On November 27, 2024, the cryptocurrency market witnessed a clear divergence, with Bitcoin (BTC) falling sharply to 92,500 USD, breaching the support mark of 91,000 USD. Although the price of BTC decreased by more than 2% in the past 24 hours, the coins Altcoins again had a good performance, when index BTC.D (Bitcoin Dominance) dropped sharply, showing the strength of other coins.
Outstanding information about BTC and the cryptocurrency market:
- Bitcoin (BTC)
- BTC price is currently trading around the mark 92,500 USDdown more than 2% in the past 24 hours. The capitalization of BTC reaches approx 1.83 trillion USDwhile the trading volume is more 100 billion USD.
- Spot BTC ETFs recorded negative capital flows 120.5 million USD in the trading session on November 26, mainly coming from large funds such as FBTC of Fidelity (withdrawal of 95.7 million USD) and GBTC of Grayscale (withdrawal of 36.1 million USD). This has contributed to pulling BTC prices down.
- Altcoins shine:
- Altcoins have a strong showing, with many billion-dollar coins among the top gainers on Binance:
- ALGO: Increase 15%
- EIGEN: Increase 11%
- FTM: Increase 9%
- Altcoins have a strong showing, with many billion-dollar coins among the top gainers on Binance:
- Notable events:
- Dan Morehead (founder of Pantera Capital) said the company’s Bitcoin investment has increased 1,300 times since 2013 and BTC price forecast can reach 740,000 USD in 2028.
- Avalanche (AVAX) Upgrade testing has begun Avalanche9000promises to reduce to 99% of the cost of implementing a new blockchain.
- Tornado Cash ($TORN) witnessed strong price increases, with token prices increasing nearly 10 times after a US court ruled sanctions against Tornado Cash were illegal.
- Thena ($THE) from Binance was listed at 17:00 November 27 (according to Vietnam time).
- Binance will delist 5 coins, incl $GFT (Gifto), $IRIS (IRISnet), $KEY (SelfKey), $OAX (OAX) and $REN (Lace) from date December 10, 2024.
- Other information:
- Former CEO Binance CZ posted in favor of “real” blockchain platforms, advising investors to choose real blockchains instead of Memecoin.
- Telegram reported possession 1.3 billion USD in cryptocurrency, three times the number 400 million USD by the end of 2023. This is partly due to the strong growth of the token TON this year.
- Jim Crammerfamous host, shared that Bitcoin and Ethereum deserves a place in his investment portfolio, but the cryptocurrency community is concerned because he often “misses his guesses”.
In short:
Although Bitcoin price has dropped sharply, Altcoins are showing strength and stability amid Bitcoin’s decline. Notable events from major coins such as AVAX, TORNand THE shows that the cryptocurrency market has no shortage of attractive opportunities for investors.