Bitcoin Hovers Above $91,000 With US Markets Closed for Thanksgiving

Why It Matters

The price stability and divergent ETF flows signal evolving investor confidence and risk appetite in a market less tied to traditional trading calendars.

Key Takeaways

• Bitcoin steadies above $91,000, up 1%.
• Crypto market cap reaches $3.2 trillion, up 0.7%.
• Leveraged traders liquidated $180 million, Bitcoin $75 million.
• Ethereum ETFs attract $61 million, Bitcoin ETFs $21 million.
• Top‑100 altcoins led gains; Kaspa up 14%.

Pulse Analysis

Bitcoin hovered just above $91,000 on Thursday, gaining roughly 1 % in the last 24 hours while U.S. equity markets were closed for Thanksgiving. The modest rise came alongside a 0.7 % increase in total crypto market capitalization, now valued at about $3.2 trillion according to Coingecko. Such stability during a major holiday suggests that the digital‑asset market is increasingly decoupled from traditional trading calendars, allowing price discovery to continue uninterrupted. Analysts also note that the price resilience aligns with recent bullish sentiment surrounding upcoming regulatory discussions.

CoinGlass reported that roughly 82,000 leveraged positions were liquidated, wiping out $180 million in the past day. Bitcoin futures accounted for $75 million of those losses, while Ethereum contributed $27 million. The volume of forced exits highlights the heightened volatility risk that margin traders face, especially when price swings tighten around key psychological levels. Market makers and institutional participants often view such liquidations as a short‑term price‑support mechanism, but they can also accelerate downward pressure if sentiment turns negative. Such events often trigger algorithmic rebalancing, which can further amplify short‑term price movements across correlated assets.

ETF inflows painted a divergent picture: Ethereum‑focused funds drew $61 million on November 26, marking four consecutive days of net purchases, whereas Bitcoin ETFs saw only $21 million in new capital. The stronger appetite for Ethereum products may reflect growing confidence in its upcoming network upgrades and the broader utility of smart‑contract platforms. For Bitcoin, modest inflows suggest that institutional investors are adopting a wait‑and‑see stance, possibly gauging regulatory clarity before committing larger sums. Continued tracking of these flows will offer clues about where capital is likely to migrate as the crypto ecosystem matures. If Ethereum continues to attract capital, it could accelerate its market‑share gains over Bitcoin in the coming quarters.