At the end of November 2024, the crypto market is undergoing a significant correction. Bitcoin fluctuates around $93,400, while Ethereum shows resilience near its resistance level.
Bitcoin Correction: Reasons and Forecasts
This week, Bitcoin started a noticeable decline after reaching a new all-time high of $99,588. The 7% drop brought it to a low of $90,791 before a slight rebound. Technical analysis indicates a concerning bearish divergence on the RSI. Predictions suggest that Bitcoin will trade between $85,000 and $120,000 in December.
Ethereum and Ripple: Current Situation Analysis
Ethereum shows resilience amidst market correction, trading around $3,420. In contrast, Ripple exhibits weakness after losing weekly support at $1.40. Meanwhile, inflows into Ethereum ETFs have hit historic highs, reflecting institutional interest.
Market Future: Regulatory Changes and Forecasts
Changes at the SEC, including the departure of Gary Gensler and the potential appointment of Paul Atkins, may open new prospects for the crypto sector in 2025. His more favorable stance could positively influence the market's future development.
The end of November 2024 is marked by a significant correction in the crypto market. Bitcoin and Ethereum show divergent paths, while regulatory changes could impact the market's future direction.
