The crypto market neither showed signs of recoveries nor slippage to stay rather muted in the last 24 hours. Bitcoin on Wednesday, November 26 reflected a loss of 0.71 percent. At the time of writing, Bitcoin was trading at $87,470 on international exchanges. From its previous day’s price point of $87,530, BTC price has only clocked a minor change in the last 24 hours.
Speaking to CoinHeadlines, market analysts said that for now, the market awaits fresh CPI data and the next FOMC decision, before it shows a major momentum change.
“Until macro clarity emerges, BTC is likely to remain volatile, reacting sharply to shifts in inflation expectations, yield movements, and institutional flows,” said Sathvik Vishwanath, co-founder and CEO, Unocoin. “Softer inflation could lift rate-cut expectations, boosting liquidity and driving BTC toward resistance at $109,000–$111,000. A hotter CPI print risks renewed Fed hawkishness, tightening financial conditions and dragging Bitcoin toward support within $96000–$102,000.”
Ether reflected a small gain of 0.28 percent to trade at $2,947. The asset, much like BTC, did not register a notable revision in its previous day’s price of $2,866.
“Ethereum recently bounced off a long-term ascending trendline that has acted as major support for several months. This signals that buyers are still defending the broader bullish structure. A convincing daily close above$3,000-$3,050 could open a path toward $3,200-$3,300,” said Piyush Walke, Derivatives Research Analyst, Delta Exchange.
Solana, USDC, Tron, Chainlink, Leo, Monero, Litecoin, Avalanche, Shiba Inu, and World Liberty Financial emerged among tokens that registered miniscule price hikes on Wednesday.
Losses, meanwhile, hit XRP alongside BNB, Dogecoin, Cardano, Bitcoin Cash, Zcash, Stellar, Hedera, and Uniswap among others. All of the top ten cryptocurrencies by market cap are showing fluctuations on the price chart.
The overall crypto market cap dropped by 0.38 percent in the last 24 hours. The present valuation of the market stands at $3.01 trillion, showed CoinMarketCap. The Fear and Greed Index score has remained rooted to 15 for 72 hours – indicating at the sentiment of extreme fear among investors.
Analysts say that for now, the focus remains on the macroeconomic data like the U.S. jobless claims, PCE, and GDP figures.
“While factors like declining consumer confidence in the US and labour market weakness among private companies have created a risk-off sentiment, they also raise the likelihood of the Fed adopting a less restrictive monetary stance,” Mudrex CEO Edul Patel told CoinHeadlines.
According to CoinGlass, 97,781 traders were liquidated in the last 24 hours clocking the total liquidations at $299.42 million.