The crypto market’s rebound this week was rather short-lived as a majority of assets reflected losses on Tuesday, November 11. Bitcoin dropped in price by 0.73 percent to trade at $105,432 on Tuesday, data by CoinMarketCap showed. The asset had breached the $106,000 price mark on November 10 – however factors like the upcoming CPI data, U.S. political decisions, and the Fed’s stance on interest rates – have restricted a smooth climb for Bitcoin.
In conversation with CoinHeadlines, market analysts said that Bitcoin’s immediate technical outlook requires a sustained break above the $110,000 resistance to confirm a strong bullish continuation.
“Bitcoin’s price is currently showing resilience and consolidation. The investor sentiment remains cautious despite the bounce, indicating uncertainty driven by macroeconomic factors, particularly the US Federal Reserve’s stance on interest rates,” said Sathvik Vishwanath, Co-Founder and CEO of Unocoin. “However, strong accumulation by large investors in the recent dip suggests underlying institutional demand, making the $100,000 level a critical floor against deeper corrections.”
Ether tailed Bitcoin in its price action and registered a loss of 1.26 percent in the last 24 hours. The asset is presently trading at $3,563, down from its previous day’s value of $3,602.
“Ethereum has reclaimed the $3,600 level as the US shutdown nears its end. This has formed an attractive accumulation zone. Open interest in crypto futures rose five percent in 24 hours to $148 billion, showing traders are regaining trust and re-entering the market with leverage,” Edul Patel, CEO of Mudrex told CoinHeadlines. “With improving political stability and expectations of softer CPI data under 3.1 percent, markets are preparing for an upward move in the coming weeks.”
BNB, Solana, Tron, Dogecoin, Cardano, Chainlink, and Zcash registered losses alongside BTC and ETH on Tuesday. Litecoin, Monero, World Liberty Financial, and Near Protocol also saw price dips, showed CoinMarketCap.
Chainlink, Bitcoin Cash, Stellar, and Hedera managed to see minor gains. Ripple also clocked-in small profits of under two percent to trade at $2.49.
The crypto market cap dipped by 0.66 percent in the last 24 hours to hit the valuation of $3.56 trillion. The Fear and Greed Index score of 31 reflects the sentiment of fear among investors. Analysts, however, predict that the market winds will most likely turn optimistic soon.
“Global risk appetite is seemingly surging as U.S. equities rallied, led by NVIDIA’s 5.8 percent jump, its largest daily gain since April. The sharp rebound in tech stocks has reignited some optimism across risk assets,” Riya Sehgal, Research Analyst, Delta Exchange told CoinHeadlines.
With the U.S. Senate reopening the government, the Agriculture Committee having unveiled a bipartisan draft giving the CFTC clearer authority over digital commodities, and the new IRS guidance allowing crypto ETFs and trusts to earn staking rewards – these regulatory developments are also fueling market momentum.