On Nov. 30, Bitcoin futures on the Chicago Mercantile Exchange (BTC CME) reached $100,200, marking the second time in a week they surpassed the $100,000 threshold. Despite this, Bitcoin's spot price has not yet matched this peak, struggling to hit the $100,000 mark and instead peaking at $98,600 before declining. Data from The Kobeissi Letter indicates that Bitcoin futures open interest at CME exceeded 40,000 contracts, and prior to Thanksgiving, trading volumes were reported at $12.3 billion. The trading activity was particularly high during the EU and NY sessions following the US market closure for Thanksgiving. Traders noted a significant selling wall at the $100,000 level, referred to as a 'fortress,' impeding Bitcoin's progress. To potentially overcome this resistance, bulls might need to push the price to $99,000, triggering a liquidation cascade in the futures market that could facilitate a breakthrough above $100,000. Overall, the market remains sensitive, reflecting the influence of liquidations and trading strategies aimed at reaching new price milestones.

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