The post Crypto Price Analysis 11-4 BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, DOGECOIN: DOGE, RIPPLE: XRP, POLKADOT: DOT, INJECTIVE: INJ appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) briefly fell below $68,000, plunging to a low of $67,574 on Sunday as buyers struggled to hold on to $68,000 following the emergence of mixed signals. The drop marks a significant pullback from above $73,500, with recent daily candles representing considerable selling pressure, indicating a bearish outlook. BTC has since recovered to climb above $69,000 and is trading around $69,100, up by almost 1%. Ethereum (ETH) also slipped below the crucial $2,500 level after reporting a significant decline on Sunday and plunging to a low of $2,412 earlier today before recovering. ETH has also recovered since but has been unable to push above $2,500 thus far, trading around the $2,470 price level. Other major cryptocurrencies, including Solana (SOL), Dogecoin (DOGE), Toncoin (TON), Ripple (XRP), and others, have also reported marginal recoveries after declining on Sunday. The overall crypto market cap reported an increase of 0.62% and currently sits at 0.62%. Speaking about the prevailing market sentiment on the eve of the US elections, ChangeNOW CMO Pauline Shangett stated,  “The recent pullback in Bitcoin and Ethereum reflects ongoing volatility, with mixed signals causing uncertainty for investors. Although BTC managed to reclaim some ground above $69,000, sustained selling pressure at key resistance levels hints at potential bearish sentiment persisting in the short term.” Further elaborating on BTC’s performance, Shangett stated,  “Bitcoin’s sharp dip below $68,000 before its partial recovery showcases the current market’s sensitivity to both macroeconomic factors and crypto-specific news. This could be a crucial point for BTC bulls to reassert their position if they hope to see a return to the $73,000 range in the near term.” The Week Ahead The crypto markets are bracing for one of the most crucial weeks of the year, with speculations on the outcome of key events leading to considerable price declines.…

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Filed under: News - @ November 4, 2024 1:24 pm