Cryptocurrency Price Forecast: Bitcoin, XRP, Ethereum Analysis – European Wrap-Up Nov 29
Bitcoin (BTC) is on the move again as it inches closer to the $100K mark following a recent correction. At the same time, Ethereum (ETH) and Ripple (XRP) are also making strides, surpassing key resistance levels and signaling a potential rally ahead.
In the broader crypto market, there has been an overall uptick, with the total market cap reaching $3.32 trillion (a 0.5% increase in the last 24 hours). However, while Bitcoin is seeing modest gains, Ethereum has dipped 3% from its recent peak, and XRP has surged by about 9%, hitting highs not seen since 2021.
Today, over $10 billion in Bitcoin and Ethereum options are set to expire, marking a significant event that could introduce short-term volatility and impact market trends. Analysts are keeping a close eye on the volume and value of these expiring contracts to gauge potential market movements. Interestingly, the put-to-call ratios for BTC and ETH options suggest a prevailing preference for call options, indicating a bullish sentiment among traders.
It’s essential to remember that investing in cryptocurrency markets carries risks, including the potential loss of your investment and emotional stress. Therefore, it’s crucial to conduct thorough research before making any investment decisions based on the information presented here. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet or its advertisers.
