After briefly falling below $90,000 and even $87,000, Bitcoin is back on track, rising more than $4,000 in the past day and breaking through the $91,000 mark.
At the same time, the performance of many altcoins was even more impressive, with XRP, ADA, PEPE, SUI, ICP, XLM, etc. all achieving double-digit growth.
BTC exceeds $91,000
The major cryptocurrency had another stellar week, surging from $80,000 on Monday to a new high near $94,000 on Wednesday. After this massive run-up, a correction and cooling was widely expected.
Last Friday, Bitcoin fell below $90,000 and fell to below $87,000 at one point, driven by short sellers. However, it rebounded almost immediately and returned to the $90,000 mark by the end of the day. By Saturday morning, Bitcoin managed to recover the lost ground and further broke through to above $91,000.
At the same time, on-chain data shows that Bitcoin’s bull run is not over yet, especially the increase in the inflow of stablecoins into exchanges and the decrease in BTC reserves on trading platforms, indicating that market momentum remains strong.
As the price of Bitcoin surpassed $91,000, its market capitalization returned to the key level of $1.8 trillion. At the same time, Bitcoin's dominance in the cryptocurrency market also climbed to over 57%.
Bitcoin/Price/Chart November 16, 2024
Two-digit replacement value
Volatile altcoins have been strong over the past few days, led by XRP and ADA, both of which have gained more than 20% in the past day. Here are the potential reasons for ADA's sharp rise.
Other currencies with double-digit increases include PEPE, NEAR, ICP, XLM, BONK, HBAR, KAS, WIF, MANTRA, etc.
In contrast, altcoins with larger market capitalizations such as ETH, BNB, DOGE and TON generally saw increases of around 3%, SOL rose by 5%, and TRX rose by 6%.
The total cryptocurrency market capitalization has surged by more than $100 billion and currently stands at $3.16 trillion on CoinGecko.
Cryptocurrency Market Overview
Club Target Review
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Driven by PNUT, the entire meme sector has seen an increase. Since the raccoon coin FRED was first deployed at a price of 0.04, it has now risen to 0.26, a nearly 6-fold increase; similarly, the eye coin EYE, which was 0.0004, has soared to 0.0062, an 18-fold increase; BAN has risen from the prompt position of 0.041 to 0.21, also a nearly 6-fold return. Hot projects are performing steadily, and the opportunity for continued profitability should not be missed!
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The most eye-catching one today is the squirrel coin PNUT mentioned by Lao Ma, which has nearly doubled in price. At the same time, Fred, another pet of the squirrel owner, also entered the market at around 0.04 after research, and its current market value is close to 1 billion US dollars.
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WLFI
The results of the US election have been announced, and Trump has successfully won the election. He may be the most supportive president of cryptocurrencies at present. In the foreseeable future, the crypto market will reach a new height.
After Trump takes office, projects in the crypto and DeFi ecosystem will receive more strategic and policy support. In terms of market conditions, we have seen that UNI, AAVE, LDO, etc. have taken the lead in starting an upward trend after Trump announced his victory.
In the DeFi ecosystem, the one that is closest to Trump's concept is the DeFi project supported by Trump himself - WLFI. The project has unique resources and has also raised funds for Trump during his campaign. After Trump officially takes office next year, Trump's promises to the crypto industry will begin to be fulfilled one by one, and WLFI will be the first project to benefit.
Currently, a whitelist is required for the subscription of WLFI. The club will come up with a batch of project whitelists and give them to club members as benefits.
Here, everyone is welcome to join the club (main business introduction) and obtain the WLFI whitelist on a first-come, first-served basis.
