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Price analysis 11/20: BTC, ETH, SOL, BNB, XRP, DOGE, ADA, SHIB, TON, AVAX

Coin Telegraph
Price analysis 11/20: BTC, ETH, SOL, BNB, XRP, DOGE, ADA, SHIB, TON, AVAX
Avalanche

Bitcoin continues its march toward $100,000, and several altcoins could be poised to hit new all-time highs.

Bitcoin (BTC) bulls have kept up the pressure, and the price is trying to climb above $95,000. Options contracts on BlackRock’s spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust ETF (IBIT), launched on Nov. 19, were an instant hit. 

Bloomberg ETF analyst James Seyffart said in a post on X that IBIT options recorded roughly $1.9 billion in notional exposure, and that could be the reason for Bitcoin’s new all-time high on Nov. 19.

Bitcoin’s price is nearing $100,000, but MicroStrategy, the largest corporate holder of Bitcoin, is not showing any signs of slowing down its purchases. The business intelligence firm revealed plans to raise $2.6 billion from senior convertible notes to buy more Bitcoin and for general corporate purposes.

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Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

$100K Bitcoin next? No euphoria ‘encouraging’ as BTC price breaks new highs

Coin Telegraph
0K Bitcoin next? No euphoria ‘encouraging’ as BTC price breaks new highs
Bitcoin

Bitcoin analysts and traders are optimistic that BTC’s price will hit the coveted $100,000 mark despite a “lukewarm” social media response to the latest ATHs.

Bitcoin (BTC) continues its march toward the coveted $100,000 mark after setting another all-time high above $94,000 on Nov. 19.

Even though this move to new record highs did not spark “euphoria,” analysts say it is necessary for pushing BTC’s price higher.

BTC/USD daily chart. Source: TradingView 

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Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

Ethereum DApp volumes gain 38% in a month — Will ETH price follow?

Coin Telegraph
Ethereum DApp volumes gain 38% in a month — Will ETH price follow?
bnb

Everything but ETH seems to be rallying, even though Ethereum’s DApp volumes are surging. What gives?

Ether (ETH) price has struggled to maintain levels above $3,200 between Sept. 13 and Sept. 19. However, onchain metrics have improved, particularly when compared to some of Ethereum’s direct competitors. Traders are now questioning how long it will take for Ether to resume its bull run, given its dominance in fees and network deposits.

Blockchains ranked by 30-day DApps volumes, USD. Source: DappRadar

No blockchain comes close to Ethereum's $149.9 billion in onchain volumes over the past 30 days. The second-largest competitor, BNB Chain (BNB), reached only $26.6 billion, 82% smaller despite offering much lower transaction fees. More importantly, Ethereum’s activity grew by 37.7% over the past month, while BNB Chain saw a 6% decline in volume.

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Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

Bitcoin to $100K: What will milestone mean for derivatives markets?

Coin Telegraph
Bitcoin to 0K: What will milestone mean for derivatives markets?
Adoption

Bitcoin analysts and traders have long dreamed of a $100,000 BTC price, but what would the achievement mean for derivatives markets? 

Bitcoin’s (BTC) potential climb to the $100,000 price level has captivated investors for years. While retail participants often celebrate such psychological milestones, the key impact should come from institutional adoption and advancements in the Bitcoin derivatives markets. 

Bitcoin futures aggregate open interest, BTC. Source: CoinGlass

Futures open interest on Bitcoin presently totals 626,520 BTC ($58 billion), a 15% increase in two months, signaling growing interest in derivatives. If Bitcoin reaches $100,000, this open interest would hit $62.5 billion, representing 3.1% of its $2 trillion market cap. This contrasts with the S&P 500, where $817 billion in futures open interest equals only 1.9% of its $43 trillion market cap.

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Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

Bitcoin price metrics point to more upside despite $92K acting as resistance 

Coin Telegraph
Bitcoin price metrics point to more upside despite K acting as resistance 
Arbitrage

Data hints that new all-time highs are on the way, even if Bitcoin struggles to gain above $92,000. 

Bitcoin (BTC) has been trading within a narrow 7% range since Nov. 12, signaling a period of consolidation around $91,000. Still, derivatives indicate that professional traders remain confident in the bull market. Additionally, multiple attempts to break above the $92,000 level suggest strong buying demand beyond the multiple MicroStrategy BTC acquisitions.

Bitcoin 30-day options 25% skew (put-call) at Deribit. Source: Laevitas.ch

The BTC options delta skew has dropped to its lowest level in four months, indicating the market is pricing a discount for put (sell) options. Levels below -6% suggest bullish sentiment and reflect confidence in the $87,000 support level, particularly from whales and arbitrage desks.

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Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

SOL, AVAX, SUI and NEAR advance as Bitcoin price trades in the $90K zone

Coin Telegraph
SOL, AVAX, SUI and NEAR advance as Bitcoin price trades in the K zone
Avalanche

Bitcoin maintaining above $85,000 improves the price prospects for SOL, AVAX, SUI, and NEAR.

Bitcoin (BTC) continued its up move, rallying more than 12.5% this week. It is not that the bears gave up easily. They tried to start a pullback on Nov. 14, but the bulls held their ground. The price has been trading in a tight range near the all-time high, improving the prospects of an upside breakout.

CryptoQuant contributor Darkfost said in a market update that Bitcoin whales have not stopped buying even with the price around $90,000, and “most are holding, which is a sign of confidence in the market.”

Crypto market data daily view. Source: Coin360

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Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

XRP outperforms crypto market with a 17% pump — What’s driving the rally?

Coin Telegraph
XRP outperforms crypto market with a 17% pump — What’s driving the rally?
2024 US elections

XRP price staged a double-digit rally as traders opened new positions in expectation of a crypto-friendly Trump administration.

XRP jumped 17% over the last 24 hours, outperforming the rest of the crypto market as the rally cooled off. 

Data from Cointelegraph Markets Pro and TradingView shows XRP rose from a low of $0.6833 on Nov. 14, climbing as much as 24% to a sixteen-month high of $0.8479. 

In comparison, the total crypto market capitalization was down, posting 2.8% daily losses to $2.91 at the time of publication. Bitcoin (BTC) had dropped 4% while Ether (ETH) was down 6% over the same timeframe. 

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Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

Ripple’s XRP token soars 20% to $0.83 after SEC Chair Gary Gensler hints at resignation

The Crypto Briefing
Kalshi bettors favor Brian Brooks as SEC Chair under Trump 2.0
Crypto Briefing

Gensler's potential resignation could reshape SEC's crypto stance, possibly easing legal pressures on Ripple and boosting broader market confidence.

The post Ripple’s XRP token soars 20% to $0.83 after SEC Chair Gary Gensler hints at resignation appeared first on Crypto Briefing.

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Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

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