As we approach the end of November, Bitcoin’s rapid rise is drawing attention. BTC, which has shown a significant increase in recent weeks, has become the focus of the markets by reaching $98,000. Altcoin investors also made significant gains with the developments over the weekend. Many cryptocurrencies displayed impressive performances with increases of up to 20 percent.$BTC
Since the beginning of November, Bitcoin has gained over $30,000 and is approaching the $99,000 level. It is currently finding solid support at $97,138 and is continuing to rise. Bitcoin appears to have entered a brief pause period on its way to reaching new all-time highs. However, it is expected to reach higher levels in the coming days, exceeding $100,000.
While Bitcoin’s rally usually puts pressure on altcoins, the consolidation period that took place over the weekend presented an opportunity for altcoins. After BTC’s rise above $100,000, it could signal the start of a long consolidation period as markets prepare for bigger gains.
The altcoin market is also buoyant. Ether has managed to break through an important resistance level by exceeding $ 3,400. In the coming days, the positive developments regarding ETFs may lead to stronger increases in the price of Ether. In addition, SAND and MANA coins, which are metaverse-focused projects, have gained 77 percent in value.
XLM Coin has made a big breakout this week, recording a 185% increase. In addition, altcoins such as XTZ, HBAR, ALGO, DOT, and AXS have also gained over 60%. The total value of the crypto markets currently exceeds $3.35 trillion, while the daily trading volume is over $200 billion.
These positive developments in crypto markets have particularly increased the interest of investors. This movement may herald new opportunities and record levels in the markets.