Bitcoin Holds Steady on Thanksgiving as ETH, DOGE, XRP Slip — Analyst Highlights Critical BTC Support
The cryptocurrency market slowed down on Thanksgiving as traders stepped away for the holiday—yet price action revealed an important divergence. Bitcoin held firm, while major altcoins including Ethereum (ETH), Dogecoin (DOGE), and XRP slipped into the red.
Market analysts say this calm may be deceptive, and one critical BTC support zone is now the level that “matters most” heading into the weekend.
Bitcoin Holds Its Ground Despite Slower Holiday Trading
As U.S. markets paused for Thanksgiving:
- Bitcoin traded steadily near the mid-$90,000 range
- Trading volume across exchanges fell sharply
- Volatility temporarily cooled after a chaotic week
BTC’s resilience stands out given the intense selling pressure earlier this month—fueled by ETF outflows, miner stress, and a macro shift toward risk-off sentiment.
The quiet holiday pause may signal either compression before a breakout or the calm before another leg down.
Ethereum, Dogecoin, and XRP Slip on Lower Liquidity
Holiday slowdowns often hit altcoins harder than Bitcoin, and that trend played out again.
Ethereum (ETH)
- Dropped below $3,000 again
- CEX net inflows surged, signaling short-term selling pressure
- Deposit sync delays added to market stress on Wednesday
Dogecoin (DOGE)
- Fell after a recent surge in derivatives activity
- Futures volumes jumped 5,590%, signaling speculative overheating
- Analysts warn DOGE is vulnerable unless BTC strengthens
XRP
- Pulled back below $2.70
- Still digesting the impact of the XRP ETF launch
- Analysts say XRP continues to hover at a “make-or-break” level
Altcoins typically rely heavily on Bitcoin’s stability during low-volume periods—so BTC’s next move will likely set the tone heading into December.
The Analyst’s Take: “Only One Support Level Really Matters”
According to prominent market analysts, Bitcoin’s near-term direction hinges on one key support zone:
$92,000–$94,000 Support Band
This range is being called “the support that matters” because:
- It aligns with BTC’s rising trendline from early 2025
- It marks the last major liquidity shelf before a sharper correction
- It held during previous high-volatility dips earlier this quarter
- It sits just above a cluster of whale bids and exchange buy walls
If Bitcoin loses this zone, the next stop is likely:
High-Risk Zones Below:
- $88,000 (final bullish defense)
- $80,000 (market-wide capitulation risk)
Polymarket traders have already priced a 55% probability that BTC will break below $80K by month’s end.
What Bulls Need for a Reversal
For Bitcoin to reassert strength:
- Reclaiming $98,000 would flip momentum bullish
- A daily close above $100,000 would neutralize the current downtrend
- ETF outflows must slow, ideally reversing into inflows
- Altcoins need to stabilize, signaling broader market confidence
If BTC can maintain support through the holiday weekend, analysts expect a strong volatility expansion next week—likely triggered by fresh macro data and renewed institutional flows.
What’s Next? Thanksgiving Calm Won’t Last
Historically, Thanksgiving week is often a low-volume chop zone, followed by a sharp move once traders return.
Given the current setup:
Bullish Case:
BTC holds $92K–$94K → retests $98K → pushes back toward $105K
Bearish Case:
BTC loses $92K → sweeps $88K → triggers heavy liquidations toward $80K
One thing is clear: the quiet will not last.
Bitcoin’s resilience on a holiday is notable—but it’s the next few days that will determine whether this was consolidation
