The total cryptocurrency market capitalization increased to about .05 trillion throughout the past seven days, adding close to 0 billion. This comes on the back of stellar performance from most of the coins, including but not limited to Bitcoin, Ripple, Dogecoin, and more. But first, let’s dive into what Bitcoin did. The week started off relatively calmly. Last Friday, when we wrote our previous market update, it was trading at slightly less than K, but this all changed on November 11th, when the price broke ,000 for the very first time. The industry was ecstatic. It was a major cause for celebration. Little did we know that the bulls had something else entirely planned for the rest of the week. On November 12th, Bitocin tapped K for a new all-time high. What
Topics:
Jordan Lyanchev considers the following as important: BTCEUR, BTCGBP, btcusd, btcusdt, featured1, Market Updates
This could be interesting, too:
Wayne Jones writes VanEck Analyst Predicts Successive All-Time Highs for Bitcoin in Coming Months
Dimitar Dzhondzhorov writes 4 Reasons Why Bitcoin’s (BTC) Price Might See a Short-Term Correction
Chayanika Deka writes Bitcoin Wallet Awakens After 13 Years, Transfers .67M Amid Market Surge
Jordan Lyanchev writes BTC Price Explodes to K Despite Bitcoin Miners Reportedly Taking Profit
The total cryptocurrency market capitalization increased to about $3.05 trillion throughout the past seven days, adding close to $400 billion. This comes on the back of stellar performance from most of the coins, including but not limited to Bitcoin, Ripple, Dogecoin, and more.
But first, let’s dive into what Bitcoin did. The week started off relatively calmly. Last Friday, when we wrote our previous market update, it was trading at slightly less than $80K, but this all changed on November 11th, when the price broke $80,000 for the very first time.
The industry was ecstatic. It was a major cause for celebration. Little did we know that the bulls had something else entirely planned for the rest of the week. On November 12th, Bitocin tapped $90K for a new all-time high. What followed was a few hours, yes – hours, of consolidation and on November 13th, it exploded above $93K for a new peak. That’s when the bears decided to finally show up and push the price back below $90K, where it’s currently found at around $88,200.
Now, throughout this period, its dominance also exploded by 3%, which means that it managed to outperform the broader altcoin market. But this doesn’t apply to all altcoins.
Ripple (XRP), for instance, saw its token soar by some 60% as Gary Gensler wrote an open letter that many interpreted as his goodbye note. The community now expects him to step down before January 20th, when Trump has promised to fire him anyways.
Another major altcoin that exploded was Dogecoin (DOGE). It’s up by 85% over the past seven days in what seemed like a week where meme coins were popping left, right, and center. Perhaps the most fascinating story is that of Peanut the Squirrel (PNUT) – a meme coin that gained more than 1500% in the same period.
It seems that the bull market is raging on with full force, and it’s exciting to see what will follow in the weeks to come!
Market Data
Market Cap: $2.055T | 24H Vol: $266B | BTC Dominance: 57.3%
BTC: $88,415 (+16.7%) | ETH: $3,025 ( +3.9% ) | BNB: $606 (+1.7%)
This Week’s Crypto Headlines You Can’t Miss
Trump’s D.O.G.E. Promises to Slash Bureaucracy: Here’s What You Need to Know. During Trump’s campaign, one of the promises that popped up the most, at least those with some sort of connection to the crypto industry, was the Department of Government Efficiency (D.O.G.E). It was officially announced earlier this week, so here’s what you need to know about it. And yes, Elon Musk will spearhead it.
Ethereum ETFs Set Historic Positive Flows With $136M Marking Five-Day Streak. The spot Ethereum ETFs had a sluggish start but finally managed to reverse the trend this week and are actually in the green now. From Nov 11 to 13 they recorded three consecutive days of triple-digit net inflows for the first time ever.
4 Possible Reasons Behind PEPE’s 50% Surge to New All-Time High. It was another week of new bitcoin all-time highs, as explained above, but it also caught some altcoins. One of them was PEPE, which skyrocketed by over 70% at one point and painted a new peak after receiving support from Coinbase and Robinhood.
3 Reasons Why the PNUT Price is Up 1,500% Weekly. The week belongs to the recently launched Peanut the Squirrel (PNUT) token, which has taken the crypto world by storm. Its value shot up by four digits after listings on major exchanges like Binance. Despite retracing slightly from its peak, it is still close to $2 and its market cap is near $2 billion.
Indian Authorities Detain Suspect Linked to $230M WazirX Hack. The hack against the popular Indian crypto exchange took place in July this year and saw $230 million swiped from it at the time. According to local sources, the police have finally apprehended a suspect and have identified another one who is yet to be captured.
What’s Going On? Ripple Whales Holding Over 1M XRP at 6-Year High. Ripple’s native token had a massive week, surging past the $0.8 resistance and tapping a new 16-month peak. Moreover, whales have been accumulating substantial portions lately, which could be attributed to the changing political scene in the US as well as the potential resignation of the current SEC Chair, Gary Gensler.
Charts
This week, we have a chart analysis of Ripple, Cardano, Dogecoin, Shiba Inu, and Sui – click here for the complete price analysis.