Bitcoin traded near $96,000 on Wednesday, recovering from this week’s volatility that briefly interrupted its record-breaking run.
The flagship cryptocurrency climbed 3% to $95,766.70, while the broader crypto market tracked by the CoinDesk 20 Index rose 7%, a sign of new investor optimism.
Major Cryptocurrency Activities
- Bitcoin (BTC): Up 3%, reaches $95,766.
- Ethereum (ETH): Up 7%, trading at $3,611.
- Solana (SOL): Up 5%, at $240.
- Stellar (XLM): Jumped 14% to trade at $0.4887.
- EigenLayer (EIGEN): up 13%, price $3.84.
Bitcoin has decoupled from equity markets
While Bitcoin often mirrors stock market trends, it lagged behind the Nasdaq Composite on Wednesday, falling 0.6%.
The Dow Jones Industrial Average and S&P 500 also declined.
Meanwhile, crypto-linked stocks saw gains: Coinbase rose more than 6%, Robinhood advanced 3%, and MicroStrategy climbed 9%, mirroring Bitcoin’s bullish momentum.
Source: coinmarketcap
Ethereum price today
Ethereum (ETH) is trading 7% higher at $3,611, within an intraday range of $3,385 to $3,687.
Its market cap reached $434 billion, supported by a 24-hour trading volume of $44 billion.
Growing institutional interest in Ethereum is driving demand, solidifying its position as the second-largest cryptocurrency by market cap.
Solana benefits from increased optimism
Solana (SOL) rose 5% to $240, with a daily range of $228 to $245.
On-chain activity and derivatives data suggest prices will rise further as traders pay a 23% annual premium for long positions in SOL futures.
However, market overconfidence can lead to volatility during unexpected corrections.
Top gainers and losers
- Top Gainers:
- Near Protocol (NEAR): Up 20%, trading at $6.68.
- Stellar (XLM): gained nearly 14% to $0.4887.
- EigenLayer (EIGEN): rose 13% to $3.84.
- Top Losers:
- Mantra (OM): Trading at $3.46, down 5%.
- Algorand (ALGO): fell 2% to $0.2864.
Meme Coins and XRP Update
XRP rose 8% to $1.47, giving it a market capitalization of $84 billion.
Institutional interest continues to grow, highlighted by WisdomTree’s recent filing for an XRP ETF.
Meanwhile, meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) rose 5% each, trading at $0.4095 and $0.00002573, respectively.
The cryptocurrency market remains largely in the green, driven by cautious optimism as investors keep an eye on ETF developments, corporate interest and macroeconomic trends shaping the sector’s trajectory.
Post Crypto Market Snapshot November 28: Bitcoin hovering around $96K; XLM, EIGEN up 13% first appeared on Invez
