Carl

Bitcoin

Material

Bitcoin made history as the biggest cryptocurrency sealed its largest-ever monthly candle.
<figure>
 <img alt="Bitcoin smashes records with biggest-ever $26K monthly BTC price gain" src="https://s3.cointelegraph.com/uploads/2024-12/019382c5-cac2-7fe4-b40e-99b3a5a31941" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-month chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
<h2 id="bitcoin-completes-month-unlike-any-other">Bitcoin completes month unlike any other</h2>
Data from <a data-ct-non-breakable="null" href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA.." rel="null" target="null" text="null" title="null">Cointelegraph Markets Pro</a> and <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/BTCEUR/?exchange=BINANCE" rel="null" target="null" text="null" title="null">TradingView</a> confirmed the single biggest Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) price gain ever seen in a monthly candle — $26,400.
The November monthly close came in at around $96,400, also marking a new record high for BTC/USD.
Bitcoin finished the month up by <a data-ct-non-breakable="null" href="https://www.coinglass.com/today" rel="null" target="null" text="null" title="null">more than 37%</a>, making November its second-best month of 2024 so far.
<figure>
 <img alt="Bitcoin smashes records with biggest-ever $26K monthly BTC price gain" src="https://s3.cointelegraph.com/uploads/2024-12/019382c0-8b74-78cd-815c-e8b07b8f71bd" title="">
 <figcaption style="text-align: center;">
 BTC/USD monthly % gains (screenshot). Source: CoinGlass
 </figcaption>
</figure>
Economist Carl Menger <a data-ct-non-breakable="null" href="https://x.com/CarlBMenger/status/1863131966595346832" rel="null" target="null" text="null" title="null">said</a> it was “just the beginning” of Bitcoin’s journey.
An accompanying chart uploaded to X showed bullish signals on the monthly relative strength index (RSI).
<figure>
 <img alt="Bitcoin smashes records with biggest-ever $26K monthly BTC price gain" src="https://s3.cointelegraph.com/uploads/2024-12/019382c1-2478-7521-924d-27c37c14da53" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/CarlBMenger/status/1863131966595346832" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/CarlBMenger/status/1863131966595346832">Carl Menger</a>
 </figcaption>
</figure>
“Monthly scale breakout confirmation,” analyst Aksel Kibar <a data-ct-non-breakable="null" href="https://x.com/TechCharts/status/1863131691289604290" rel="null" target="null" text="null" title="null">said</a> in his own X post.
Others debated when Bitcoin might reach $100,000. As <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/who-cares-about-100k-5-things-bitcoin-this-week" rel="null" target="null" text="null" title="null">Cointelegraph reported</a>, some, including Kibar, consider that level neither technically nor psychologically significant.&nbsp;
“I view the fact that we haven’t broken the mystical $100k level yet as a positive for the strength and sustainability of this run,” trading resource Material Indicators <a data-ct-non-breakable="null" href="https://x.com/MI_Algos/status/1862892134866498011" rel="null" target="null" text="null" title="null">wrote</a> in part of its latest exchange order book liquidity analysis.&nbsp;
<blockquote>
 “It will be interesting to see if $100k comes as a Christmas gift, or if the gift comes in the form of a correction that gives the market a $BTC flash sale.”
</blockquote>
<figure>
 <img alt="Bitcoin smashes records with biggest-ever $26K monthly BTC price gain" src="https://s3.cointelegraph.com/uploads/2024-12/019382c1-c57b-761c-84d6-5b1bf848587d" title="">
 <figcaption style="text-align: center;">
 BTC/USDT liquidity chart. Source: Material Indicators/X
 </figcaption>
</figure>
<h2 id="100-000-btc-price-target-looms">$100,000 BTC price target looms</h2>
Bitcoin’s price circled $97,000 into the Dec. 1 weekly close.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-fund-6-figure-btc-price-250k-in-2025" rel="null" target="null" text="null" title="null">Fund strategist echos 6-figure BTC price targets, sees $250K+ in 2025</a>
Analyzing low timeframes, trader Skew flagged $98,500 as the key level to break for another attempt at reaching six figures.
“Developing uptrend so far - higher lows - sustained systematic uptrend. Momentum reset + monthly open pump,” he <a data-ct-non-breakable="null" href="https://x.com/52kskew/status/1863162798081232918" rel="null" target="null" text="null" title="null">said</a> about the 4-hour chart.
<blockquote>
 “Going into next week &amp; weekly open we have a lot to play with. HH above $98.5K would be a trigger to push $100K supply once again.”
</blockquote>
<figure>
 <img alt="Bitcoin smashes records with biggest-ever $26K monthly BTC price gain" src="https://s3.cointelegraph.com/uploads/2024-12/019382c2-64f8-7d1a-8353-dcbdbff4c6ae" title="">
 <figcaption style="text-align: center;">
 BTC/USDT 4-hour chart. Source: Skew/X
 </figcaption>
</figure>
“Nothing to see here. Just your average weekend price action,” fellow trader Daan Crypto Trades <a data-ct-non-breakable="null" href="https://x.com/DaanCrypto/status/1863183908042420566" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/DaanCrypto/status/1863183908042420566">added</a>. 
<blockquote>
 “Expecting volatility to pick back up after futures re-open.”
</blockquote>
An accompanying chart referenced the previous closing price of CME Group’s Bitcoin futures —&nbsp;a potential short-term price magnet.
<figure>
 <img alt="Bitcoin smashes records with biggest-ever $26K monthly BTC price gain" src="https://s3.cointelegraph.com/uploads/2024-12/019382c4-322f-7e79-9d9b-a684b4ae4ad3" title="">
 <figcaption style="text-align: center;">
 BTC/USDT 15-minute chart. Source: Daan Crypto Trades/X
 </figcaption>
</figure>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin smashes records with biggest-ever $26K monthly BTC price gain

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