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According to Coinglass’s monthly Bitcoin 
$105,411 returns report, November stands out as the most bullish month of the year with a +36.29% increase. Following a recent decline, Bitcoin prices rebounded to a level of $95.7K. This rise indicates a robust recovery in the cryptocurrency market.
Reasons Behind the Market Recovery
The global market capitalization reached $3.31 trillion, marking a 3.11% increase. The fear and greed index shifted to an ‘extreme greed’ level, while major cryptocurrencies like Ethereum 
$2,442, Solana 
$144, and XRP also experienced gains. This scenario strengthens the belief of participants in the market’s recovery.
Bitcoin reaching the $91K level heightened buying demand among participants. Historical trends indicate significant increases during the Thanksgiving and Black Friday periods. Google Trends data shows the highest levels since May 2022, indicating an increase in market sentiment.
The Impact of Political Changes
The U.S. presidential elections have had positive effects on the cryptocurrency market. Donald Trump’s support for cryptocurrencies contributed to Bitcoin approaching the $100K mark. Additionally, some countries are considering including Bitcoin in their national financial investments.
Morocco and China have begun lifting their long-standing bans on cryptocurrencies. This shift has further contributed to the market’s recovery. Notably, the proposal by Vancouver’s mayor to consider Bitcoin as a reserve asset has drawn attention.
Increase in ETF Inflows
We are witnessing a growing interest in Bitcoin and Ethereum ETFs. BTC ETF saw inflows of $103M, while ETH ETF attracted $90.1M. Bitwise’s applications for its 10 Crypto Index ETF also indicate sustained interest in this area.
“These developments in the crypto market signal positive signs for long-term investments,”
said economist Ayşe Yılmaz. The market’s recovery suggests that new opportunities are emerging for participants. However, it is crucial to exercise caution in investment decisions and closely monitor market trends.
