Bitcoin's price has recovered after falling below $96,000.
Bitcoin's price has recovered after falling below $96,000. The price of the premier cryptocurrency has recovered after falling below $96,000.
Bitcoin dominance chart
The price of Bitcoin (BTC) is back around $98 thousand. On Sunday 24 November, the price of the first cryptocurrency had fallen to $95.8 thousand, only to reverse course and rise again. At 10:50 a.m. on 25 November, Bitcoin was trading around $97.9 thousand.
On 22 November, Bitcoin had approached the psychological threshold of $100 thousand, reaching $99,588 on Binance and $99,860 on Coinbase. However, the cryptocurrency failed to break through the six-digit mark: the price underwent a correction and has since remained in a range between $96,000 and $98.5,000.
Bitcoin has declined by 0.4 per cent over the past 24 hours. According to TradingView, its market share is 59.13%. The cryptocurrency's trading volume over the past 24 hours was $46 billion.
Total cryptocurrency market capitalisation fell 2.1% to $3.49 trillion, with a total trading volume of $250 billion.
In the past 24 hours, following the initial drop and subsequent recovery of prices in the cryptocurrency market, exchanges have liquidated long and short positions totalling $490 million. Those who had bet on falling prices lost $130 million, while those betting on rising prices lost $360 million.
The price of Ethereum (ETH) in the past 24 hours has fallen as low as $3.29 thousand. At 10:50 a.m., the main altcoin was trading around $3.37 thousand, down 1.2 per cent from the previous day. Ethereum's market share is 11.7 per cent. Among the top 10 cryptocurrencies by capitalisation, all of them saw price declines. The Tron (TRX) token saw the largest decrease, down 3.4 per cent, while Ripple (XRP) suffered the smallest drop of 0.2 per cent.
Of the top 100 cryptocurrencies, the GameFi token The Sandbox (SAND) saw the most significant increase, at 29 per cent. Stellar (XLM), on the other hand, suffered the steepest drop, with a loss of 11.1%.
How it Happened and what Happens Now
The price of Bitcoin against the US dollar on Coinbase, the largest cryptocurrency exchange in the US, has performed slightly better than pairs with the USDT stablecoin on the crypto market's two largest exchanges - Binance and Bybit, which are not accessible in the US - since the start of its surge in November. This likely reflects the dominance of cryptocurrency demand by North American traders.
Over 20% of global cryptocurrency market activity is concentrated in North America. A significant portion of this activity takes place in the United States, where Bitcoin-based exchange-traded funds (ETFs) were introduced in early 2024, essentially allowing cryptocurrencies to be traded legally as stocks on the NASDAQ or NYSE. The capital under management by these ETFs has surpassed $100 billion, with a group of 12 Bitcoin ETFs from issuers such as BlackRock, Grayscale, Bitwise and Fidelity reaching this milestone just ten months after their launch and debut on exchanges.
Despite the price drop over the weekend, analysts predict that the cryptocurrency market's growth will continue and that Bitcoin will surpass the $100,000 mark. According to forecasts, it is possible that BTC's growth will slow down after reaching the $102,000 to $105,000 area, which could open up opportunities for altcoin growth.
The second-largest cryptocurrency by market capitalisation has been falling relative to Bitcoin's price for more than two years.
Why has Ethereum been weaker than its competitors?
The price of the main cryptocurrency has been rising almost without significant correction since Donald Trump's victory in the US presidential election.
Bitcoin's price has recovered after falling below $96,000. The price of the premier cryptocurrency has recovered after falling below $96,000.
The price of Bitcoin (BTC) is back around $98 thousand. On Sunday 24 November, the price of the first cryptocurrency had fallen to $95.8 thousand, only to reverse course and rise again. At 10:50 a.m. on 25 November, Bitcoin was trading around $97.9 thousand.
On 22 November, Bitcoin had approached the psychological threshold of $100 thousand, reaching $99,588 on Binance and $99,860 on Coinbase. However, the cryptocurrency failed to break through the six-digit mark: the price underwent a correction and has since remained in a range between $96,000 and $98.5,000.
Bitcoin has declined by 0.4 per cent over the past 24 hours. According to TradingView, its market share is 59.13%. The cryptocurrency's trading volume over the past 24 hours was $46 billion.
Total cryptocurrency market capitalisation fell 2.1% to $3.49 trillion, with a total trading volume of $250 billion.
In the past 24 hours, following the initial drop and subsequent recovery of prices in the cryptocurrency market, exchanges have liquidated long and short positions totalling $490 million. Those who had bet on falling prices lost $130 million, while those betting on rising prices lost $360 million.
The price of Ethereum (ETH) in the past 24 hours has fallen as low as $3.29 thousand. At 10:50 a.m., the main altcoin was trading around $3.37 thousand, down 1.2 per cent from the previous day. Ethereum's market share is 11.7 per cent. Among the top 10 cryptocurrencies by capitalisation, all of them saw price declines. The Tron (TRX) token saw the largest decrease, down 3.4 per cent, while Ripple (XRP) suffered the smallest drop of 0.2 per cent.
Of the top 100 cryptocurrencies, the GameFi token The Sandbox (SAND) saw the most significant increase, at 29 per cent. Stellar (XLM), on the other hand, suffered the steepest drop, with a loss of 11.1%.
How it Happened and what Happens Now
The price of Bitcoin against the US dollar on Coinbase, the largest cryptocurrency exchange in the US, has performed slightly better than pairs with the USDT stablecoin on the crypto market's two largest exchanges - Binance and Bybit, which are not accessible in the US - since the start of its surge in November. This likely reflects the dominance of cryptocurrency demand by North American traders.
Over 20% of global cryptocurrency market activity is concentrated in North America. A significant portion of this activity takes place in the United States, where Bitcoin-based exchange-traded funds (ETFs) were introduced in early 2024, essentially allowing cryptocurrencies to be traded legally as stocks on the NASDAQ or NYSE. The capital under management by these ETFs has surpassed $100 billion, with a group of 12 Bitcoin ETFs from issuers such as BlackRock, Grayscale, Bitwise and Fidelity reaching this milestone just ten months after their launch and debut on exchanges.
Despite the price drop over the weekend, analysts predict that the cryptocurrency market's growth will continue and that Bitcoin will surpass the $100,000 mark. According to forecasts, it is possible that BTC's growth will slow down after reaching the $102,000 to $105,000 area, which could open up opportunities for altcoin growth.
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