Bitcoin Rebounds Strongly Amid ETF Inflows and Bullish Predictions
Bitcoin has demonstrated a remarkable recovery, surging 12% from its recent lows of $81,000 to surpass $91,500 and break through the $90,000 resistance level. This rebound coincides with significant inflows into Bitcoin Exchange-Traded Funds (ETFs), totaling $21 million. Influential trader Altcoin Sherpa is forecasting further gains, suggesting Bitcoin could reach $93,000 in the near term, with a potential push towards $100,000 before any substantial pullback. These predictions signal a potential move towards new all-time highs.
Just days after experiencing a significant downturn, a 33% drop from its November highs of $116,000, Bitcoin has clawed its way back above $91,500 as of November 27, 2025. The cryptocurrency saw a 4.5% increase in the past 24 hours, with trading volume reaching $2.3 billion. This sharp reversal on the charts, following a week that saw over $1.2 billion in leveraged long positions liquidated, has led many to believe a significant recovery is underway.
On-Chain Data and Trader Sentiment Support Upward Momentum
Altcoin Sherpa's optimism is shared by a broader market sentiment. He has identified $93,000 as an immediate target, expressing confidence that this level will be breached. Beyond that, he anticipates Bitcoin could reach $100,000, potentially marking the interim peak of the current cycle before any significant price correction occurs. This outlook is supported by on-chain data, which shows a decrease in exchange reserves by 1.8% to 2.1 million BTC, according to CryptoQuant. Concurrently, whales have been observed accumulating approximately 15,000 coins during the recent dip.
Further supporting the bullish narrative, funding rates are currently hovering around -0.002%, indicating that short positions may be vulnerable to a squeeze if Bitcoin maintains its hold above $90,000. This level has acted as significant support three times this month, underscoring its importance.
Macroeconomic Factors and Historical Trends Favor Bitcoin
Several macroeconomic tailwinds are also contributing to the positive outlook for Bitcoin. Spot BTC ETFs recorded $21.12 million in inflows yesterday, extending a streak of three consecutive days of inflows, despite a minor outflow from Fidelity's ETF. BlackRock's IBIT ETF alone saw an addition of $18 million, pushing its total assets under management past $50 billion.
Traders are increasingly pricing in the possibility of Federal Reserve rate cuts, with markets assigning a 92% probability of a cut in December. This expectation is further bolstered by discussions surrounding a potential pro-crypto stance from a future Trump administration. A recent study by Glassnode highlights that November's median drawdown of 15% is within historical norms. Furthermore, data indicates that in 75% of post-2017 cycles, Bitcoin has experienced "Santa Rallies" in December, averaging gains of 28% leading into the end of the year.
Caution Amidst Euphoria: Key Resistance and Support Levels
Despite the prevailing optimism, there are reasons for caution. The Relative Strength Index (RSI) is currently at 62, approaching overbought territory. Additionally, the open interest, standing at $45 billion, suggests a degree of market froth. Altcoin Sherpa himself has cautioned about potential smaller price fluctuations on the path to higher levels, referencing similar false breakdowns observed in October.
The immediate resistance level to watch is $93,000, which also aligns with the 50-day Exponential Moving Average (EMA). A decisive break above this level could propel Bitcoin towards the $100,000 mark and potentially challenge its all-time high of $108,000, which was set in March. Conversely, a failure to hold above $90,000 could see the price retest the support at $85,000.
Bitcoin's Dominance and Scarcity Narrative
For long-term holders, the recent dip presented a valuable opportunity. The Market Value to Realized Value (MVRV) ratio is currently at 2.1, suggesting that Bitcoin is undervalued relative to its scarcity narrative, especially in light of ongoing concerns about the U.S. national debt, which has surpassed $1.2 trillion in interest payments alone. As altcoins like Ethereum (ETH) lag in performance, Bitcoin's current dominance of 56% hints at a potential period of solo outperformance before capital rotates into other cryptocurrencies.
Altcoin Sherpa's latest assessment suggests that this is not merely a recovery but a significant "reload" phase for Bitcoin. With decreasing market liquidity expected during the holiday season, the conditions appear to be aligning for Bitcoin to reassert its position as the leading cryptocurrency.