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Here’s Why Bitcoin, ETH, SOL, XRP, DOGE Falling Suddenly

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The crypto market witnessed a sharp selloff on Monday as $90 million in positions were liquidated within an hour. Bitcoin price slipped more than 1%, whereas Ethereum price dropped nearly 2% due to profit-booking by investors.

Top altcoins such as Solana (SOL), BNB, XRP, Cardano (ADA) also tumbled 2-3% after a massive price rally in the last 24 hours. Meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) plunged 6% in an hour.

While the crypto market seems extremely bullish after pro-Bitcoin Donald Trump’s win in the US presidential elections, some data signals a crash.

Will Crypto Market and Bitcoin Crash Soon?

Coinglass data indicates the crypto market recorded $90 million in liquidation in 4 hours and $650 million in the last 24 hours. Notably, $75 million in long positions and $15 million in short positions were liquidated in a few hours, triggering a selloff in the market.

Over 217K traders were liquidated, with the largest single liquidation order happened on crypto exchange OKX, with a BTC-USDT swap trade valued at $15.56 million.

crypto market selloffcrypto market selloff

Bernstein analysts gave a Bitcoin price target of $90,000 by year-end. BTC price made a new all-time high of $81,858 today, indicating a bullish rally in the top crypto. However, the derivatives market data signals concerns of a massive selloff that could trigger a crypto market crash.

BTC implied volatility (IV) in all terms is falling sharply, especially BTC ATM-7 IV. Bitcoin At-the-money (ATM) implied volatility is a market’s forecast of a likely movement in price for BTC. Thus, options traders don’t see Bitcoin price rallying further currently.

Bitcoin implied volatilityBitcoin implied volatility
Source: The Block

As a result, major crypto such as Ethereum, Solana, XRP, and Dogecoin prices dropped and triggered a broader crypto market selloff.

Moreover, Mt. Gox moved over 30,371 BTCs worth $2.44 billion to two wallets on Monday, as per Arkham data. This has raised some concerns among investors as these typically imply that an exchange plans to sell tokens soon.

Weakness in Bitcoin, ETH, XRP, DOGE Due to Macro Factors

China’s latest stimulus measures of 10 trillion yuan debt package has disappointed investors, leading to a shift in sentiment. The markets are bracing for initial volatility as the Donald Trump administration is anticipated to make major policy changes.

The looming US CPI and PPI inflation, along with jobless claims and Fed Chair Jerome Powell speech this week are impacting the crypto market. Economists forecast the inflation data to come in higher and could impact market amid political shift in the United States.

However, popular analysts are bullish on Bitcoin price for long term. Veteran trader Peter Brandt predicted a complex continuation inverted head-and-shoulder pattern formation sets BTC price target to almost $125K by year-end and $300K in the longer term.

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It is important to note that despite skepticism for this pattern, notable analysts such as Richard W. Schabacker, Robert Edwards, and John Magee have accepted this pattern.

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Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Dogecoin Eyes Parabolic Rally To Price Discovery, Is The 16,000% Surge From 2020 Possible This Time?

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The Dogecoin price is again eyeing a parabolic rally that will put the meme coin in price discovery and send it to new highs in this market cycle. Crypto analyst Mikybull Crypto indicated that the Dogecoin price could replicate its 16,000% surge from 2020 as it enters price discovery. 

Dogecoin Eyes Parabolic Rally To Price Discovery

In an X post, Mikybull Crypto stated that DOGE’s massive parabolic rally to price discovery is loading. The analyst remarked that the entry into price discovery is interesting, as the Dogecoin price rallied more than 16,000% in 2020 when it broke above the Relative Strength Index (RSI) 70 level. 

In line with this, Mikybull Crypto stated that the $1 to $3 range remains a target for the Dogecoin price in this bull run. The analyst also recently suggested that DOGE could rise to as high as $4 based on the alignment of the Fibonacci levels with DOGE’s performance after the last Golden Cross. 

Dogecoin price 1
Source: X

Crypto analyst Master Kenobi also recently stated that the Dogecoin price could rise to as high as $2 in this market cycle. He believes this would happen through the rapid flow of capital and frenzy in the market. Interestingly, the analyst made this prediction while raising the possibility of DOGE flipping Solana and BNB to become the third-largest crypto by market cap. 

Meanwhile, the analyst also suggested in a recent analysis that DOGE would make its way into price discovery soon enough. This came as he highlighted a 91-day sequence, which Master Kenobi noted DOGE was 20 days away from completing. He predicted that DOGE could rally to as high as $1 between now and then. Specifically, he put December 2 as the timeline for when the target could be achieved. 

Crypto analyst Dj Anas also recently predicted that the Dogecoin price could reach $1 by year-end. He made this prediction based on the Fibonacci levels, which he claimed supported a parabolic rally to this target. 

DOGE Could Witness A Correction First

Amid these bullish predictions for the Dogecoin price, crypto analyst Kevin Capital has suggested that DOGE could witness a correction first before it goes into price discovery. In an X post, the analyst highlighted a symmetrical triangle and said there is a 50/50 chance of a price breakout or breakdown. 

Dogecoin price 2
Source: X

However, he remarked that he still favors a correction due to the daily RSI being above 90, which suggests that the meme coin is currently in overbought territory. The analyst had previously predicted that Dogecoin could drop to as low as $0.26 following a price correction. 

At the time of writing, the Dogecoin price is trading at around $0.39, up over 7% in the last 24 hours, according to data from CoinMarketCap. 

Dogecoin price chart from Tradingview.com
DOGE price still holding $0.38 support | Source: DOGEUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com



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Binance Launchpool To List Usual (USUAL) With Pre-Market Trading

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Binance Launchpool has recently announced the listing of Usual (USUAL) on its platform, sparking market optimism. The launch of the listing will offer users an opportunity to farm the tokens. The exchange will begin the farming process, allowing users to lock their BNB and FDUSD to earn USUAL rewards.

Binance Launchpool to Feature USUAL

Binance Launchpool has announced that it will list USUAL starting November 14. This announcement marks the launch of Usual, a decentralized fiat-backed stablecoin, with pre-market trading to begin on November 19. The exchange users can lock their BNB and FDUSD to farm USUAL tokens, receiving rewards over four days.

The USUAL token will be paired with USDT for pre-market trading, allowing users to trade the token once the pair goes live. The farming of USUAL tokens will begin as users participate in Binance’s Launchpool offering.

Each user will have a maximum holding limit of 40,000 USUAL tokens, with a total token supply of 4 billion USUAL. Of that, 300 million tokens 7.5% will be allocated for Launchpool rewards. This initiative is a significant step in expanding the exchange’s role in the decentralized finance (DeFi) space.

However, users from certain countries, such as the United States, Canada, Japan, and North Korea, will not be eligible to participate. Binance has stated that KYC verification is required for those looking to farm USUAL tokens.

BNB Ecosystem And Market Performance

The listing of Usual on Binance Launchpool marks a new chapter in the DeFi space, offering a decentralized fiat-backed stablecoin. This launch comes at a time when meme tokens like ACT and PNUT have witnessed impressive price surges after their listings, indicating strong market interest in new projects.

BNB Price is currently trading at $634, with a 24-hour low of $605 and a high of $659. The coin has seen a 5% increase in the past 24 hours, a 6.8% rise over the last week, and a 7.6% gain in the last month.Its 24-hour trading volume stands at $3.7 billion, demonstrating robust demand.

The global crypto market is experiencing a bullish trend. Additionally, the recent US election victory by Donald Trump has sparked optimism among Bitcoin supporters. Binance founder CZ’s new initiative, Giggle Academy, is also gaining attention. The project aims to educate users in key target countries.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Expands Offerings For ACT, PNUT, NEIRO Sparking Optimism, What’s Next?

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In an effort to further uplift market sentiment, leading crypto exchange Binance announced on Thursday that it is expanding offerings for three tokens. The crypto exchange revealed that it is listing new pairs for The AI Prophecy (ACT), Peanut The Squirrel (PNUT), and First NEIRO on Ethereum tokens, sparking investor curiosity. Meanwhile, the listed coins’ prices soared 3%-32%, signaling that the broader market reacted positively to the listings announcement.

Binance Lists ACT, PNUT, & NEIRO Echoing Market Optimism

According to an official Binance announcement dated November 14, the crypto exchange is expanding offerings for the aforementioned tokens starting November 15 at 08:00 UTC. Per the listing announcement, the exchange is adding The AI Prophecy in FDUSD and USDC trading pairs. Further, the crypto exchange is also adding NEIRO in the USDC trading pair.

Simultaneously, the crypto exchange’s announcement revealed that Peanut The Squirrel will be added to the spot trading platform in BTC, FDUSD, and USDC trading pairs on the same date and time. Also, the leading crypto exchange highlighted that it will enable spot Algo Orders for ACT in FDUSD and USDC pairs, NEIRO/USDC, and PNUT in BTC, FDUSD, and USDC pairs. Overall, the announcement reverberated substantial market optimism over the listed coins’ price movement amid a bullish crypto market.

How’s The Current Market Sentiment For Listed Coins?

At the time of reporting, NEIRO price soared 3% over the past day and is now trading at $0.002479. The coin’s intraday low and high were $0.002285 and $0.002749, respectively.

NEIRO priceNEIRO price
NEIRO price

Simultaneously, The AI Prophecy price gained 9% intraday to rest at $0.7519. Its 24-hour low and peak were $0.542 and $0.942, respectively.

ACT price amid Binance listingACT price amid Binance listing
ACT price

Additionally, Peanut The Squirrel price witnessed gains worth 32% over the past day to rest at $1.88. The token’s intraday low and high were $1.28 and $2.47, respectively.

PNUT price amid Binance listingPNUT price amid Binance listing
PNUT price

Overall, the bullish price trajectories fall in line with Binance’s listing announcement. Notably, CoinGape Media previously reported ACT price to have soared 1300% and PNUT 250% in light of the same exchange’s previous spot listings and Elon Musk’s X post, which has fueled market speculation.

Meanwhile, NEIRO price witnessed a whopping 115% surge with its listing on major exchanges. Altogether, these past chronicles underscore the listed tokens’ potential to offer further gains in the market.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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