Crypto Markets Today: Bitcoin (BTC), Ether (ETH) Prices Hold Steady as Traders Brace for Next Big Move
Bitcoin is trading around $105,000 while Ether hovers near $3,550, as traders assess market dynamics after a period of recovery. A drop below $98,000 could signify a bearish trend for Bitcoin, whereas surpassing the November 2 high of $111,000 may indicate a bullish reversal. The broader crypto market faces pressure from the strengthening dollar, with the DXY index rising significantly. In terms of volatility, Bitcoin and Ether's implied volatility remains stable, reflecting a calm market environment, although demand for downside protection is higher for Bitcoin. Uniswap's UNI token spiked over 20% due to a token burn proposal, while the newly launched Canton Network (CC) token saw a sharp decline of 33% despite support from major banks. The recent altcoin market rally showed signs of cooling after U.S. President Trump's announcement of a dividend for citizens, underlining the fragility of current trends. The future direction of Bitcoin and Ether will be pivotal for the altcoin market's recovery or further decline.
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