Cryptocurrency market today, November 24: What is Bitcoin hiding before the G hour at the end of November?

(NLDO)- Analysts predict that if Bitcoin can stay above $92,000 this week, the possibility of a recovery to the $105,000 - $110,000 range will be clearer.

On the evening of November 24, the cryptocurrency market had mixed developments. Data from the OKX exchange showed that in the past 24 hours, Bitcoin fell more than 0.5% to around $86,300.

Many other major cryptocurrencies also turned down. Ethereum fell nearly 1% to $2,819; BNB and Solana lost more than 1% to $840 and $129, respectively. On the other hand, XRP increased nearly 2% to $2.

According to Cointelegraph , after falling to the $80,500 region last week, Bitcoin price is still in a tug-of-war state, not forming a clear trend as the November closing date is approaching.

The $88,000 area is acting as a strong resistance, causing the price to be blocked several times. In the market, investor views continue to be divided.

Bitcoin is trading in the $86,300 region Source: OKX

Some believe this is just a short recovery in a downtrend, while others expect Bitcoin to have formed a short-term bottom.

If the price can hold above $92,000 this week, the possibility of a recovery to the $105,000 - $110,000 zone will be clearer. On the contrary, failure to break out could open a new downtrend.

On-chain data shows that long-time holders are selling, while new investors are increasing their buying at high prices.

Over the past 30 days, about 63,000 Bitcoins have been transferred from long-term holdings to short-term holdings. Although it shows that bottom-fishing money is starting to appear, the risk level remains high as the selling pressure has not stopped.

Psychologically, the market remains cautious. The sentiment index improved slightly but remained in the "high fear" zone.

On social media, pessimism and a wave of selling by retail investors are at their strongest in nearly two years.

This week, a series of economic data from the US is expected to continue to create volatility for the market. In the absence of clear leading information, the trend of Bitcoin will likely still depend mainly on psychology and short-term cash flow.

The market is in a sensitive zone, with a bounce or a deeper decline both possible.

Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-24-11-bitcoin-dang-giau-dieu-gi-truoc-gio-g-cuoi-thang-11-196251124210544478.htm