from Cryptocurrency The market fell sharply last week. Total market cap was around $ 3 trillion earlier this week and briefly hit $ 2.55 trillion on Friday morning, a loss of $ 450 billion. Still, it seems for the time being that the bottom of this dip was hit on Friday.
The calm seems to be returning and the market is starting to turn green. Many prices started to recover on Friday and that will continue this weekend for the time being. Total market cap briefly hit $ 2.8 trillion last night but has dropped to $ 2.77 trillion this morning. Still several Altmünzen all things new All time highs (ATHs) this morning.
Bitcoin (BTC) fell to $ 55,600 on Friday morning causing quite a panic in the market. However, Bitcoin appears to be around those 50 days moving average to have found a floor. Bitcoin has rallied well since that slump, and the price hit $ 59,000 yesterday. It doesn’t look very stable just yet, however, and Bitcoin made another big drop towards $ 57,500 in the late afternoon yesterday.
Bitcoin then made a very strong one bounce and the price soared to $ 60,260 in an hour, up 4.8%. Bitcoin was still unable to hold that $ 60,000, however, and the price fell to $ 59,000 overnight. Bitcoin has fluctuated between $ 58,900 and $ 59,450 in the past few hours. The range seems to be getting smaller and smaller, so the price may break out again, but is it going up or down? The on-chain data still shows a bullish Picture the offer on Cryptocurrency exchanges still decreasing:
The crypto supply on the exchanges is decreasing
Lower supply available for sale can potentially reduce the pressure to sell depending on where crypto is being transferred pic.twitter.com/a4UiGf27PY
— IntoTheBlock (@intotheblock) 20. November 2021
Ethereum (ETH) still strongly correlates with Bitcoin. Ether fell as low as $ 3,950 on Friday and rallied to $ 4,300 yesterday. Ether also fell late in the afternoon yesterday, hitting a low of $ 4,200 and then rocketing to $ 4,450. There, too, the resistance for ether was a bit too great for the time being. The price has fallen slightly again and is currently fluctuating between USD 4,350 and USD 4,400. There’s a good chance that if Bitcoin breaks out, Ether will follow again.
However, the rest of the top 10 are lagging a bit behind today. Solana (SOL), Ripple (XRP), Polkadot (DOT) and Dogecoin (DOGE) are all about 1% down. Just outside the top 10, we still see Shiba Inu (SHIB) falling. The SHIB price also rose a bit last night, but then corrected more sharply downwards. SHIB is trading at $ 0.000046 this morning after falling 5% in 24 hours. The price is now 46% below the ATH it was three weeks ago.
In contrast, the avalanche (AVAX) continues to increase. Avalance now even has the 11the Taken from Shiba Inu’s largest crypto list. AVAX is up 14% again today, almost 40% this week and even 120% this month. The price set a new ATH of $ 138.23 this morning. AVAX’s market cap now tops $ 30 billion for the first time, very close to Dogecoin (DOGE), while Shiba Inu drops to $ 25 billion.
Avalanches don’t stop at the weekend either:
– $ 12 billion TVL on @uniwhalesio
– 6 billion US dollars bridged on the avalanche bridge
– 2: 1 tributaries over avalanche bridge since November 6th.
– 750,000 unique wallets on Avalanche (contract chain)
— Jay Kurahashi-Sofue 🔺 (@ jayks17) 20. November 2021
Then we have a handful of notable climbers. Crypto.com (CRO) is up 11% again, up 60% this week, and just hit a new ATH of $ 0.629226. Harmony (ONE) is also up 11%. Elrond (EGLD) is up nearly 13% this morning and has just hit a new ATH of $ 399. Can EGLD Break Through $ 400? Arweave (AR) is up 15% to stand at $ 72, which is still 20% below ATH from 2 weeks ago.
📈 $CRO has seen a big breakout this weekend as higher highs were hit with strong volume support. The $ 700 million purchase of the naming rights to the house of the #Lakers may have asked #Kryptocom on the mainstream map. Read our metrics analysis! https://t.co/Tl8birXDeI pic.twitter.com/gNIbgvWuR5
-Santiment (@santimentfeed) 21. November 2021
By far the fastest newcomer on the market today and this week is gala (GALA). This “Metaverse” token has increased by 26% today and by almost 400% (!) This week. GALA just hit a new ATH of $ 0.476253.