Ethereum

Parabolic

Dogecoin

<h2 id="span-data-font-font-size-style-font-size-20px-btc-stabilizes-at-36-500-post-340m-leveraged-liquidations-in-2-days-br-span">BTC stabilizes at $36,500 post $340M leveraged liquidations in 2 days </h2>
While the broader cryptocurrency market experienced a 2.2 percent decline amid the current correction phase, an unexpected surpassing of US inflation data expectations has fostered a positive investor sentiment towards risk-on assets. This change has eased selling pressure within the crypto market. Furthermore, the Securities and Exchange Commission (SEC) has deferred its decision on Hashdex's spot Bitcoin exchange-traded funds (ETFs) application.
In the last 24 hours, the cryptocurrency market saw a $69.28 billion trading volume, up by 8.00%. DeFi contributed $8.06 billion, making up 11.64% of the total. Stable coins dominated with a $61.73 billion volume, representing 89.10% of overall market activity. Bitcoin's dominance increased to 51.04%, up by 0.31% in the day.
<h3 id="span-span-data-font-font-size-style-font-size-18px-major-events-to-watch-span-span">Major Events To Watch:</h3>
<img src="https://lh7-us.googleusercontent.com/pUdOU3pMwIfMhG04eaxM5-pCNiR0fLXAam_dXC5T2vibgEDxPyqbn6T0GNDcpf6083kzd0DgckDDnAoS8_XH7y-jzLhtcdDs3TVsAvjnc8HFSXT1_P97aJs-qGf0Tk0DlK20k4yF9M-Ew4bm-Ajtfz8" width="517" height="394">
<h4>Crypto Fear and Greed:</h4>
<img src="https://lh7-us.googleusercontent.com/1pCz0Y8OiYSoujq_Vhq-NU7OKNvwofOQ2z5LX_93PkNC6vGmMQHqbpjzJBJcVMfGd-nvrxyzye2q-gR5EOrI4bDPlD9AcknvJLIR-rxUYTHU9f8HjDUBYM3LqU4VP2kjYzYXy3rEzFjjJ7o7UluRd4g" width="557" height="247">
Profit booking in the cryptocurrency market prompts a 7-point decline in the "Greed and Fear Index," settling it at 63 out of 100.
<h4>Latest Market Update:&nbsp;</h4>
Bitcoin (BTC) fell below $37,000 on Friday, ending its streak, with other major altcoins like Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Litecoin (LTC), and Ripple (XRP) also in the red. The previously high-performing ETHDYDX token faced a significant 9% dip, while Kaspa (KAS) emerged as the top gainer, surging over 17% in 24 hours.
<h4>Major Worldwide News Update:</h4>
<ul>
 <li>US weekly jobless claims hit a three-month high, signaling a gradual labor market cooling, aligning with the Federal Reserve's anti-inflation efforts. Unemployment rolls rose to levels from two years ago, reflecting slowed demand amid higher interest rates. Despite concerns about seasonal adjustments, economists anticipate continued progress in lowering inflation and rebalancing the labor market.</li>
 <li>BlackRock, the world's largest asset manager, filed with the SEC for its iShares Ethereum Trust, an ether spot ETF. Following Nasdaq's similar filing, ether briefly rose 2% to $2,080 but settled. <a href="https://www.coingabbar.com/en/price-analysis/ethereum-price-analysis-cmp-dollarwhats-brewing-crypto-giant" class="f-link" rel="noopener noreferrer nofollow">Crypto</a> prices react to ETF news; BlackRock is also awaiting SEC decision on a spot bitcoin ETF. CEO Larry Fink shows newfound support for crypto.</li>
 <li>Tether Holdings plans a $500 million investment in a 3-year Bitcoin mining venture, aiming to be a top player. CEO Paolo Ardoino highlights the funds will go into mining site construction and stake purchases. The move signifies Tether's shift beyond stablecoin USDT, aiming for 120MW mining capacity by year-end and 450MW by 2025.</li>
 <li>The U.S. DOJ arrests Zhong Shi Gao, Naifeng Xu, and Fei Jiang for orchestrating a sophisticated bank fraud scheme, stealing over $10 million from banks. The trio exploited accomplices to open accounts, executed false fund transfers, withdrew doubled amounts in crypto, emphasizing the DOJ's commitment to combatting financial crimes and cryptocurrency misuse.</li>
 <li>Dogecoin holders anticipate a potential surge as the Parabolic SAR, a key technical indicator, reappears, reminiscent of previous rallies. In 2020, DOGE's 1M Parabolic SAR signaled a trend reversal, leading to a remarkable 23,000% rally. Historical data, including a 2017 6,200% surge, suggests a potential 14,600% surge, reigniting speculation about Dogecoin's trajectory.</li>
 <li><a href="https://www.coingabbar.com/en/price-analysis/bitcoin-technical-analysis-cmp-dollar-bull-trap-or-opportunity" class="f-link" rel="noopener noreferrer nofollow">Bitcoin's</a> open interest has surged to a 19-month high, reaching $17.04 billion, indicating a bullish market sentiment. The last time such levels were seen was in March 2022, preceding a historic Terra LUNA crash. Historical data suggests that if the trend continues, BTC may rally from $37,500 to around $45,000, but a decline in open interest could lead to a potential crash back to $27,000, echoing events in April 2022.</li>
 <li>Ripple Labs plans to integrate Automated Market Makers (AMMs) into the <a href="https://www.coingabbar.com/en/price-analysis/xrp-technical-analysis-cmp-dollar-will-bulls-roar-back-to-power" class="f-link" rel="noopener noreferrer nofollow">XRP</a> Ledger, aiming to boost liquidity and trading efficiency. While met with skepticism from the XRP community, Ripple emphasizes the long-term benefits. Concerns about potential impacts on XRP's price and stability have surfaced, but advocates argue AMMs could enhance efficiency and adoption without altering XRP's fundamental characteristics.</li>
 <li>Fifty-eight U.S. lawmakers have queried President Biden and Treasury Secretary Yellen about Hamas' crypto operations, seeking clarity on its financing and the success of U.S. efforts in seizing illicit digital assets. Despite reports of millions raised, lawmakers stress uncertainty about the accessibility of identified digital assets by Hamas, requesting responses by Nov. 29. Some congressmen advocate using blockchain technology to assess Hamas' crypto footprint for transparency in tracking illicit activities.</li>
 <li>The Texas State Securities Board accuses companies under the "GS" brand, led by Josip Dortmund Heit, of fraudulent activities tied to digital assets and a metaverse. Allegedly using a multilevel marketing scheme, GS Partners promoted metaverse property sales, including XLT Vouchers, resulting in an emergency enforcement action to cease unregistered security offerings in Texas. Similar warnings were issued by Canadian securities regulators.</li>
</ul>
COIN GABBAR Views: Will panic selling emerge in the coming days as BTC struggles to breach the $38,000 level and the upper boundary of the channel? The lingering question remains: Is $40,000 attainable, or will there be a retreat to $35,000? To get latest news Stay tuned us at <a href="https://www.coingabbar.com" class="f-link" rel="noopener noreferrer nofollow">www.coingabbar.com</a>
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
For More News: <a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-daily-roundup-nov-wood-predicts-dollart-crypto-market-by" class="f-link" rel="noopener noreferrer nofollow">Crypto Daily Roundup,16 Nov: Wood predicts $25T crypto market by 2030?</a>

24 Crypto Update, 16 Nov: Crypto Market Erases Previous Day's Upsurge

Table of Contents

Coingabbar

Other articles published on Nov 17, 2023

South Korean crypto trading volumes soar with altcoins taking center stage

20 drivers emerge finalists at Bolt Den €25,000 accelerator program

Ethereum ETF Race: BlackRock Wants An Ether Spot ETF

Meta Launches Emu Video and Emu Edit AI Models For Video and Images

GMX Price Prediction 2023-2028: Can Bulls Dominate Above $50?

As the Market Takes a Breather, New GameFi Contender Galaxy Fox Pumps in Presale Mode

Join our free newsletter for daily crypto updates!