On the evening of November 28, the cryptocurrency market increased slightly. Data from the OKX exchange showed that in the past 24 hours, the price of Bitcoin increased by more than 1.5%, reaching the area of 92,300 USD.
Other cryptocurrencies also recorded positive price increases, with Ethereum rising nearly 3% to $3,070, XRP rising nearly 2% to $2.2, BNB rising more than 1% to $897, and Solana rising nearly 1% to $142.
According to Cointelegraph , Bitcoin price is fluctuating in a narrow range after recovering from lows of $80,000.
Asset management firm Swissblock said that Bitcoin's fall below the year-earlier mark of $93,300 is a sign that the trend has weakened.
The recovery depends on holding the 83,000 - 85,000 USD price zone, where strong buying power is expected to appear. The trend will only really turn positive again if Bitcoin breaks above the 94,000 - 95,000 USD threshold.
Bitcoin is trading in the $92,300 region Source: OKX
Data from Glassnode shows that the $93,000-$96,000 zone is a major hurdle, as many investors have bought in this area. Higher, the $100,000-$108,000 mark is seen as the next hurdle, where selling pressure may continue to increase.
If these zones are broken, Bitcoin price will have a chance to move towards a new peak. Some opinions in the market believe that the $97,000 - $98,000 zone is the threshold to confirm the recovery momentum, with the next target being $100,000.
However, the market is still "cooling down" as the number of transactions and the value of Bitcoin transferred through the network are both decreasing.
Over the past seven days, the average trading value has dropped by about 20% to $87 billion, while daily trading volume has only reached about $12.8 billion.
Notably, the recent surge above $91,000 was not accompanied by a surge in trading, suggesting investor sentiment remains cautious.
If trading activity picks up again and buyers gain the upper hand, Bitcoin prices could enter a new rally, similar to the mid-year period when prices rose more than 30% and set record highs.
Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-28-11-mot-quyet-dinh-kho-khan-dang-cho-bitcoin-19625112821173938.htm
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