30s Summary

Bitcoin’s predicted push to $100k has failed, leading to decreased value, but attracting interest. $3.38B poured into U.S Bitcoin exchange-traded funds and software giant MicroStrategy bought 55,000 Bitcoin taking its total to 386,700. Despite these money movements, Bitcoin still didn’t reach the $100,000 mark, potentially leading more investors to take profits and Bitcoin’s price to further fall. Furthermore, while major cryptocurrencies including Ether, Solana, and BNB have faced drops, they demonstrate continued demand. However, caution is advised in the risky crypto market.

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Bitcoin’s attempt to reach the $100,000 mark didn’t work out, causing a drop in its value. But don’t worry, folks are expected to snap up Bitcoin at these lower prices.

Last week, U.S. Bitcoin exchange-traded funds had their biggest increase ever, with about $3.38 billion flowing in, according to SoSoValue, a platform that keeps track of this stuff.

Also, MicroStrategy, a big software company, bought a whopping 55,000 Bitcoin for $5.4 billion between Nov. 18 and Nov. 24. This takes their total Bitcoin stash to 386,700.

One thing to note though is that despite these major money moves, Bitcoin still didn’t break the $100,000 level. Because of this, some Bitcoin believers may decide to take their profits, resulting in a further drop in Bitcoin’s price.

Now, let’s take a look at the support levels (price levels where demand is thought to be strong enough to prevent the price from falling further) for Bitcoin and other digital currencies.

The S&P 500 Index hit a new record high on Nov. 25, but it looks like there’s some resistance to the upward trend.

The U.S. Dollar Index, a measure of the value of the U.S. dollar relative to a basket of foreign currencies, dropped from its resistance level of 108 on Nov. 22, showing that the bears are digging their heels in.

Bitcoin has seen some profit taking by the short-term investors, causing its price to hit the upward trend line.

Ether, the second-largest cryptocurrency, has seen a drop from the downward trend line on Nov. 23, but the good news is that the demand is still strong.

Solana has seen a pullback to the 20-day EMA ($225), indicating some people decided to cash in their profits.

BNB (another cryptocurrency) is having a hard time keeping its price above $667, which shows a lack of buying interest at these levels.

XRP, another digital currency, had a roller-coaster ride on Nov. 23 and 24, showing a tug of war between the buyers and the sellers.

Dogecoin managed to break the $0.44 resistance on Nov. 23, but profits were booked at higher levels.

Cardano found some support near the 50% Fibonacci retracement (a technical tool used by traders to predict potential price levels) level of $0.92.

Avalanche rebounded nicely from its breakout level on Nov. 24, indicating strong buying interest at lower prices.

Remember, investing in crypto is risky, so always do your research and consider your financial situation before jumping in.