Janice R. Andrews
Bitcoin experienced a sharp rise on Thanksgiving Day, gaining over 5% in the past 24 hours and surpassing the $38,000 mark—its highest level in recent weeks.
Analysts point to increased trading activity during the holiday as a key driver, with retail and institutional investors taking advantage of the break to engage in the market. Historically, major holidays have seen spikes in crypto trading as traders monitor opportunities more closely.
Optimism surrounding potential Bitcoin ETF approvals in the U.S. has also boosted market sentiment, encouraging further investment. Additionally, the market’s reduced volatility has attracted cautious investors, contributing to the Thanksgiving rally.
Other cryptocurrencies, including Ethereum and Solana, followed suit with significant gains, reflecting a broader positive trend across the crypto market. However, experts caution that holiday-driven spikes can often lead to swift corrections.
As Bitcoin continues its upward momentum, investors are urged to remain vigilant, given the market’s inherent volatility. The Thanksgiving surge highlights the cryptocurrency’s ability to capture attention, even during festive periods.
Stay updated for further developments in this evolving crypto story.
