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Bitcoin

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<p class="is-style-lead">Bitcoin retraces to $93K after nearing $100K resistance, while Pepe Unchained’s ICO surpasses $54M amid strong investor backing.</p> 
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   <li><a href="#btc-crashes-amidst-profit-taking-and-leverage-flush">BTC crashes amidst profit-taking and leverage flush&nbsp;</a></li>
   <li><a href="#analyst-lays-out-btc-bull-case">Analyst lays out BTC bull case</a></li>
   <li><a href="#pepe-unchained-to-list-on-tier-1-exchanges-in-16-days">Pepe Unchained to list on tier-1 exchanges in 16 days</a></li>
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<p><a href="https://crypto.news/price/bitcoin/" target="_blank">Bitcoin</a> is retracing after finding strong resistance just below $100K. It’s now trading around $93,000.</p> 
<p>However, despite BTC’s dip, some altcoins are continuing to show strong growth.&nbsp;</p> 
<p>One such coin is Pepe Unchained, which has now raised over $54 million in its ICO as investors continue to back the new meme coin.</p> 
<h2 class="wp-block-heading" id="btc-crashes-amidst-profit-taking-and-leverage-flush"><strong>BTC crashes amidst profit-taking and leverage flush&nbsp;</strong></h2> 
<p>Bitcoin came within just a few hundred dollars of hitting $100K this week but is now falling.</p> 
<p>Its recent rally followed Trump’s win in the US presidential election, but analysts suspect long-term holders used this momentum to take profits – especially since the $100K mark was expected to provide strong resistance.</p> 
<p>Andre Dragosch, head of research for asset management firm Bitwise, <a href="https://www.cnbc.com/2024/11/25/bitcoin-btc-march-to-100000-stalls-heres-whats-going-on.html" target="_blank">said</a>:</p> 
<p>“Long-term holders have started to distribute significant amounts of bitcoins into the recent rally.”&nbsp;</p> 
<p>However, he underlined that “this could be a bull market correction rather than a change in trend,” and that “bitcoin valuations are still far away from being excessive.”</p> 
<p>But it’s not just spot positions that cause the Bitcoin price to decline.</p> 
<p>Market intelligence platform IntoTheBlock tweeted that Bitcoin’s funding rates were too high, which may have contributed to the retracement.&nbsp;</p> 
<p>However, the post also noted that funding rates have returned to base level, potentially allowing the Bitcoin rally to resume.</p> 
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   <p lang="en" dir="ltr">Bitcoin's retrace can be attributed in part to elevated funding rates, signaling excessively leveraged positions.<br><br>The good news? Funding rates have largely normalized, suggesting the leverage flush may have run its course. <a rel="" href="https://t.co/A2kJEk50uT" target="_blank">pic.twitter.com/A2kJEk50uT</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1861395869729227162?ref_src=twsrc%5Etfw" target="_blank">November 26, 2024</a>
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<p>This follows a mass <a href="https://x.com/RadarHits/status/1860709562136826111" target="_blank">liquidation event</a> on Sunday, during which $560 million in leveraged positions were wiped off the market in four hours.</p> 
<h2 class="wp-block-heading" id="analyst-lays-out-btc-bull-case"><strong>Analyst lays out BTC bull case</strong></h2> 
<p>After hitting a low of $90.7K on Wednesday, Bitcoin has begun to climb again – it is currently trading at $93.3K.</p> 
<p>It remains 6.65% from its Saturday all-time high (ATH), but analysts suggest the bottom is in.</p> 
<p>Miles Deutscher provided several arguments for Bitcoin’s upward ascent, including the fact that December is a historically bullish month for crypto, and Trump’s win provides a tailwind for significant growth in the market.</p> 
<p>Alongside other things, he also noted that Trump’s inauguration day is 20 January, and it’s probable that the Bitcoin price will rally in the lead-up.</p> 
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   <p lang="en" dir="ltr">I have to respectfully disagree here. <br><br>I highly doubt we're going back into the 70ks anytime soon.<br><br>The macro setup negates the likelihood of a big dip here.<br><br>• December is historically <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank">$BTC</a>'s best month in election years<br>• For the S&amp;P, no month is more likely to be higher… <a rel="" href="https://t.co/wPoqQ6CS1m" target="_blank">https://t.co/wPoqQ6CS1m</a></p>— Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1861653579087651043?ref_src=twsrc%5Etfw" target="_blank">November 27, 2024</a>
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<p>Meanwhile, Microstrategy CEO and Bitcoin proponent Michael Saylor alluded that Bitcoin’s current position is similar that of November 2020.</p> 
<p>He noted that Bitcoin rejected $20K back then, only to surge beyond it two weeks later. He said that $20K was a “psychological barrier,” which is exactly what $100K is today.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank">#Bitcoin</a> hit $19,850 in late November 2020 but stopped short of the psychological $20,000 barrier.<br><br>Two weeks later, it broke out into the most significant upward move of the cycle.</p>— Michael Saylor – Founder of Microstrategy (Parody) (@notrealsaylor) <a href="https://twitter.com/notrealsaylor/status/1861339587810914635?ref_src=twsrc%5Etfw" target="_blank">November 26, 2024</a>
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<p>Bitcoin’s retracement from $99K is not only expected but also healthy. With the leverage flush, the next upward ascent can now last longer without the impending fear of a mass liquidation event at any moment.</p> 
<p>This weeks Bitcoin selloff has triggered market-wide derisking, but presale crypto Pepe Unchained has continued to attract investment.</p> 
<p>As Bitcoin and the broader market recovers, this puts PEPU in an advantageous position for growth.</p> 
<p> You might also like: <a rel="" href="https://crypto.news/pepe-unchained-hits-landmark-30m-raised-milestone-presale-ends-in-just-28-days/"> Pepe Unchained hits landmark $30M milestone – presale ends in just 28 days </a> </p> 
<h2 class="wp-block-heading" id="pepe-unchained-to-list-on-tier-1-exchanges-in-16-days"><strong>Pepe Unchained to list on tier-1 exchanges in 16 days</strong></h2> 
<p><a href="https://crypto-news.care/b_pepeunchained-en_97815?referrer=bitcoin-price-dips-but-this-new-crypto-ico-is-raising-millions" target="_blank">Pepe Unchained</a> is the first Pepe-themed <a href="https://crypto.news/price/ethereum/" target="_blank">Ethereum</a> layer 2 blockchain. It aims to be a home for meme coins inside the Ethereum ecosystem, and investors can buy it at a ground-floor presale price right now.</p> 
<p>The presale has raised a staggering $54 million in funding, showing huge demand among traders. Over $2 million of that has come in the past 24 hours, a period when Bitcoin lost $400 million from its market cap.</p> 
<p><a href="https://crypto.news/meme-coin-prices-dip-traders-move-to-40m-pepe-unchained-ico-for-massive-potential-gains/" target="_blank">Pepe Unchained</a> is expected to be cheaper and 100x faster than the Ethereum main network. It will also include features like a two-click meme coin generator, staking, a block explorer, a decentralized exchange, and a dedicated Ethereum bridge.</p> 
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<p>The meme coin generator is called Pepe Pump Pad and will allow anyone to launch a meme coin in minutes without coding. Considering it will have access to Ethereuem’s vast liquidity infrastructure, this creates a perfect environment for teams to launch new projects.</p> 
<p>Analysts are going wild over this. In a recent video, ClayBro said that it could be the “top meme coin of 2025.”</p> 
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 <div class="wp-block-embed__wrapper"> <iframe title="Over $53 Million Raised Means Pepe Unchained Could Become The Top Meme Coin Of 2025!" width="1020" height="574" src="https://www.youtube.com/embed/nQdid0LCVno?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> 
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<p>It has a unique advantage in that it’s more than just a meme coin – it’s an entire ecosystem. And that’s precisely what presale investors are betting on.</p> 
<p>The PEPU token will list on tier-1 exchanges in 16 days, so would-be buyers should act quickly.</p> 
<p>For more information, <a href="https://crypto-news.care/b_pepeunchained-en_97815?referrer=bitcoin-price-dips-but-this-new-crypto-ico-is-raising-millions" target="_blank">visit the Pepe Unchained presale website</a>.</p> 
<p> Read more: <a rel="" href="https://crypto.news/meme-coin-prices-dip-traders-move-to-40m-pepe-unchained-ico-for-massive-potential-gains/"> Meme coin prices dip; traders move to $40M Pepe Unchained ICO for massive potential gains </a> </p> 
<p> Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company. </p>

Bitcoin price dips but this new crypto ICO is raising millions

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