Bitcoin, Ethereum, Dogecoin Climb, But Ripple Rockets: Analyst Calls It 'An Insane Period'

Cryptocurrency markets are closing Friday strong, with Bitcoin’s performance paving the way for altcoin gains.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$97,590	+2.8%
Ethereum ETH/USD	$3,600	+1.0%
Solana SOL/USD	$242.66	+2.8%
Dogecoin DOGE/USD	$0.4355	+9.6%
Shiba Inu SHIB/USD	$0.00002621	+4.0%

Notable Statistics:

• IntoTheBlock data shows large transaction volume decreasing by 22.6% and daily active addresses falling by 8%. Exchanges netflows are up by 188%.
• Coinglass data reports 86,529 traders were liquidated in the past 24 hours for $242 million, with $150 million being liquidated short positions.

Notable Developments:

• Dogecoin Price Up 6.5%: What Is Going On?
• XRP Price Soars 20% In 24 Hours: Why Is XRP Up?
• Dogecoin ETF Coming In 2025? ‘I Think Someone’s Going To Try,’ Says ETF Analyst
• Vladimir Putin Signs Bitcoin Mining, Crypto Taxation Law
• Peter Schiff: Bitcoin Reserve Is The ‘Worst Monetary Mistake’ US Could Make

Top Gainers:

Cryptocurrency	Price	Gains +/-
Algorand ALGO/USD	$0.4318	+42.3%
Hedera HBAR/USD	$0.17	+18.9%
XRP XRP/USD	$1.74	+17.7%

Trader Notes: Daniel Cheung, co-founder of Syncracy Capital, speculates that altcoins will “rip 50% in a day” once Bitcoin breaks $100,000.

Trader Bluntz highlights a bullish chart pattern for Dogecoin playing out, saying, “things are about to get fun again.”

Popular crypto analyst Michaёl van de Poppe sees this as the “institutional and governmental cycle,” flagging discussions around Bitcoin as a strategic reserve in the U.S. and Brazil, while Russia recognizes Bitcoin as property.

“It’s actually an insane period,” the analyst concludes.

It's actually an insane period.

– Trump looking to add $BTC as strategic reserve.

– A bill proposing the same in Brazil.

– Russia recognising #Bitcoin & #Crypto as property.

It's the institutional & governmental cycle.

This goes way higher than we all wish for.

— Michaël van de Poppe (@CryptoMichNL) November 29, 2024

Read Next: 

• Remember James Howells Who Lost His Hard Drive With 8,000 Bitcoins Now Worth $760M? His Ex-Girlfriend Reveals It Was She Who Threw It Away (CORRECTED)

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