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Crypto Markets Today: BTC Price Slips, XPL, ENA Slide as AI Spending Concerns Hit U.S. Equities

Cryptocurrency prices have declined in the past 24 hours, with the CoinDesk 20 Index dropping 1.7%. Bitcoin saw a slight decrease of 0.2%, settling just under $110,000, while ether fell by 1.3% as broader altcoin markets suffered along with U.S. equities. This sell-off followed announcements from tech giants Meta and Microsoft regarding increased AI investments, raising concerns about overspending. Notable altcoins, including doublezero, plasma, gate token, and ethena, experienced significant drops, while zcash managed to gain. The derivatives market shows a mix of sentiment; bitcoin futures reflect low demand with a slight decrease in open interest. In options trading, there is an emergence of more bearish sentiment, leading to increased put volume. Liquidations totaled $879 million, favoring long positions. The altcoin sector is in a precarious position as ether tests critical support levels, with potential implications for the overall crypto market based on its performance this weekend.

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Record $1.26B Outflow Hits BlackRock Bitcoin ETF as Bearish Options Cost Soars

BlackRock's Bitcoin ETF, IBIT, has encountered a monumental net outflow of $1.26 billion in November, marking the most significant withdrawal since its inception in January 2024. This outflow comes amidst a price decline of 16%, bringing the share price down to $52, a level not seen since

Mastercard Picks Polygon to Bring Verified Usernames to Self-Custody Wallets

Mastercard has announced its collaboration with Polygon to introduce a system allowing users to send cryptocurrencies using verified usernames instead of lengthy wallet addresses. This new feature, referred to as the Mastercard Crypto Credential, aims to enhance security and user-friendliness in crypto transactions. By utilizing the services of Mercuryo, a

Bitcoin Dominance is Bleeding With Price, But Market Observers Say Altcoin Season is on Hold

Bitcoin's recent decline in price and dominance rate indicates a broader market deleveraging rather than a straightforward rotation into altcoins. While Bitcoin has dropped nearly 16% this month, its dominance has slipped from 61.4% to 58.9%. Despite speculation about an upcoming 'altcoin season', many

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