First Mover Americas: Bitcoin’s Correction Takes Price Below $93K
Bitcoin has fallen over 6% in the last 24 hours.
Indicators suggest BTC could drop to as low as $90,000.
Ether outperforms the broader market.
Markets
Bitcoin Long-Term Holders Have 163K More BTC to Sell, History Indicates: Van Straten
Long-term investors have sold almost 550,000 BTC, almost 4% of their holdings.
Last week, one-day profit-taking touched a record high in dollar terms, more than $10.5 billion.
The percentage drop from long-term holders continues to fall each cycle.
Ethereum Blob Usage Explodes as Traders Rush to Layer 2 Solutions
Ethereum has seen a surge in blob usage, averaging over 21,000 blobs this month, matching March’s record activity.
The Dencun upgrade allows Layer 2 solutions to efficiently bundle transactions and post them to Ethereum.
Blob fees spiked, leading to the burning of over 166 ETH worth $560,000 in the past week.
XRP Holds Strong as Archax Unveils Tokenized Money Market Fund on XRP Ledger
Archax has provided access to Abrdn’s U.S. dollar Liquidity Fund (Lux) in tokenized form on XRPL.
Ripple will allocate $5 million into tokens on Abrdn’s Lux fund, part of a larger allocation to real-world assets (RWAs) on the XRPL.
XRP price jumped 6%, touching a high of $1.49 in the hours following the release, before paring gains in a market-wide drop.
3 Reasons Why Bitcoin Risks Falling Below $90K: Godbole
BTC traders purchase protective put options in response to Monday’s 5% decline.
The Coinbase premium indicator highlights a decline in demand for Bitcoin in the U.S. market.
The daily chart reveals a bearish RSI divergence, signaling potential weakness in price momentum.
Bitcoin Slides Near $94K, but Short-Term Bullish Target of $100K BTC Unchanged
A bitcoin-led crypto market correction continued into its third day as the asset lost a further 3.5% in the past 24 hours.
However, bitcoin tends to bounce back when short-term holders sell at a loss. And some say this creates a buying opportunity for traders at current levels.
It’s a ride that some expect to be packed with market volatility.
Bitcoin Options Worth $9B Expire Friday, Traders May be Thankful for the Post-Thanksgiving Volatility
November’s expiry is due Friday at 08:00 UTC, with $9.4 billion in options expiry for bitcoin.
Bitcoin’s max pain price is $78,000, significantly lower than the current spot price.
The majority of the put open interest represent hedging activity and not outright downside bets: European Head of Research at Bitwise – Dragosch.
MicroStrategy Is a Bitcoin Magnet Pulling in the Earth’s Capital Reserves: Bernstein
Bernstein raised its MicroStrategy price target to $600 from $290.
Broker Canaccord also increased its price target for the software company, to $510 from $300.
The shares rose over 6% in early trading Monday.
Crypto Gets Shock Video Dose as Users Stream ‘NSFW’ Content to Pump Their Memecoins
Early 2000s-style internet shock videos are making the rounds on a popular crypto platform, with such content including extreme acts like individuals engaging in self-harm, animal cruelty, and explicit sexual content to attract attention and potentially increase token value.
Despite the platform’s moderation efforts, some of this content surfaces in the public view.
The crypto community, particularly on X, has largely criticized the use of shock content to promote tokens. Most tokens associated with such dark themes struggle to achieve significant market capitalization, indicating poor reception by investors.
Dogecoin Jumps on Fresh X Payments Speculations After Elon Musk Tweet
Dogecoin has a history of moving on Musk comments or payments-related developments of his companies.