Why this analyst thinks Bitcoin’s return to $100k isn’t far away

Bitcoin could be preparing to turn a corner after a period of seasonal weakness, according to BTIG chief technical strategist Jonathan Krinsky.

The world’s largest cryptocurrency has climbed steadily in recent sessions, and analysts suggest historical patterns may support further strength into the year-end.

Seasonal weakness nearing potential end

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Krinsky points to a historical 2015–2024 price trend that shows bitcoin typically bottoms around November 26 before gaining momentum into the final weeks of the year.

He noted that bitcoin is currently oversold, suggesting a potential springboard for recovery.

A chart referenced by Krinsky, shared as prices moved above $91,000 on Friday, illustrates what he describes as a traditionally weak period nearing its end, with the possibility of a stronger seasonal tailwind developing.

The strategist believes this could place the cryptocurrency back on a trajectory toward the $100,000 level—a price target that has carried increasing relevance as bitcoin trades roughly 27% below its October 6 all-time high of $126,272.

Bitcoin climbs through holiday market pause

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While traditional US financial markets paused for the Thanksgiving holiday, trading activity in digital assets continued without interruption.

Bitcoin has been steadily gaining ground since Wednesday’s close, advancing from roughly $87,000 to more than $91,000 by Thursday.

By Friday, bitcoin was changing hands near $91,615, marking an increase of more than 8% for the week.

The move higher aligns with a rebound in US equities heading into the holiday.

The growing correlation between bitcoin and US growth stocks has become a notable development for investors.

As risk-sensitive sectors moved in tandem, crypto traders watched closely for signs of broader sentiment shifting.

Macro pressures still loom over market

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Despite the latest uptick, bitcoin remains well below recent record levels after several weeks of selling pressure.

The pullback has been influenced by broader weakness in equity markets and waning appetite for high-risk assets.

Institutional investors and some long-term holders have taken the opportunity to lock in profits after bitcoin’s extended rally earlier in the year.

Deutsche Bank analysts also point to uncertainty around Federal Reserve interest-rate policy as a factor weighing on bitcoin performance.

With investors awaiting clearer signals about the path of monetary easing, risk assets—including cryptocurrencies—have seen periods of volatility and profit-taking.

Where bitcoin heads next has implications beyond digital-asset markets.

The cryptocurrency’s increasingly strong price relationship with tech-focused US equities means equity traders are watching closely.

As bitcoin attempts to stabilize and regain upward momentum, shifts in sentiment may ripple across both asset classes.

For now, traders and analysts will be watching the calendar closely.

If historical patterns hold, bitcoin could be entering a seasonally supportive phase—one that may determine whether momentum can carry the asset back toward the psychological $100,000 mark.