Bitcoin (BTC) Consolidates at $93,000, Altcoins Try to Break Out (Market Watch)

Bitcoin (BTC) has stabilized around $93,000 after a downtrend period in recent days.

Meanwhile, numerous altcoins entered green territory today (November 27). Some of the notable profits include Stellar (XLM), Avalanche (AVAX), Cardano (ADA) and more.

BTC wants to go back to $100,000?

The past few days have not been kind to the mainstream cryptocurrency, which saw its price drop from nearly $100,000 on November 22nd to around $90,700 on November 26th. Interestingly, the pullback coincided with some bullish developments, such as MicroStrategy’s record purchase of 55,500 BTC. equals about $5.4 billion).

In the last 24 hours, however, the bulls have managed to regain some of the lost ground, pushing the asset’s valuation above $93,000 (a level that has held for the past few hours).

BTC Price, Source: CoinGecko

It will be interesting to see if BTC will make another attempt towards the psychological $100,000 mark or if the correction will last a bit longer.

Meanwhile, the asset’s market capitalization has dropped to $1.85 trillion (according to CoinGecko data). However, BTC’s dominance over altcoins remains above 57%.

High in motion

Unlike Bitcoin, some altcoins have witnessed substantial price increases on a 24-hour scale. Stellar (XLM) continues to amaze the crypto community, recording a new resurgence of 8% and recovering to $0.50. Avalanche (AVAX) and Cardano (ADA) have also performed quite well, with gains of 6% and 4%, respectively.

Ripple’s XRP is also in the club, albeit with a more modest increase of 2%. At the same time, its price has risen almost 180% in the last month thanks to some important events such as Trump’s victory in the US presidential election and the announcement by Gary Gensler (the chairman of the US SEC) to leave his position in January next year. .

Other well-known altcoins that recorded mild bombs in the last 24 hours include Ethereum (ETH), Tron (TRX), Polkadot (DOT), Shiba Inu (SHIB), Litecoin (LTC) and others.

The total market capitalization of the crypto sector currently stands at $3.36 trillion, which represents a 1% drop since November 26.

Cryptocurrency Market Review, Source: QuantifyCrypto

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