On the evening of November 29, the cryptocurrency market recorded mixed developments. Data from the OKX exchange showed that in the past 24 hours, Bitcoin decreased by nearly 1%, down to about $90,780.
Many other major cryptocurrencies also fell, such as Ethereum and BNB, down more than 1%, falling to the $3,000 and $878 levels, respectively; Solana fell nearly 3% to $137. In contrast, XRP increased slightly by nearly 1% to $2.2.
According to CoinDesk , Bitwise expert André Dragosch said that Bitcoin price currently shows pessimism about world economic growth, at the lowest level since 2022 and the 2020 pandemic period.
Bitcoin is trading in the $90,780 region. Source: OKX
He said the Bitcoin price signal is much more negative than economic surveys, showing a clear divergence. This pattern is similar to unusual times such as March 2020 and November 2022, after which Bitcoin rebounded strongly.
Dragosch commented that Bitcoin is reflecting a weak growth scenario, but opens up a great recovery opportunity.
According to him, investors are currently "not optimistic enough", and the possibility of a rebound could be as strong as the 6-fold bounce after the COVID-19 shock. Since the beginning of the year, Bitcoin has fallen more than 3% and is 28% lower than the peak set on October 6.
Market sentiment remains weak. The “Fear and Greed” index remained at 20, indicating cautious sentiment, unchanged from the previous day.
In addition, investors predict a high possibility that the US Federal Reserve will cut interest rates by another 0.25 percentage points at its December meeting, bringing interest rates to around 3.5% - 3.75%.
Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-29-11-tin-hieu-bat-thuong-tu-bitcoin-196251129192443252.htm
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