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 <p class="is-style-lead">Bitcoin has sparked a <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>-wide recovery campaign, leading to a 3.8% <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> in the <a rel="noopener noreferrer nofollow" title="global" href="https://thebittimes.com/tag/global.html">global</a> <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> cap and a spike in trade volume amid increased buying power.</p>
 <p>Remarkably, Bitcoin (BTC) recently came back against the bears to recover the losses of the last few days, resulting in a shift in market trends. The global crypto market cap is now back above the $1.4 trillion mark, up 4.44% over the past 24 hours to $1.43 trillion.</p>
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   Crypto market cap | Source: CoinMarketCap
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 <p>In addition, the market is witnessing a resurgence of traders, with global trade volume recently spiking 5.97% to $70.22 billion. BTC has surged 4.06%, while Ethereum (ETH) is up 2.61% within the last 24 hours. This pattern suggests increasing buying pressure.</p>
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 <p>Santiment confirmed this trend in a recent disclosure, calling attention to a spike in activity for Tether (USDT), the dominant stablecoin in the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>. Santiment revealed that USDT’s volume has <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a>d to an 8-month high of $50 billion amid increased whale accumulation.</p>
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    <p lang="en" dir="ltr">#Tether, #<a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>'s top #stablecoin, has spiked in activity while #altcoins have been flying. For the first time since early March, right as $BTC started a +50% rally, we are seeing similar amounts of $USDT in both trading volume &amp; in whale circulation. https://t.co/eTS8KAnsb1 pic.twitter.com/RfspmrcgwQ</p>— Santiment (@santimentfeed) November 16, 2023
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 <p>Interestingly, the whale transactions involving USDT have spiked substantially, as market participants carry out over 40,000 USDT transactions worth $100,000 and above weekly. The last time the market recorded this milestone was in March.</p>
 <h2 class="wp-block-heading" id="prior-crypto-market-slump">Prior crypto market slump</h2>
 <p>This bullish momentum followed a prior market slump. The global crypto market cap plummeted by over 3.5% from $1.4 trillion to $1.35 trillion on Nov. 14, marking a loss of over $50 billion in valuation within a day.&nbsp;</p>
 <p>A decline in Bitcoin’s value triggered this substantial drop, as the firstborn crypto plummeted below the $35,000 territory on Nov. 14. The sudden drop led to significant liquidations amounting to $300 million, as recently reported.</p>
 <p>In a 2.50% dip on Nov. 14, BTC recorded its largest intraday loss in over two months, sustaining a losing spree that began on Nov. 11. The entire market collapsed in response, leading to major declines and a corresponding drop in global market cap.</p>
 <p>This drop, coinciding with the latest CPI report, followed a sustained uptrend that saw Bitcoin and other <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets register new yearly highs. Notably, the CPI report, released on Nov. 14, suggested that inflation in the U.S. cooled to 3.2%, representing the lowest figure this year.</p>
 <p>As a result, market participants trooped into the traditional stock market, with substantial capital flowing from the crypto scene into the stock market. In addition, global crypto trade volume dropped below the $50 billion mark amid investor apathy. The recent resurgence suggests the return of the bulls.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-resurgence-spurs-3-8-rise-in-global-crypto-market-cap-tbt70520.html">https://thebittimes.com/bitcoin-resurgence-spurs-3-8-rise-in-global-crypto-market-cap-tbt70520.html</a></p>

Bitcoin resurgence spurs 3.8% rise in global crypto market cap

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