Bitcoin rebounds to $96K: On-chain data points to $100K potential – BitRss

• With increased adoption, Bitcoin’s on-chain data confirmed a “local” bottom at $90K. 
• However, breaking $99K amid macro volatility requires solid groundwork.

Inflation in the U.S. rose slightly in October, ticking up by 0.2% monthly, spooking the stock markets. The S&P 500 snapped its seven-day winning streak as the “Trump dump” that followed the election began to fade.

In contrast, Bitcoin [BTC] diverged from U.S. indexes, climbing over 4% to close at $95,883. This rebound came after four straight days of losses following its record high of $99,317.

While Bitcoin’s Trump-related rally fizzled out over a week ago, the asset’s resilience amid increasing economic uncertainties – particularly fears of rising consumption costs due to high tariffs – stands out.

This price action, just before Thanksgiving, has sparked speculation. U.S. investors may sustain their trading appetite to push BTC back to $99K.

However, this bullish hypothesis awaits confirmation from convincing on-chain data.

BTC on-chain data signals bottom…