The cryptocurrency market has shown a slight recovery following a sharp sell-off during the week of November 18–23. Bitcoin (BTC) and Ethereum (ETH) experienced declines of 13.15% and 14.13%, respectively, contributing to a drop in the total crypto market cap to $2.89 trillion. Stablecoins also saw a decrease of 0.68% during this period.
Despite a brief rebound on November 20, where Bitcoin reached $91,500 spurred by NVIDIA's strong earnings report, macroeconomic pressures continue to affect market sentiment. U.S. Bitcoin and Ethereum spot ETFs recorded net outflows of $12.11 billion and $5 billion, respectively. The Fear & Greed Index remains low at 15, and the RSI is at 34.42, indicating ongoing investor caution amid higher-than-expected U.S. employment data and diminished hopes for a December Fed rate cut.
Crypto Market Sees Modest Rebound After Significant Sell-Off
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