$BTC Bitcoin enters the Thanksgiving period after a strong 35% correction from its October high, and is heading for its fifth consecutive week of decline. This year, the fourth quarter (Q4) has broken the historical trend of being the most bullish (with an average gain of 77%), currently registering a 23% drop.
Historically, the day before Thanksgiving (November 26) has been a weak session, with drops of up to 8% due to reduced liquidity. On the other hand, the holiday itself and the following day usually have slightly positive returns, with average gains of more than 1.5% and 2.3% respectively.
The key difference this year is the fundamental change in market structure: the massive influx of institutional investors through ETFs has pushed retail traders to the periphery, resulting in massive liquidations. This has created a liquidity vacuum in cryptocurrency exchanges, as counterparties prefer to trade in regulated venues.
Considering the lack of liquidity in exchanges and the historically weak trend of the day before Thanksgiving.
Do you think this lack of liquidity could amplify the fall of BTC today (November 26)?
