Bitcoin retraced 9.5% after reaching a $99,800 all-time high on November 24.
MSTR plunged 35% after MicroStrategy purchased $5.4 billion worth of Bitcoins.
Ethereum picking up momentum as Bitcoin’s rally loses steam.
Bitcoin retraced 9.5% after reaching a $99,800 all-time high on November 24. The cryptocurrency found support at $90,742, according to TradingView’s data. However, crypto analysts consider the $93,000 region a more comfortable level for the flagship crypto ahead of the upcoming holiday season.
In the meantime, one analyst cited MitcoStrategy’s stock (MSTR) as one of the victims of the recent BTC pullback. MSTR plunged 35% after MicroStrategy purchased $5.4 billion worth of Bitcoins at $97,862. Despite the setback, MSTR appears to have found support, with evolving signals suggesting more upward movement for the stock’s price.
Read also : MicroStrategy’s Crazy Buy: 51,780 BTC for $4.6 Billion, Price Doesn’t Matter
Meanwhile, BTC’s loss appears to be a gain for Ethereum, considering ETH’s recent price rally. The scenario suggests a transition towards an altcoin season, with Ethereum picking up momentum as Bitcoin’s rally lose…
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