Bitcoin

The post<a href="https://cryptosnewss.com/analyst-predicts-dogecoin-could-reach-new-all-time-high/" rel="noopener noreferrer nofollow"> </a><a href="https://cryptosnewss.com/bitcoin-hits-97000-despite-falling-market-share/" rel="noopener noreferrer nofollow">Bitcoin Hits $97,000 Despite Falling Market Share</a> appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.After a consistent dip last week, Bitcoin(BTC) shows signs of recovery at $97,585, even as <a href="https://cryptosnewss.com/category/bitcoin-news/" rel="noopener noreferrer nofollow">BTC</a> market share fell to 56.75%. Notably, in the early hours, Bitcoin briefly broke through the $98,000 mark.<h2 id="header-0">Bitcoin Market Trends</h2>At the time of writing, Bitcoin’s 24-hour trading volume has surged by 16.12%, reaching $37.92 billion. Meanwhile, its market cap has increased by 1.39%, reaching a staggering $1.93 trillion. As the seventh most valuable asset globally, <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> might surpass Alphabet (Google), which holds a market cap of $2.08 trillion, if this surge continues.Technical indicators show mixed but optimistic signals. The Relative Strength Index (RSI 14) stands at 67, indicating a ‘Neutral’ trend. Meanwhile, the Simple Moving Average (SMA 10) is at $96,126, signaling a ‘Buy’ action. These indicators suggest there is still room for further growth, although Bitcoin hasn’t reached levels considered excessively high, leaving the possibility of either continued upward movement or a cooling-off period.Read also: <a href="https://cryptosnewss.com/bitcoin-at-500k-charles-hoskinson-highlights-defi-and-global-appeal/" rel="noopener noreferrer nofollow">Bitcoin at $500K? Charles Hoskinson Highlights DeFi and Global Appeal</a>Moreover, traditional investors are also returning to Bitcoin ETFs. As of November 29, U.S. spot <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> saw an outflow of $320.01 million, balanced by inflows of $137.49 million from BlackRock’s IBIT ETF.<h2 id="header-1">Bitcoin Market Share Falls</h2>According to TradingView data, Bitcoin’s market share (BTC.D) fell to 56.75%, down 8.15% from its recent peak of 61.78% on November 21.Additionally, since November 5, the total market value of altcoins (TOTAL2) has shown a strong upward trend. After hitting a low of $856.1 billion on November 5, the altcoin market has risen by about 70%, now valued at $1.46 trillion. This indicates that altcoins are gaining significant momentum as investors diversify their portfolios. The spillover effect from Bitcoin’s surge appears to have contributed to the increasing market share of altcoins.The post <a href="https://cryptosnewss.com/bitcoin-hits-97000-despite-falling-market-share/" rel="noopener noreferrer nofollow">Bitcoin Hits $97,000 Despite Falling Market Share</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.

Bitcoin Hits $97,000 Despite Falling Market Share

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