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Bitcoin Today 11/27/2024: BTC stabilizes at $93,000 while altcoins recover
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THE Bitcoin (BTC) price stabilized at the level of US$93 thousand in the last 24 hours, after a period of sharp decline. Meanwhile, several altcoins recorded significant gains this Monday (27), with emphasis on XRP, Stellar (XLM), Avalanche (AVAX), Cardano (ADA) and Algorand (ALGO)
After reaching almost US$ 100 thousand in November 22Bitcoin went through a downturn that took its value to US$90.7 thousand on the day November 26th. This drop occurred despite positive factors, such as the record purchase of 55,500 BTC for the MicroStrategywhich represented an investment of US$5.4 billion.
On Tuesday (26), Bitcoin recovered some of the lost ground, trading above US$93 thousanda value that has remained stable in the last few hours. However, it is still unclear whether the cryptocurrency will try again to reach the symbolic milestone of US$ 100 thousand or whether it will face a longer correction.
At the time of writing, Bitcoin’s price is at US$93,377, with a positive variation of 2.0% in the last 24 hours, according to data from CoinGecko.
Bitcoin Price
THE market value of Bitcoin is in US$1.85 trillionwhile its dominance over altcoins remains above 57%.
While Bitcoin seeks stability, some altcoins have shown significant gains. THE XRPfor example, rose more than 10% in the last 24 hours to $1.43. This upward movement in the Ripple token is related to events such as the Donald Trump victory in the US presidential elections and the announced departure of Gary Genslerchairman of the SEC, scheduled for January 2025.
Stellar (XLM)in turn, records an appreciation of 8%recovering the level of $0.50. Avalanche (AVAX) and Cardano (ADA) also showed advances in 11% and 12%respectively.
Other well-known cryptocurrencies such as Ethereum (ETH), Tron (TRX), Polkadot (DOT), Shiba Inu (SHIB) and Litecoin (LTC)also recorded slight gains in the same period.
The total value of the cryptocurrency market is US$3.38 trillionrepresenting a slight drop in 1.1% compared to the previous day. This positive performance of several altcoins indicates that the market remains dynamicwith opportunities for investors in both Bitcoin as well as promising alternatives.
To Todaysgist, Paula Reis, CNPI-T Analyst partner at Ripio, highlighted that the scenario is still optimistic. She also reinforced her price target for BTC:
Bitcoin Today 11/27/2024: BTC stabilizes at $93,000 while altcoins recover
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Bitcoin Today 11/27/2024: BTC stabilizes at $93,000 while altcoins recover
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Bitcoin Today 11/27/2024: BTC stabilizes at $93,000 while altcoins recover
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Bitcoin Today 11/27/2024: BTC stabilizes at $93,000 while altcoins recover
