$33,000,000,000 in 6 Hours Gained by Crypto Market in Massive Reversal
The cryptocurrency market experienced an abrupt surge of bullish momentum, adding over $33 billion in total capitalization in just six hours, indicating a short-term shift in traders’ risk-on stance. Bitcoin, Ethereum and XRP led the charge as the rally propelled almost all significant assets into the green.
Massive market growth
Bitcoin increased 0.67% to approximately $110,700, while Ethereum (ETH) increased 1.22% to regain the $3,850 mark, according to market data. Following closely behind, XRP saw a daily gain of 11%, which was sufficient to overtake BNB and reclaim the fourth-largest cryptocurrency position by market capitalization.
At $152.2 billion, XRP’s total market capitalization is now ahead of BNB’s $150.4 billion, a slight but significant lead that indicates a resurgence of investor interest. Solana (+1.04%), Cardano (+0.62%) and Dogecoin (+0.61%) are all included in the sea of green that is the overall market heat map.
Staying positive
As Bitcoin’s stable position above its 200-day moving average restored some confidence, buying pressure briefly increased even for smaller-cap assets. The technical setup for Bitcoin is still cautiously optimistic, it is still above the crucial $108,000 support zone, and the next resistance cluster is forming close to $113,800-$114,000, which is in line with the 100-day moving average.
Ahead of significant macro data releases, the timing of the rally points to aggressive short liquidations and updated institutional positioning. Although most large caps’ RSI levels are still neutral, this move might be more of a relief rally than the beginning of a full-scale bull run.
Right now, all eyes are on XRP, whose return to the fourth spot may spark new conversations about its long-term potential in payments and remittances. The general lesson, however, is obvious: traders are back in action, liquidity is returning, and the cryptocurrency market has just served as a reminder to everyone of how quickly momentum can change.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin News Update: Crypto Shares Tumble Amid Liquidations, Security Breaches, and Federal Reserve Ambiguity Causing Market-Wide Upheaval
- U.S. crypto stocks plummeted pre-market on Nov 4, with MSTR (-3.30%), COIN (-3.12%), and BMNR (-4.90%) leading declines amid sector-wide volatility. - A $1.2B crypto liquidation event followed BTC/ETH's 3% hourly drop, triggering leveraged long position collapses and exposing sector liquidity risks. - DeFi protocol Moonwell suffered a $1M exploit via faulty oracle data, compounding recent vulnerabilities and prompting calls for multi-source price verification. - Fed's $125B liquidity injection fueled 67.
XTTA's Deflationary Drive: Token Burns Powering Expansion in Mining
- XTTA, Owlverse's native token, burned 50M tokens (12.5% of supply) to boost scarcity and value via deflationary strategy. - The "mining-driven + deflation" model aims to strengthen competitiveness in DePIN and smart finance sectors. - Future plans include surpassing 50% supply burns, contrasting traditional inflationary models to create upward price pressure. - Token burns align with crypto trends combating dilution, while real-world AI/infrastructure use cases enhance adoption potential. - Despite marke
Bitcoin Updates: Bitcoin's Sharp Drop and Federal Reserve's Quiet Easing Fuel Optimism for a Bull Market
- VIX fear index surged to 19.61 as Bitcoin fell below $108,000 amid corporate earnings uncertainty and Fed policy ambiguity. - BitMEX's Arthur Hayes warned U.S. Treasury and Fed's "Stealth QE" liquidity injections could reignite Bitcoin's bull market. - Meta's $118B AI spending triggered 11% stock drop, erasing $29.2B from Zuckerberg's wealth amid margin concerns. - Fed's $50B SRF liquidity spike highlighted market fragility, with Bitcoin's technical indicators showing bearish momentum below $106,453. - H
Smartphones Become Essential: M-KOPA Reaches 1 Million Users in Uganda, Tackling Financial Barriers
- M-KOPA reaches 1 million Ugandan customers via 7,484 DSRs, expanding digital inclusion through pay-as-you-go smartphones and loans. - The platform's "More than a Phone" initiative bundles financial tools, targeting 173,000+ users with loans, insurance, and mobile data in rural/urban areas. - With 83% of Ugandan DSRs under 35, M-KOPA aims to scale to 10 million smartphones by 2027, positioning devices as lifelines against financial exclusion across five African nations.
Trending news
MoreCrypto prices
More
