Bitcoin looks set to finish November with its worst loss since at the very least 2019, but analysts say it sets up the cryptocurrency for an excellent begin to 2026 as some investors could get back in.
“While November shall be within the red for crypto, the capitulation signals a possibility for smart investors to purchase back in,” LVRG research director Nick Ruck told Cointelegraph.
“Over-indebted participants and unsustainable projects have been largely weeded out, giving latest long-term holders the chance to get in ahead of a promising latest 12 months.”
According to CoinGlass, Bitcoin (BTC) is down nearly 16.9% to date this month and is trading at around $91,500. That brings it closer to losses from November 2019, when it lost nearly 17.3% for the month.
The worst November ever was in 2018, when Bitcoin plunged 36.5% in the course of the brutal bear market that followed its 2017 peak, however the last time it ended the month of November was in 2022, down 16.2%.
Bitcoin is on the right track to finish November within the red. Source: CoinGlass
The long-term Bitcoin uptrend stays intact
“Normally November is one in all the strongest months in Bitcoin,” crypto educator Sumit Kapoor said on Wednesday, but with just a number of days left and a slow Thanksgiving weekend ahead, “it’s on the right track to be the worst November since 2018.”
“Every time Bitcoin had a red November, December ended red too.”
Justin d'Anethan, head of research at private markets advisory firm Arctic Digital, told Cointelegraph that almost all crypto-native investors “are used to a fairly predictable four-year cycle, and that has historically led to year-end rallies, with October, November and infrequently December ending within the green.”
He said the cycle was triggered early by the launch of spot Bitcoin exchange-traded funds within the US in early 2024.
“However, I see this as a positive: it points to the extremely dangerous 'this time is different' as institutions finally stepped in in a meaningful way and altered the pace, breadth and timing of cryptocurrency price movements,” he said.
The monthly candle is prone to stay above $93,000
Technical analysts have been eyeing Bitcoin to shut at a monthly candlestick level of $93,000 and are predicting further downside if Bitcoin fails to keep up its momentum over the weekend.
“As the month close approaches, I even have highlighted the 2 key levels to observe on the close for this era – $93,401 and $102,437,” analyst “CrediBull Crypto” said on X.
They said an in depth above $93,000 “could be a positive sign” that’s prone to occur, while an in depth above $102,000 “could be incredibly bullish, but I believe we can have to attend until next month for that.”
At the time of writing, BTC was changing hands at $91,600 after trading flat over the past 24 hours and failing to interrupt resistance just under $92,000 on Thursday.
