Bitcoin closed November up 37.15% at 96,407.99 USDT

Bitcoin completed November 2024 with a 37.15% open-to-close gain on Binance’s BTC/USDT spot market. The exchange’s preserved monthly candle opened at 70,292.01 USDT on November 1 and closed at 96,407.99 USDT at the end of November 30, an increase of 26,115.98 USDT.

That was the clearest consequential development tied to November 30: a month-end valuation boundary that captured bitcoin’s post-election repricing and its approach to six figures. It was not a universal bitcoin close. Crypto trades continuously across venues, and USDT is a dollar-linked token rather than a bank dollar.

What the monthly record showed

Binance’s UTC-month candle recorded a November low of 66,835.00 USDT and a high of 99,588.01 USDT. The high was 411.99 USDT, or about 0.41%, below 100,000 USDT. The full low-to-high span was 32,753.01 USDT, equal to 49.01% of the monthly low. Those percentages and differences are Coinburn calculations from Binance’s venue record.

The final session did not itself extend the rally. Binance’s November 30 daily candle fell 1.08%, from 97,460.00 USDT to 96,407.99 USDT. CoinMarketCap’s November 30 historical snapshot independently placed bitcoin at $96,449.06, down 1.04% over its displayed 24-hour window, with a circulating market capitalization of $1.909 trillion based on 19,789,534 BTC.

The $41.07 difference between CoinMarketCap’s aggregated price and Binance’s final monthly trade was about 0.04%. That proximity corroborates the broad level, but the observations are not interchangeable: Binance represents one BTC/USDT order book at a UTC cutoff, while CoinMarketCap aggregates markets and does not disclose a closing-auction convention on the historical page.

The institutional channel was larger

The November advance unfolded after U.S. spot bitcoin exchange-traded products had opened a regulated securities-market route to bitcoin exposure. The Securities and Exchange Commission had approved exchange rule changes for those products on January 10, 2024; the approval permitted listings but did not endorse bitcoin or crypto trading platforms.

Farside Investors’ daily table shows a net $6.46 billion entering the U.S. spot bitcoin ETF group over the 20 securities-trading days from November 1 through November 29. That total is a Coinburn sum of Farside’s daily net-flow column. November 30 was a Saturday, so there was no additional U.S. ETF session to include.

The flow figure measures estimated net creations and redemptions across the listed funds, not purchases on the November 30 spot market and not a complete explanation for bitcoin’s price. It nevertheless establishes that the rally coincided with substantial demand through an institutional wrapper, rather than occurring only on offshore or crypto-native venues.

What could and could not be concluded

Contemporaneous reporting on November 29 described bitcoin as up more than 36% for the month and on course for its strongest monthly close to that point. The completed Binance candle confirms the direction and magnitude after the remaining trading hours, while showing that bitcoin stopped short of 100,000 USDT.

Commentators widely connected the November repricing to expectations following Donald Trump’s November 5 election victory and to ETF demand. The timing supports describing those as market narratives, not proving either as the sole cause. Bitcoin’s fragmented markets, leverage, round-the-clock trading and changing liquidity could also affect price.

The defensible November 30 conclusion is therefore narrower: bitcoin finished a 37.15% Binance month at 96,407.99 USDT after traversing an unusually wide range, while U.S. spot ETFs recorded $6.46 billion of net inflows during the month’s securities sessions. The record established a historic-scale repricing, not that 100,000 was guaranteed to follow or that the month-end level would hold.