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Bitcoin’s recent drop below its realized price points to bearish trends, with potential lows of $66,575 if selling pressure persists.
Some developing countries are viewing Bitcoin as a means to achieve financial autonomy and reduce reliance on the US dollar.
DOGE has dumped the most from the larger-cap alts.
Quick Take This is an excerpt from the thirteenth edition of The Funding sent to our verified subscribers on Nov. 3. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
Coins LUCE, GRASS, and ZEREBRO are trending on Solana, showing strong demand, transaction growth, and potential for gains.
The accusations led to swift action from OpenEden, which terminated Ng, and DWF Labs, which withdrew its funds and condemned his alleged behavior.
As Solana's price remains above critical support levels, explore what analysts expect for SOL in November following its impressive October rally.
- 03:07MemeFi is now live on Sui Network, with a 24-hour increase of more than 75%On November 27, according to MemeFi's official tweet, MemeFi has officially launched Sui, becoming the first GameFi project that spans the TON+SUI dual ecosystem. The number of MemeFi chain holders has exceeded 2.5 million. In addition, MemeFi will also provide detailed documents for this airdrop and the roadmap after the token TGE. MemeFi's popularity on Telegram continues to be hot. On November 26, the perpetual contract transaction volume reached 1.5 billion US dollars, and the current price is 0.01131 US dollars, with a 24-hour increase of more than 75%.
- 03:00Top trader Eugene: Have bought ETH during the market downturnTop trader Eugene Ng Ah Sio posted, "I bought some ETH during this dip. Although the market signals are still not very clear, the trends of BTC and MSTR imply that the Bitcoin train has clearly stopped." According to the most basic "10 IQ capital flow logic", it should be ETH's turn to rise now, and its current price around 3000 dollars seems like a bargain.
- 02:56Analyst: Bitcoin daily line shows adjustment, altcoins remain resilientAccording to analyst Duck Army on platform X, Bitcoin (BTC) displayed a small bearish candle with upper and lower wicks on its daily chart, indicating a normal downward adjustment with slightly higher trading volume than the day before yesterday. The daily MA30 remains on an uptrend, but the MACD indicates a shift from weakening bullish momentum to strengthening bearish momentum. Nevertheless, the candle began to shorten and formed a pattern similar to a doji, suggesting weakening bearish momentum, which makes a significant further downturn unlikely. A rebound is expected after some consolidation, with potential target levels between $96,000 and $98,000. It's noteworthy that despite Bitcoin's retracement, altcoins showed strong resistance to the drop, with some even rising against the market trend. The focus might shift to those altcoins that have had minimal gains at the bottom, which are expected to experience a catch-up rally. Technical indicators place Bitcoin's daily resistance levels between $94,600 and $126,000, with support levels ranging from $87,400 to $79,830. From a short-term trading perspective, the market is currently experiencing a rebound at the 8-hour level of the daily MA30, returning to a 10-minute bounce within the 8-hour support zone. It is suggested to go long at $90,600 and enter short positions between $93,200 and $94,320, while closely monitoring stop-loss points. According to the liquidation heat map, there are substantial unresolved short positions in the $94,750 to $101,900 range, and a large number of long positions provide support between $90,800 and $88,600.
