Crypto Market Dips, Trading Volume Declines; Bitcoin, Ethereum Down

The global crypto market declined marginally on Monday. The total market cap was down by 0.36 per cent to $3.35 trillion, while the total trading volume was down by 1.82 per cent to $198.67 billion.

Bitcoin BTC was the most trending cryptocurrency. It was down by 0.17 per cent to $98,155.97. Its 24-hour trading volume was 54.44 billion. The Sandbox SAND was the top gainer. It was up by 27.50 per cent. Its 24-hour trading volume was $5.46 billion. Tezos XTZ was the top loser. It was down by 6.65 per cent. Its 24-hour trading volume was $642.94 million.

DeFi was up by 1.38 per cent to $14.64 billion, Coinmarketcap.com reported.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, Bitcoin (BTC) faced significant resistance near $97,000, with manipulative trading tactics and heavy profit-taking preventing the price from breaking the $100,000 mark. Spoofing and liquidity games, including an ask wall around $99,000-$99,500, contributed to the price decline. On November 22, long-term holders made record profits of $443 million as BTC neared an all-time high of $99,800, with unrealized gains reaching 57%. Analysts warned of a possible correction as the market approached the highs of March 2024. Despite short-term resistance, long-term bullish sentiment remains, with some predicting that BTC could reach $175,000 by 2025, depending on market dynamics.

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 0.06 per cent to $98,155.97. Its 24-hour trading volume was $54.44 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 59.5 per cent.

Ethereum: Ethereum ETH was down by 0.70 per cent to $3,387.91 from the previous day. Its 24-hour trading volume was $28.73 billion. Ethereum’s market dominance was 13.3 per cent.

Tether: Tether USDT was trading at $1. It was down by 0.01 per cent. Its 24-hour trading volume was $159.76 billion. It was ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 0.41 per cent to $253.83. Its 24-hour trading volume was $5.33 billion.

Avalanche AVAX was trading at $41.73, down by 0.74 per cent. Its 24-hour trading volume was $1.37 billion.

Cardano ADA was down by 1.66 per cent to $1.05 from the previous day. Its 24-hour trading volume was $3.82 billion.

Meme Coins

Dogecoin DOGE was down by 2.71 per cent, with a 24-hour price of $0.4254.

Shiba Inu SHIB was down by 4.38 per cent to $0.00002564.

Decentralised Finance

DeFi coin was trading at $0.01783, down by 1.65 per cent.

Yearn Finance YFI was down by 4.83 per cent to $7,269.17 in the last 24 hours. Its 24-hour trading volume was $57.45 million.