As we enter the last week of November, Bitcoin (BTC) 
$98,576 is priced at $98,000. We mentioned on Friday that altcoin traders might see a smile over the weekend, and that turned out to be true. Many cryptocurrencies recorded gains of up to 20% on Saturday and today. So, what is the current state of the markets?
Bitcoin (BTC)
Since the November elections, BTC’s price has surged by over $30,000, exceeding $99,000. BTC is currently defending a support level at $97,138. Sustained high closures indicate that the markets are poised for even larger rallies. While BTC has paused its advance towards true all-time high (ATH) levels, it may break six-figure territories next week.
During bullish periods, altcoins often face pressure due to BTC dominance (BTCD) increases. However, brief consolidation periods, though short-lived, create room for altcoin upward movements. What we experienced over the weekend was similar.
Comments on Cryptocurrencies
Ether’s price has finally surpassed $3,400. Our earlier analysis indicated that closures above $3,380 could pave the way towards $3,800. If we see significant inflows into Ether ETFs starting Monday, this scenario could materialize, potentially driving liquidity to altcoins and targeting a rise to $5,000.
The total market capitalization of cryptocurrencies has exceeded $3.35 trillion, reaching new highs. According to CMC data, BTCD has dropped again. SAND and MANA Coin prices have experienced a remarkable turnaround, increasing by 77%. If we see positive developments in the metaverse space, it could signify a revival of trends in this area after years.
This week, XLM Coin experienced the largest surge with an increase of 185%. The dinosaur altcoin XLM jumped to $0.561, while other cryptocurrencies such as XTZ, HBAR, ALGO, DOT, and AXS recorded gains exceeding 60%.
The total trading volume of all cryptocurrencies continues to remain above $200 billion.
