PANews reported on November 5th that Delphi Digital market analyst @that1618guy pointed out that historical Bitcoin data shows November often serves as a turning point in market structure, and the timing of its monthly lows can reveal market conditions. During bull market cycles (such as 2020, 2023, and 2024), Bitcoin typically bottomed out in the first week of November, followed by a strong rebound of an average of 32.9%. In contrast, during bear markets or transitional phases (such as 2021 and 2022), lows usually occur at the end of the month, accompanied by deeper declines (average -8.2%).

If the market continues its bullish trend, $98,900 may be the low for this month, and a higher low needs to be confirmed in the coming weeks to maintain the upward trend. If Bitcoin continues to make new lows, November may exhibit bearish characteristics, possibly related to liquidity pressures and market uncertainty. The analysis also mentions that the EMA indicator suggests a possible bearish crossover in mid-November, and the risk of further price declines should be noted.

Related Reading: Trading Moments: Bitcoin Falls Below $100,000, Exacerbating Bull-Bear Divergence; Ethereum Gives Back Year-to-Date Gains