Crypto analysts are forecasting a possible market pullback in December before the next upward movement takes hold.
A recent evaluation of the top 100 digital assets from November highlighted an overheated funding rate, suggesting the market may be due for a brief correction.
Stellar (XLM) outperformed the competition with a remarkable 478% gain over the last month. Virtual Protocol (VIRTUAL) followed with a 336% increase, while XRP and Algorand (ALGO) tied for third place with gains of 268% each.
The November rally, largely driven by the anticipation surrounding Donald Trump’s U.S. presidential victory, propelled Bitcoin to new heights, with the cryptocurrency surging 48% since November 5 and nearing the $100,000 mark—hitting an all-time high of $99,800. This marked a significant leap past the previous pre-halving high of $73,000, sparking a broader market rally.
Despite the bullish trend, the surge has introduced a range of complex factors, influenced by both macroeconomic and sociopolitical elements. Bitcoin’s proximity to the $100,000 threshold has traders divided between taking profits or betting on continued growth.
Technical indicators suggest that the market is currently overbought, signaling a potential pullback. Long-term investors may look to take profits, while the political landscape in the U.S. adds a layer of uncertainty. Trump’s pro-crypto stance and his recent appointments have fueled optimism about the sector’s future. However, many analysts believe the market will see a brief consolidation before gearing up for the next rally phase in the coming months.
Bitcoin’s network hashrate has fallen 3.5% since mid-June, marking the sharpest decline in computing power since July 2024.
Bitcoin has officially overtaken Alphabet (Google’s parent company) in global asset rankings, becoming the sixth most valuable asset in the world, according to the latest real-time market data.
Philippe Laffont, the billionaire behind Coatue Management, is beginning to question his stance on Bitcoin.
Personal finance author Robert Kiyosaki is urging investors to rethink their approach to money as digital assets reshape the economic landscape.