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Despite a 10% price increase in October, Shiba Inu (SHIB) shows signs of potential correction as bearish trends emerge.
Ripple XRP’s trading volume rose significantly, and transaction costs on the network dropped as the firm saw a notable uptick in microtransactions.
Both U.S. presidential candidates recognize cryptocurrency’s importance, courting crypto voters with policies favoring digital asset freedom. Bitwise CIO Matt Hougan views elections as beneficial regardless of winner, highlighting cryptocurrency’s growing regulatory framework.
This week, Dogecoin rallied 20% amid strong demand, while Goatseus Maximus and Moo Deng faced sharp declines due to bearish trends.
- 12:25Data: Bitcoin market share drops, currently reported at 58.35%ChainCatcher reports, according to TradingView data, the Bitcoin market share (BTC.D) has been continuously falling, currently reported at 58.35%, a drop of over 5% from its peak on November 21st.
- 12:24Analyst: Cryptocurrency investors may exhibit "rush" behavior before Trump's inauguration in January next year21Shares' crypto research strategist Matt Mena predicts that crypto investors will exhibit a "rush" behavior before Trump's inauguration in January next year, similar to the situation before the US presidential election day in November. At that time, investors drove up crypto prices due to their excitement about Trump's ultimate victory, and this kind of early activity could generate the momentum needed to break through $100,000. Analysts believe that investors have great expectations for Trump's second term. The president-elect has previously publicly supported cryptocurrencies and hinted at possibly creating a national Bitcoin reserve. He is also reportedly screening candidates for cryptocurrency-related positions in the White House.
- 12:22FxPro Analyst: The easing of the Beirut tension has weakened investors' demand for safe-haven assets such as BitcoinFxPro's chief market analyst, Alex Kuptsikevich, mentioned that the recent deep correction of Bitcoin could be attributed to other factors. The easing geopolitical tensions between Lebanon and Israel have weakened investors' demand for safe-haven assets like Bitcoin. In addition, Matt Mena, a crypto research strategist at 21Shares, said that such corrections have also occurred at previous highs of Bitcoin. He explained: "In March this year when Bitcoin was hovering around its historical high of $69,000 in 2021, a similar pattern had emerged. Bitcoin hovered around this price for nearly seven days before finally breaking through... When the price approached this level, many participants from the previous cycle began to take profits because they anticipated a possible correction."