The crypto market cap graph saw a sudden spike on November 9, with multiple tokens witnessing a broad rally as Bitcoin’s bull run steered it.
Crypto market stakeholders were in for a massively optimistic outlook as Bitcoin’s bull run continued further. BTC nearly touched $38,000 after going above $37,000 with a sudden surge in movements. Bullish sentiments were drifting in the crypto market as multiple tokens also saw an increase in prices. The crypto market cap graph was all green, with the highest push from BTC.
Meanwhile, Bitcoin saw some profit booking at higher levels and, hence, is trading below $37,000 currently. The momentum in its movements is still strong, though, and it could move higher over the weekend. On the other hand, ETH also saw a monthly high, going above $2100, with over 9% returns in the last 24 hours.
Bitcoin’s bull run could have been heavily influenced by the crypto ETFs waiting for approval in the US. The spot Bitcoin ETF applications, filed by several reputed investment firms, are touted to benefit the crypto market.
After gaining around 30% in October, BTC is already up by 6% in November. If traders and investors continue their support, it could march ahead towards $40,000 soon.
BTC/USD 1D price chart
Bitcoin is currently trading at around $36,700 on November 10, 2023, with BTC/USD trading higher by a margin of 0.5% in the last 24 hours. Its returns were higher, but it has cooled down subsequently. BTC/USD is trading higher than its 20-day EMA (33,223.50), as BTC’s 24-hour volume was at around $33 billion. The crypto market cap increased by over 2.96%.
The optimism around the crypto market is a testament to its high potential! A beginner-friendly crypto exchange like Millionero will help you start crypto trading smoothly, with its many features as an added bonus!