Bitcoin rose by approximately 38% in November, marking one of its strongest months this year, according to Coin Metrics.

This performance follows a 45% gain in February, driven by the launch of spot bitcoin exchange-traded funds (ETFs).

Recently, bitcoin increased over 2%, reaching an intraday high of US$97,081.81. It peaked earlier at US$98,722.

Related market movements included a 4.75% decline in Coinbase shares, while bitcoin-linked firms MicroStrategy and Mara Holdings saw gains of 0.67% and 1.86%, respectively.

In November, the United States presidential election appeared to affect market behavior.

Some market analysts suggested possible influences, including regulatory clarity and macroeconomic factors like budget deficits and inflation.

Bitcoin ETFs also saw significant activity, with BlackRock’s IBIT fund reporting record inflows. This occurred as some long-term holders took profits by selling their holdings.