The largest cryptocurrency has been volatile ahead of the holidays, falling back following its march toward the key $100,000 level.

Bitcoin on Wednesday climbed back above $96,000, recovering slightly from a pullback this week that knocked it from record levels. The price of the flagship cryptocurrency was last higher by nearly 6% at $96,

Bitcoin's price premium on Coinbase rebounded after flipping negative during the recent pullback, suggesting that American traders may be driving the rally.

A closely followed crypto analyst says he believes Bitcoin (BTC) may be on the verge of a Thanksgiving breakout.

Reports highlight the bull market is not over, as BTC is not overvalued, and projects a target of $146K.

Sandwiched between the Halloween and the Christmas festivities, the Thanksgiving holiday is another special day for Americans that draws families and communities together. Thanksgiving is celebrated on the fourth Thursday of November.

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