Bitcoin reaches ceiling, altcoin season begins.


While the cryptocurrency market is up 0.1% in the previous 24 hours, it has struck resistance above $3.50 trillion twice since the week began, retreating back to $3.46 trillion.

According to CoinMarketCap, altcoin season is here as Bitcoin struggles to cross $100,000. The index started Tuesday at 83, up from 23 a month earlier.

Altcoins fuel crypto market greed. The index is 76 and has fluctuated from 75 to 84 this week.
Bitcoin is stabilizing around $100,000. It was attempted to break below $90,000 last week, but momentum is between $95,000 and $98,000.

XRP has tripled in price this month, making it the rocket. Its capitalization is reaching $150 billion, surpassing Tether at $135 billion and Solana at $100 billion. Beginning 2018, XRP spent fewer than 12 hours over $2.9, its last high. The price has stabilized around $2.6, where it was nearly six years ago for a week. At this level, a correction is likely.

Market participants expect the SEC to change leadership and dismiss the Ripple litigation, as well as the extension of crypto ETFs for XRP-related goods.

CoinShares reported a $370 million increase in worldwide cryptocurrency fund investment last week, after a record $3.124 billion the week before. Positive trend persisted for seventh week. Bitcoin investment fell $457 million, Ethereum investment rose $634 million, while XRP rose a record $95 million.

10x Research reported that Bitcoin balances on key exchanges are fast dropping to record lows, and long-term holders of the first cryptocurrency are not eager to join the market, worsening the supply shortfall.

Omkar Godbole of CoinDesk stated Ethereum is following Bitcoin's bullish trend before November. The cryptocurrency's eight-month decline is over.

MicroStrategy founder Michael Saylor stated the company acquired 15,400 BTCs for $1.5 billion at $95.976 per. Selling 3.7 million firm shares on the open market supported the currency acquisition. MicroStrategy holds 402,100 BTC worth $23.4 billion ($58,263 per coin).

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