Bitcoin (BTC) held above $95,000 despite facing a slight pullback over the weekend, falling just over 1%. Spot Bitcoin ETFs have seen notable weekly outflows that have stalled momentum towards the $100,000 milestone.
The drop over the weekend partially reversed an increase of almost 2% from Friday. However, BTC’s close above $95,000 indicates positive demand demand. While major issuers reported inflows, spot Bitcoin ETFs ended a seven-week inflow streak with net outflows of $153 million for the week ending November 29.
Meanwhile, Ripple (XRP) has registered an incredible surge of over 31% in the past 24 hours, flipping Solana (SOL) and Tether (USDT) to become the world’s third-largest cryptocurrency. The unprecedented surge is driven by legal clarity and regulatory optimism, which has sparked renewed optimism among XRP investors. The altcoin is up almost 67% over the past week. The crypto market cap reported an increase of 1.45% and currently sits at $3.45 trillion.
Ripple (XRP) Flips Solana (SOL) and Tether (USDT) to Become Third Largest Cryptocurrency
Ripple's (XRP) incredible surge has seen it flip SOL and USDT to become the third-largest cryptocurrency by market cap. As of writing, XRP’s market capitalization is $139 billion, putting it far ahead of SOL and USDT. The increase sees XRP reclaim a spot it had lost after being sued by the United States Securities and Exchange Commission, which alleged XRP was a security. The lawsuit led to significant hesitation and turmoil among investors as XRP got delisted from major exchanges. The sharp decline in XRP’s value saw the altcoin slump to seventh in market capitalization.
However, a breakthrough in 2023 ended some regulatory uncertainty and determined that XRP was not a security in some aspects, sparking a rally and boosting XRP’s market capitalization. The latest jump is partially due to Donald Trump’s re-election and SEC Chair Gary Gensler’s impending resignation. Investors anticipate a favorable regulatory environment under the incoming administration. Speculation is rife that Trump could appoint a crypto-friendly SEC Chair following Gensler’s departure.
Despite its surge, XRP is still considerably lower than its all-time high of $3.40, achieved in January 2018.
Russia Approves Crypto Tax
The Russian Government has approved a federal bill for new taxes on crypto transactions. Russia's upper house approved the bill on November 27, imposing between 13% and 15% tax on crypto sales. While mining activities have been made exempt from value-added tax (VAT), mining operators must report necessary details about crypto mining services to local authorities or pay a fine of 40,000 rubles.
DMM Bitcoin Preparing To Liquidate
Japanese cryptocurrency exchange DMM Bitcoin is preparing to liquidate after losing $320 million in a private key hack. The exchange is struggling to recover from the loss and is reportedly ceasing efforts to restart operations. Customer assets will be transferred to SBI VC Trade, an exchange operator under the SBI Group. The exchange was compromised in May after falling victim to a server breach and private key hack, which the company called an “unauthorized leak.” The hack led to the loss of over 4,500 BTC from a single wallet. At the time, DMM Bitcoin stated all user deposits would be fully guaranteed as it halted withdrawals, trading, and new account openings.
To compensate all users the platform promised to procure the equivalent amount of BTC. The DMM hack was the second largest after the Coincheck hack in 2018, during which hackers stole a staggering $530 million.
Robert Kiyosaki Predicts Major BTC Correction
The author of “Rich Dad Poor Dad” has predicted Bitcoin (BTC) could crash to a low of $60,000 as it struggles to surpass $100,000. The best-selling author shared his perspective in a post on X, stating that any downturn would be an opportunity to buy rather than a cause for concern.
“BITCOIN to CRASH Bitcoin is stalled short of $100k. That means BTC may crash to $60k. If and when that happens I will not sell. BTC will be having a sale. I will buy more. I predict Bitcoin will settle around $250 in 2025. At this stage of the BTC process… price is not as important..as how much BTC you acquire. I want more BTC. Take care.”
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) continues to hover around the $95,000-$96,000 mark as it struggles to build momentum and go above $100,000. Outflows from spot Bitcoin ETFs have stalled progress towards $100,000, with BTC facing a slight pullback over the weekend. However, despite the decline on Saturday, BTC remained above $95,000, which analysts believe is a sign of positive interest from investors.
BTC’s price chart shows subdued movements since November 22, when the price peaked above $99,600. However, it has struggled since and has been unable to move towards the $100,000 mark. BTC registered a substantial decline last Sunday, slipping below $95,000 to a low of $94,838 before buyers propped up the price to $97,891. However, it was back in the red on Monday, registering a substantial decline of 5.16% to go below $95,000 and settle at $92,845. Buyers attempted a recovery on Tuesday but were thwarted, as sellers dragged BTC to a low of $90,707. However, BTC recovered to climb above $91,000 and settled at $91,913 after a decline of 1%.
Source: TradingView
With the 20-day SMA acting as a dynamic level of support, BTC recovered on Wednesday, rising by 4.32% and settling above $95,000 at $95,883. Buyers and sellers struggled to take control on Thursday. Ultimately, neither assumed control as BTC registered a marginal drop. Buying activity increased on Friday as BTC rose by 1.76% to $97,374. However, it was back in the red on Saturday as the cryptocurrency suffered a slight pullback, dropping by 1.14% to $96,263. However, it recovered on Sunday, registering a marginal increase of 0.79%, and settled at $97,026. The current session sees BTC back in the red, with the price down just over 1% and trading at $95,955.
So where does BTC go from here? The cryptocurrency is clearly struggling to go above the $100,000 level. Some analysts have predicted a correction that could take BTC to a low of $80,000 before it resumes its upward momentum. Best-selling author Robert Kiyosaki has predicted it could go as low as $60,000 but argued that a substantial decline should be viewed as a buying opportunity, keeping in mind the eventual rebound. Analysts are bullish about BTC’s long-term prospects, predicting it will cross $100,000 before the end of the year. Kiyosaki is even more bullish and predicts BTC will hit $250,000 in 2025.
Ethereum (ETH) Price Analysis
Ethereum (ETH) registered a marginal decline over the past 24 hours as it struggles to go above $3,700. Despite recent struggles, ETH is up almost 50% over the past month following Donald Trump’s election victory. ETH faced considerable volatility last weekend as buyers and sellers struggled to exert influence. Thanks to the volatility, ETH ended the previous weekend in the red, dropping just over 1% and settling at $3,362. Buyers returned to the market on Monday as ETH rose to an intraday high of $3,547. However, buyers could not stay above $3,500, and the price fell to settle at $3,415, an increase of 1.60%. Despite the strong start to the week, ETH fell back on Tuesday, dropping almost 3% to settle at $3,325.
Source: TradingView
ETH posted a significant increase of almost 10% on Wednesday, surging past $3,500 and settling at $3,657. However, buyers lost momentum after reaching this level, and ETH registered a drop of just over 2% and settled at $3,580. Friday saw buyers and sellers struggle to exert influence, and ETH ultimately settled at $3,594 after a marginal increase. ETH was bullish over the weekend, rising by 3.08% on Saturday to go above $3,700 and settle at $3,708. However, with strong resistance at this level, momentum waned on Sunday, and ETH registered only a marginal increase to settle at $3,710. The current session sees ETH back in the red as it dipped below $3,700. ETH is currently trading at $3,664, down by 1.25%.
If sellers retain control and drive ETH lower, it could slip below $3,500. A drop below this level could see ETH decline to $3,000. However, if buyers can retake control and break above $3,700, ETH could surge to $4,000.
Solana (SOL) Price Analysis
Solana (SOL)’s decline has intensified as it slipped below the 20-day SMA, with sellers firmly in control. SOL reached a high of $264 last weekend, but sellers have taken control since, with the price declining substantially. SOL started the previous week with a drop of over 7% to go below $250 and settle at $234. The price encountered substantial volatility on Tuesday as buyers attempted to drive it below the 20-day SMA. As a result, SOL fell to an intraday low of $222 before recovering and settling at $230. The price made a strong recovery on Wednesday, bouncing off the 20-day SMA to register an increase of 4.99% and settle at $242.
Source: TradingView
However, it was back in the red on Thursday, dropping almost 2% after facing substantial volatility and settling at $237. SOL recovered on Friday as buyers returned to the market, registering an increase of 2.41% to go above $240 and settle at $243. However, it was back in the red over the weekend, registering a drop of 2.33% on Saturday and settling at $237. Sellers remained in control on Sunday as SOL registered a marginal decline to end the weekend negatively. Selling pressure has intensified considerably during the ongoing session, with SOL down almost 6%, slipping below the 20-day SMA to trade at $223.
Algorand (ALGO) Price Analysis
Algorand (ALGO) has registered a stunning increase over the weekend, capturing investor interest. ALGO recently broke out of a prolonged sideways trend, with analysts expecting a strong rally, which has seemingly arrived. With the absence of any significant resistance, ALGO could surge towards $0.60 before sellers step in. ALGO’s breakout occurred following the US elections as the markets celebrated the result. While it registered a decline last weekend and started the previous week on a negative note, it was back in positive territory on Tuesday, surging by 14.49% to $0.297. The price fell back on Wednesday, registering a marginal decline before resuming its upward trajectory on Thursday, rising over 10% to $0.323.
Source: TradingView
Bullish sentiment intensified substantially on Friday, surging an unprecedented 37% and settling at $0.441. The weekend began with considerable volatility on Saturday as buyers and sellers struggled to establish control. ALGO ultimately registered a marginal increase and settled at $0.443. Bullish sentiment returned on Sunday as ALGO rose almost 10% to $0.496 despite facing significant volatility. However, the price is back in the red during the ongoing session as sellers prevent a move above $0.50.
Dogwifhat (WIF) Price Analysis
Dogwifhat (WIF) has declined substantially during the ongoing session after making an impressive recovery over the weekend. WIF started the previous week on a very volatile note as it surged to an intraday high of $3.65 before falling back to $3.17. Sellers took control on Tuesday as WIF fell below the 20-day SMA after a drop of almost 5% and settled at $3.02. However, WIF recovered on Wednesday thanks to strong support at this level, rising just over 3% and settling at $3.11. However, it was back in the red on Thursday, falling by 1.25% to $3.07.
Source: TradingView
Buyers returned to the market on Friday as WIF rallied almost 7%. However, it could not move past the 20-day SMA and settled at $3.28. With the 20-day SMA acting as resistance, WIF fell back on Saturday, dropping by 3.25% to $3.18. Sellers attempted to drive WIF below $3 on Sunday as it fell to a low of $3.05. However, it recovered from this level to rally by 8.05%, going above the 20-day SMA and settling at $3.43. WIF is back in the red during the current session, having slipped below the 20-day SMA with the price down over 10% as sellers look to push it below $3.
Tron (TRX) Price Analysis
Tron (TRX) fell to an intraday low of $0.185 on Tuesday as it started the previous week on a bearish note, with sellers dominating the market. However, it recovered from this level to climb above $0.190 and settle at $0.195. TRX recovered on Wednesday, registering an increase of almost 3% to settle at $0.200. Sellers attempted to lower the price on Thursday but were unsuccessful as TRX rose by 1.62% to move to $0.203. Friday saw a significant uptick in volatility as buyers and sellers attempted to exert control. Ultimately, neither could gain the upper hand and TRX remained at $0.203.
Source: TradingView
Buyers returned to the market over the weekend as TRX registered an increase of 0.81% on Saturday and 0.85% on Sunday to settle at $0.207. The current session sees TRX marginally down as buyers and sellers struggle to assume control.
Bittensor (TAO) Price Analysis
Bittensor (TAO) registered a substantial increase last week, but its momentum has stalled over the past couple of sessions as sellers drove the price below $600. TAO started the previous week on a positive note, rising by 3.35% to go above the 50-day SMA and settle at $546. It faced considerable selling pressure on Tuesday as the price fell to an intraday low of $503. However, TAO recovered from this level to register an increase of almost 3% and settle at $560. TAO surged to an intraday high of $721 on Wednesday but quickly fell below $600 to settle at $561, registering only a marginal increase.
Source: TradingView
Bullish sentiment returned on Thursday as TAO rose by 6.05% and settled at $595. An increase of 3.79% on Friday took TAO above $600 as it settled at $618. Buyers retained control on Saturday as TAO rose almost 10% to $678. However, buyers lost momentum after reaching this level as a move to $700 failed to materialize. As a result, TAO fell over 6% on Sunday and dropped to $636. The current session sees TAO down almost 6% as sellers look to drive it below $600.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
