentiment hit excessive concern, giant clusters shaped from merchants betting towards it. Now, with momentum shifting again to risk-on, many of those positions are getting trapped.

CoinGlass exhibits $1.13 billion in liquidations this week, with 61.3% from brief bets. That is the primary week of the month when brief liquidations dominated, following three straight weeks of $1 billion+ in lengthy flushes.

Supply: TradingView (BTC/USDT)

Naturally, $100k stands out as a key target for Bitcoin value prediction.

The chances? BTC’s capitulation metrics are bettering, with Web Realized Revenue/Loss flipping inexperienced and realized losses easing. Paired with a rebound in on-chain alerts, it suggests provide is being steadily absorbed.

If this momentum holds, a push towards a six-figure Bitcoin value prediction could possibly be forming, with the current short-liquidity wipeout hinting that bulls are focusing on key ranges and triggering bear traps to reclaim resistance.

Closing Ideas

• Bitcoin is main market inflows, however key resistance ranges nonetheless want to interrupt
• Enhancing on-chain metrics and a short-liquidity squeeze trace that bulls are gearing up for an even bigger transfer.