Crypto Price Analysis 11-26 BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, CHAINLINK: LINK. APTOS: APT, INJECTIVE: INJ, OPTIMISM: OP
The post Crypto Price Analysis 11-26 BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, CHAINLINK: LINK. APTOS: APT, INJECTIVE: INJ, OPTIMISM: OP appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) has registered a sharp decline as its march to $100,000 faced a significant setback as the price slipped below $95,000. BTC is down almost 4% over the past 24 hours and trading at $94,351, with sellers in control. BTC dipped to a low of $92,868 before recovering to its current level. One analyst has warned of a significant correction that could take the price to the $80,000-$85,000 range unless the cryptocurrency went above the $100,000 resistance level. BTC’s recent price action has put a stop to its blistering post-election rally. Meanwhile, Ethereum rose sharply to cross $3,500, reaching as high as $3,545 before declining to its current level of $3,434. The world’s second-largest cryptocurrency is up almost 2% over the past 24 hours as buyers look to reclaim the $3,500 level. On the other hand, Solana (SOL) registered a substantial decline, plummeting almost 6% to slip below $250. The crypto market cap is down by 2.80% and is currently at $3.25 trillion. What’s Keeping Bitcoin (BTC) Below $100,000? Bitcoin (BTC) has been unsuccessful in its attempts to go above $100,000 as its post-election rally hits a roadblock. BTC has witnessed an increase of over 40% since the November 5 election, which saw Donald Trump re-elected as president. While Trump’s election isn’t until January 20, 2025, it hasn’t stopped BTC and cryptocurrencies from surging, boosting sentiment within the crypto community. BTC hit a new all-time high on November 23, surging to $99,655. However, prices have declined since, and BTC has declined substantially, with the asset trading below $95,000 as sellers exert influence on the price action. But why has BTC’s stunning rally stalled, and what prevents a move past $100,000? Analysts point to several factors like investors taking profits and too much leverage. Andre Dragosch, the head of research…
Filed under: News - @ November 28, 2024 4:25 am