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The two largest cryptocurrencies by market capitalization, Bitcoin and Ethereum, have bounced back above $37,000 and $2,000 as the market trend goes bullish again. 
<h2 class="wp-block-heading" id="bitcoin-price">Bitcoin price</h2> 
Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) is up by 1.7% in the past 24 hours and is trading at $37,250 at the time of writing. 
The asset’s market cap currently stands at $728 billion, with a market dominance of 51.4%. Bitcoin’s 24-hour trading volume also registered notable gains, reaching $14.27 billion. 
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 <img decoding="async" loading="lazy" width="3840" height="1300" src="https://crypto.news/app/uploads/2023/11/Bitcoin-BTC-12.53.33-20-Nov-2023.png" alt="Bitcoin and Ethereum bounce back, breaking $37k and $2k - 21" class="wp-image-14217592">
 <figcaption class="wp-element-caption">
 BTC price, whale activity, Binance funding rate and open interest – Nov. 20 | Source: <a href="https://app.santiment.net/charts/_u25xfMM__sCl" target="_blank" rel="noopener">Santiment</a>
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</figure> 
As the hike comes, according to data provided by Santiment, Bitcoin’s total open interest (OI) surged by 4% over the past day, reaching $6.8 billion. Data shows that BTC’s Binance funding rate currently stands at 0.01%, suggesting the dominance of short-position holders. 
 You might also like: <a href="https://crypto.news/openai-sam-altman-exits-cardano-founder-offers-role/"> As Sam Altman exits OpenAI, Cardano’s door is open, Charles Hoskinson says </a> 
On the other hand, Santiment data shows that whale transactions consisting of at least $100,000 worth of BTC recorded a 10.4%, declining from 3,192 on Nov. 19 to 2,860 transactions at the time of writing. 
<h2 class="wp-block-heading" id="ethereum-price">Ethereum price</h2> 
The second-largest crypto, Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>), registered a 2.7% incline over the past day and is trading at $2,020 at the time of writing. The asset’s market cap currently stands at $242 billion, with a 24-hour trading volume of $8.1 billion. 
<figure class="wp-block-image size-full">
 <img decoding="async" loading="lazy" width="3840" height="1300" src="https://crypto.news/app/uploads/2023/11/Ethereum-ETH-12.53.35-20-Nov-2023.png" alt="Bitcoin and Ethereum bounce back, breaking $37k and $2k - 22" class="wp-image-14217593">
 <figcaption class="wp-element-caption">
 ETH price, whale activity, Binance funding rate and open interest – Nov. 20 | Source: <a href="https://app.santiment.net/charts/sH9tLb0i__sCl" target="_blank" rel="noopener">Santiment</a>
 </figcaption>
</figure> 
According to Santiment, Ethereum’s total OI rose from $3.54 billion to $2.62 billion, marking an $80 million surge in the past 24 hours. ETH’s Binance funding rate also stands at 0.01%, suggesting dominant short positions. 
However, the exact amounts of short and long positions remain unclear until further price movements. 
Per Santiment, the number of whale transactions comprising at least $100,000 worth of ETH has constantly declined since Nov. 16. Data shows that 1,184 such transactions were recorded in the past 24 hours. 
The hikes come after Bitcoin took a dive to the $35,000 mark, and Ethereum was back to the $1,900 mark last week. According to a crypto.news report, the crypto market took a U-turn after the <a href="https://crypto.news/crypto-losses-soar-to-173m-in-november-driven-by-poloniex-hack/">$131 million Poloniex hack</a>. 
 Read more: <a href="https://crypto.news/top-cryptos-to-watch-this-week-kas-rndr-ada/"> Top cryptos to watch this week: KAS, RNDR, ADA </a>

Bitcoin and Ethereum bounce back, breaking $37k and $2k

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