Crypto Markets Today: Bitcoin (BTC), Ether (ETH) Prices Hold Steady
Bitcoin is trading around $105,000 and Ether near $3,550 as traders assess the strength of the recent recovery. A drop below $98,000 would indicate a bearish trend for Bitcoin, whereas a surge past the November 2 high of $111,000 could signal a bullish reversal. The crypto market remains pressured by the strength of the dollar, with the DXY index rising from 96.2 to 99.58 amid ambiguous comments from the Federal Reserve on interest rate cuts. UNI saw a 20% increase following a token burn proposal, but the Canton Network's CC token fell 33%, influenced by established banks' support. Current volatility, reflected in BTC’s implied volatility indexes, suggests a potential rise in market action despite a general phase of calm. The altcoin market has cooled down after heightened activity spurred by U.S. economic announcements. Traders will look for signs of continuation or rejection in Bitcoin and Ether prices as they seek new support levels.
Source 🔗