Bitcoin (BTC) just made history recording the single biggest price gain ever seen in a monthly candle—$26,400. 

According to data from Cointelegraph Markets Pro and TradingView, the November monthly close of BTC came in at around $96,400, also marking a new record high for BTC/USD. Traders are highly optimistic that this upward trend isn't going to end anytime soon and BTC could hit the $150,000 mark. 

According to a post on X by popular crypto trader with the alias Ash Crypto, “Bitcoin is entering the thrill phase 🚀 Expect high volatility, more liquidations but overall the price trend will be to the upside making new highs. $150,000 BTC is coming in 2025.”

This reflects investors' optimism about the possibilities of a further climb by BTC in the coming years. 

It's not surprising that market sentiment will be tilted towards that direction as the token recently recorded a 129% year-to-date surge, marking seven months after the April 2024 halving event.  Another major driver for this growth is the 2024 U.S. presidential election.

As things stand right now, Bitcoin is going through a critical phase as it approaches the psychologically significant $100,000 price point. After crossing $99,000 on November 22, the cryptocurrency retraced to the $96,000-$98,000 range, indicating the challenges ahead in this race to six figures. 

On November 29, Bitcoin futures on the Chicago Mercantile Exchange (CME) reached $100,200 for the second time within a week, sparking speculation among analysts that the spot price may soon follow suit.

Despite these rising futures prices, Bitcoin's market dominance has seen a decline, dropping to 56.1% by November 30. This shift suggests that many Bitcoin investors are taking profits and reallocating their investments into altcoins, potentially signaling the onset of an altcoin season. 

Raoul Pal, CEO of Global Macro Investor, forecasts a local top of $110,000 for Bitcoin before the end of January 2025, with a peak expected later in 2025.

Additionally, Bitcoin advocate Samson Mow has introduced the concept of an "Omega Candle," which he describes as a rapid price surge that could propel Bitcoin to $1 million or more per coin. Mow predicts that during this period, Bitcoin's price could increase by as much as $10,000 per day as institutional and retail investors rush to secure their positions.

As of December 2, Bitcoin's price was reported at approximately $95,706.32, reflecting a slight decline from previous highs but still maintaining an overall bullish sentiment as traders analyze key levels for potential breakouts. 

Trader Skew identified $98,500 as a crucial level to surpass for another attempt at reaching $100K. He noted an "uptrend so far" with higher lows and a "momentum reset" that could set the stage for further gains.

Fellow trader, Daan Crypto Trades added a more casual perspective: “Nothing to see here. Just your average weekend price action,” hinting at the volatility traders expect after futures markets reopen.

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