BTIG Analyst: Bitcoin is expected to rebound to $100,000, with mining stocks Cipher Mining and Terawulf performing strongly.

On November 28, BTIG analyst Jonathan Krinsky stated in a client report on Wednesday that after experiencing a peak-to-trough decline of -36% earlier this month, Bitcoin is now expected to continue its reflexive rebound, returning to at least $100,000. According to Coin Metrics, the latest trading price of Bitcoin is $92,451.30, having risen nearly 10% in the past five days, but still down 20% over the past month. The analyst noted that despite the recent pullback, digital currency mining companies Cipher Mining and Terawulf performed well during the cryptocurrency pullback. Since Monday, Cipher Mining has risen 35%, and Terawulf has risen 31%. Barclay's Crypto Mining Index has held its support level and is expected to have another 15% of upside before encountering stronger resistance. Additionally, the second-largest cryptocurrency by market capitalization, ETH, seems poised to reclaim the $3,400 level after a 24% drop over the past month, with the latest trading price at $3,075.62, having risen nearly 13% in the past five days. Solana and XRP rose 12% and 15%, respectively, during the same period. (CNBC)