Floki (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>) jumped to the top of the daily gainers list after leading cryptocurrency exchange Coinbase announced support for the dog-themed cryptocurrency.



What happened: The meme coin soared nearly 16% over the last 24 hours to hit a five-month high.&nbsp;



Trading volume for the token increased 112% to $1.19 billion while its market capitalization pushed beyond $2.5 billion.



Floki's double-digit rally outperformed the blue-chip meme currencies, Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), which fell 0.81% and 2.80%, respectively.



Named after tech mogul Elon Musk's Shiba Inu dog, Floki has been one of the top-performing cryptocurrencies in 2024, with year-to-date gains of 668%.&nbsp;



See Also: <a href="https://www.benzinga.com/24/11/42079799/microstrategys-michael-saylor-to-advocate-for-bitcoin-investment-at-microsoft-board-meeting-offers-to-educate-rumble-ceo-with-the-strategy">Microstrategy&#8217;s Michael Saylor To Advocate For Bitcoin At Microsoft Board Meeting, Offers To Educate Rumble CEO As Well</a>



The rally followed an announcement by Coinbase to list the token on its platform on Thursday&nbsp;



Coinbase said users can start trading the token provided necessary liquidations are met.



"Once sufficient supply of this asset is established, trading on our FLOKI-USD trading pair will launch in phases. Support for FLOKI may be restricted in some supported jurisdictions," the exchange added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Coinbase will add support for FLOKI (FLOKI) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw">@Coinbase</a> &amp; <a href="https://twitter.com/CoinbaseExch?ref_src=twsrc%5Etfw">@CoinbaseExch</a> in the regions where trading is supported.&mdash; Coinbase Assets &#x1f6e1;&#xFE0F; (@CoinbaseAssets) <a href="https://twitter.com/CoinbaseAssets/status/1859280767202824378?ref_src=twsrc%5Etfw">November 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely-followed cryptocurrency analyst Javon Marks predicted that Floki might gain another 92% on its way to the target price of $0.0005467298.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FLOKI</a> (Floki Inu) has crossed back above the $0.0002761498 level and now has the $0.0005467298 target in play! This means that prices could be set here for an additional +92.3% move&#8230; <a href="https://t.co/4fgkP5kuhU">https://t.co/4fgkP5kuhU</a> <a href="https://t.co/QG3TtRw5K9">pic.twitter.com/QG3TtRw5K9</a>&mdash; JAVON&#x26a1;&#xFE0F;MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1859420585459163307?ref_src=twsrc%5Etfw">November 21, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Price Action: At the time of writing, FLOKI was exchanging hands at $0.0002765, up 15.97% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.



Image via Shutterstock



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/42079984/dogecoin-bitcoin-left-in-the-dust-by-ai-meme-coin-goat-as-nvidias-q3-earnings-draw-near">Dogecoin, Bitcoin Left In The Dust By AI Meme Coin GOAT As Nvidia&#8217;s Q3 Earnings Draw Near</a></li>
</ul>

Floki Beats Dogecoin, Shiba Inu With Double-Digit Gains After Coinbase Listing Announcement

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings company MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) ended Wednesday as Wall Street&#8217;s second-most traded stock, as its large acquisitions of the world&#8217;s leading cryptocurrency piqued the market&#8217;s interest.



What happened: MicroStrategy recorded volumes of $33.27 billion, trailing only artificial intelligence (AI) juggernaut Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), according to data from TradingView.



In fact, at one point, MicroStrategy bettered Nvidia&#8217;s trading volume.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Wow <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> is the most traded stock in America today.. to best <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> and <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> is crazy. It&#39;s been years since a stock has traded more than one of those two (it may have actually been <a href="https://twitter.com/search?q=%24GME&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GME</a> to last do it). It&#39;s also about double <a href="https://twitter.com/search?q=%24SPY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPY</a>! Wild times.. <a href="https://t.co/bUr8nycMX3">pic.twitter.com/bUr8nycMX3</a>&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1859278500399620528?ref_src=twsrc%5Etfw">November 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The Michael Saylor-led firm surpassed all other members of the &#8220;Magnificent 7&#8221; group, including Elon Musk's Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).



See Also: <a href="https://www.benzinga.com/24/11/42079799/microstrategys-michael-saylor-to-advocate-for-bitcoin-investment-at-microsoft-board-meeting-offers-to-educate-rumble-ceo-with-the-strategy">Microstrategy&#8217;s Michael Saylor To Advocate For Bitcoin At Microsoft Board Meeting, Offers To Educate Rumble CEO As Well</a>



MicroStrategy accounted for nearly 64% of the trading activity of all Bitcoin-related equities on Wednesday. Additionally, funds tracking the daily performance of the MicroStrategy stock, like T-Rex 2X Long MSTR Daily Target ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MSTU#BATS">MSTU</a>), logged higher volumes than spot Bitcoin ETFs.



Senior Bloomberg ETF Analyst Eric Balchunas stated that the $50 billion volume clocked by the "Bitcoin Industrial Complex" was the same as the average daily volume of the UK stock market.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Bitcoin Industrial Complex crushed their record today with $50b in volume (for context that&#39;s same as ADV of entire UK stock mkt). <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> alone was $32b of it. <a href="https://twitter.com/search?q=%24MSTU&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTU</a> and <a href="https://twitter.com/search?q=%24MSTX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTX</a> combined for $6b (which is more than all the spot btc ETFs, which were also elevated). What a scene. <a href="https://t.co/o63I8jr70T">pic.twitter.com/o63I8jr70T</a>&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1859349948103524409?ref_src=twsrc%5Etfw">November 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: The spike in volumes comes amid MicroStrategy&#8217;s aggressive Bitcoin-buying strategy.



Earlier this week, the firm <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42042019/bitcoin-buyer-spree-microstrategy-acquires-4-6b-in-btc-metaplanet-issues-11-4m-in-bonds-to-fund-purchases">announced an acquisition</a> of 51,780 Bitcoin for approximately $4.6 billion, one of its biggest purchases ever.&nbsp;



MicroStrategy currently holds 331,200 BTC, acquired at a total purchase price of approximately $16.5 billion, and worth over $31 billion at current market prices, <a href="https://bitcointreasuries.net/">according </a>to bitcointreasuries.net.



Price Action: Shares of MicroStrategy spiked 10% to close at $473.83 on Wednesday. Year-to-date, the stock was up nearly 584%, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.



Image via Shutterstock



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/42079984/dogecoin-bitcoin-left-in-the-dust-by-ai-meme-coin-goat-as-nvidias-q3-earnings-draw-near">Dogecoin, Bitcoin Left In The Dust By AI Meme Coin GOAT As Nvidia&#8217;s Q3 Earnings Draw Near</a></li>
</ul>

Michael Saylor's MicroStrategy Takes Wall Street By Storm, Becomes Second-Most Traded Stock After Nvidia

Bitcoin hit $95,000 for the first time ever, following reports of a cryptocurrency-focused role in the incoming Donald Trump administration.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+2.73%</td><td>$94,794.86</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.98%</td><td>$3,083.96</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.87%</td><td>$0.3845</td></tr></tbody></table></figure>



What Happened: The leading cryptocurrency briefly surpassed the never-seen-before level overnight on Wednesday before rebounding.



With the latest uptick, Bitcoin's weekly gains jumped to nearly 5%, while its market dominance reached 60%. Its returns for November have shot past 33% already, against the historical average of 45%.&nbsp;



On the contrary, Ethereum, the second-largest cryptocurrency by market capitalization, slid below $3,100. It was down over 3.5% over the week.



Bitcoin's rally followed reports of a<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42098407/donald-trump-reportedly-eyeing-the-first-crypto-focused-role-in-the-white-house"> dedicated cryptocurrency role</a> in Trump's administration that would act as a bridge between the White House, Congress, and regulatory agencies like the SEC and CFTC.



Nearly $350 million in leveraged positions were liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for $241 million.



Bitcoin's Open Interest (OI) surged 6.52% in the last 24 hours, implying heightened speculative interest among derivatives traders.



Most of the new bets favored Bitcoin's price increase as the number of long positions increased vis-à-vis shorts, according to the Long/Shorts Ratio.



Market sentiment remained in the "Extreme Greed" zone, as per the Cryptocurrency Fear and Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Floki (FLOKI)</td><td>+14.94%</td><td>$0.0002822</td></tr><tr><td>UNUS SED LEO (LEO)</td><td>+6.46%</td><td>$8.47</td></tr><tr><td>Tezos (XTZ)</td><td>+5.35%</td><td>$1.08</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.12 trillion, following an increase of 1.32% in the last 24 hours.



Stocks traded mixed on Wednesday. The S&amp;P 500 ended the session flat, while the tech-heavy Nasdaq Composite slid 0.11% to close at 18,966.14. The Dow Jones Industrial Average



The Nasdaq Composite lifted 195.66 points, or 1.04%, to end at 18,987.47. The S&amp;P 500 added 0.40% to close at 5,916.98. Meanwhile, the Dow Jones Industrial Average was the outlier, surging 139.53 points, or 0.32%, to end at 43,408.47.



Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares finished 0.76% lower ahead of third-quarter earnings, which eventually turned out to be<a href="https://www.benzinga.com/24/11/42099904/nvidia-q3-earnings-highlights"> better than expected</a>.



.See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Noted cryptocurrency analyst Ali Martinez drew a parallel with Bitcoin's Dec. 2020 trajectory, observing a "nearly identical" Relative Strength Index (RSI).



"If true, BTC will go to $108,000, drop to $99,000, and bounce to $135,000," Martinez added.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> looks like it did in December 2020. Even the RSI is nearly identical. If true, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> will go to $108,000, drop to $99,000, and bounce to $135,000! <a href="https://t.co/hsIBWBVGnl">pic.twitter.com/hsIBWBVGnl</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1859250153292538180?ref_src=twsrc%5Etfw">November 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another widely-followed analyst, Rekt Capital, stated that Bitcoin dips from the previously broken resistance would mean a "post-breakout retest."



"These retests aren&#8217;t always necessary but BTC&#8217;s most recent downside wicking demonstrates that there is at least retesting intent in the price action," the analyst remarked.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Any dips into the previously broken Range High (red) would constitute a post-breakout retest These retests aren&#39;t always necessary but BTC&#39;s most recent downside wicking demonstrates that there is at least retesting intent in the price action<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/r9YbUIg79C">https://t.co/r9YbUIg79C</a> <a href="https://t.co/uLIY7yXynz">pic.twitter.com/uLIY7yXynz</a>&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1859316012228710472?ref_src=twsrc%5Etfw">November 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo by SvetlanaParnikova on Shutterstock Read Next:    



<ul>
<li><a href="https://www.benzinga.com/general/education/24/11/42098422/heres-how-much-100-invested-in-cardano-today-could-be-worth-if-ada-hits-new-all-time-highs">Here&#8217;s How Much $100 Invested In Cardano Today Could Be Worth If ADA Hits New All-Time Highs</a></li>
</ul>

Bitcoin Hits $95K For The First Time Ever, Ethereum, Dogecoin Flat As Trump's Crypto Policy Takes Shape: Top Analyst Describes BTC's Path To $135K

<ul>
	<li>The global cryptocurrency market capitalization grew 3% on Wednesday, crossing the $3.1 trillion mark.&nbsp;</li>
	<li>The cryptocurrency sector valuation has now hit a new all-time high in three consecutive days, signaling strengthening bullish momentum.&nbsp;</li>
	<li>In the crypto ETF markets, Bitcoin ETFs pulled in $834.6 million while Ethereum ETFs faltered with 81 million outflows on November 19.&nbsp;</li>
</ul>

<h2 class="fxs_headline_medium">Altcoin Market Updates: Cardano, Stellar (XLM) emerge top gainers, while Ethereum’s FLOKI outperformed Solana memes</h2>

<ul>
	<li>Cardano (ADA) price emerged top gainer among the top 10 ranked crypto assets, scoring 11% gains to cross the $0.82 mark within the daily timeframe.&nbsp;</li>
</ul>

<a href="https://editorial.fxstreet.com/miscelaneous/Screen Shot 2024-11-21 at 12.58.53 AM-638677439441567601.png" target="_blank"><img src="https://editorial.fxstreet.com/miscelaneous/Screen%20Shot%202024-11-21%20at%2012.58.53%20AM-638677439441567601.png" style="width: 2048;height: 1018;"></a>Cardano (ADA) price action

ADA’s ongoing rally has been attributed to rumors that the Trump administration could collaborate with the Cardano network to build a blockchain voting system. ADA now looks likely to gain more ground as Trump’s January 20 inauguration date approaches.&nbsp;

<ul>
	<li>Ethereum’s second largest memecoin Floki Inu (FLOKI) also made headlines on Tuesday, rising 10% to reach $0.0003, while trending Solana memes including WIF, BONK, and PNUT all declined within the daily timeframe.&nbsp;</li>
	<li>Stellar (XLM) also rose 10% to reclaim the $0.25 territory on Wednesday, tailing XRP’s recent breakout amid several other bullish catalysts.&nbsp;</li>
</ul>

<a href="https://editorial.fxstreet.com/miscelaneous/Screen Shot 2024-11-20 at 11.29.03 PM-638677439774252976.png" target="_blank"><img src="https://editorial.fxstreet.com/miscelaneous/Screen%20Shot%202024-11-20%20at%2011.29.03%20PM-638677439774252976.png" style="width: 2542;height: 1224;"></a>

 
Stellar (XLM) Price Action | November 20, 2024

Notably, Stellar founder, Jed McCaleb, was also a <a href="https://coinmarketcap.com/academy/people/jed-mccaleb" target="_blank">co-founder</a> of Ripple Labs. As such XLM price has maintained close <a href="https://www.fxstreet.com/technical-analysis" data-fxs-autoanchor="">correlation</a> to XRP price movements since inception. &nbsp;

Hence, market reports suggest the XLM’s 10% rally on Wednesday could be attributed to Ripple (XRP)’s recent breakout to new 3-year peaks after its relisting on US-based exchanges Coinbase and Robinhood.

More so, Stellar has also recently secured strategic partnerships with global fintech giants, Mastercard, and Stripe, which has also deepened XLM mainstream adoption and credibility.&nbsp;

<h2 class="fxs_headline_medium">Chart of the day: Bulls mounting pressure as Bitcoin price tops $94K&nbsp;</h2>

 
Bitcoin price bounced 3% to reach a new all-time high of $94,831 on Wednesday as bulls continue to push for the milestone $100,000 breakout. Major catalysts driving BTC this week include, Microstrategy, Marathon digital and rising ETF inflows&nbsp; 
After Microstrategy acquired 51,000 BTC for $4 billion on Monday, founder Michael Saylor is now set to pitch the bitcoin acquisition strategy to Microsoft.&nbsp; 
Meanwhile, US-based bitcoin miner Marathon digital has increased its BTC acquisition plan to $1 billion, after initially proposing a $700 million debt note. Likewise, Bitcoin ETFs also snapped up another $1.09 billion inflows since the start of the week.&nbsp;

<a href="https://editorial.fxstreet.com/miscelaneous/BTCUSDT_2024-11-20_23-59-06-638677440416702365.png" target="_blank"><img src="https://editorial.fxstreet.com/miscelaneous/BTCUSDT_2024-11-20_23-59-06-638677440416702365.png" style="width: 2580;height: 1652;"></a>Bitcoin price action | November 20

With all of these bullish catalysts in play, technical <a href="https://www.fxstreet.com/rates-charts/indicators" data-fxs-autoanchor="">indicators</a> on the BTCUSDT daily chart are flashing signals of another imminent breakout attempt towards $100,000

Based on trading data culled from Binance, Bitcoin price trading at $94,162 at press time, has now moved above its Volume Weighted Average Price of $93,154, while the Volume Delta also flipped into positive values for the first time <a href="https://www.fxstreet.com/economic-calendar" data-fxs-autoanchor="">this week</a>. &nbsp;

First, the Volume Weighted Average Price (VWAP) suggests that the majority of active BTC traders are currently bidding marginally higher to get their order filled quicker rather than wait for market-clearing prices.&nbsp;

Additionally, the Volume Delta metric measures the net difference between buying and selling volumes within a given period.

The positive shift in Volume Delta indicates that bullish buy orders now outnumber active sell orders, a move that often precedes a major price breakout.&nbsp; 
If these conditions persist, <a href="https://www.fxstreet.com/cryptocurrencies/bitcoin" data-fxs-autoanchor="">Bitcoin price</a> could be on the verge of breaching the vital $95,000 resistance territory.

<h2 class="fxs_headline_medium">Crypto news updates:</h2>

<ul>
	<li>Russian authorities have moved to ban crypto mining in occupied Ukrainian territories from December 2024, to mitigate electricity shortages.</li>
</ul>

The mining suspensions extend across key regions including Donetsk, Luhansk, Zaporizhia, and Kherson.

<ul>
	<li>MicroStrategy’s market capitalization crossed the $100 billion mark on Wednesday and now moves to surpass rival IT giant Intel's &nbsp;$102 billion valuation.</li>
</ul>

Notably, Microstrategy’s MSTR share price has increased by 254% over the past month as the firm doubled down on its BTC acquisition strategy.&nbsp;

<ul>
	<li>Gary Wang, former CTO of FTX, avoided prison at his sentencing in a Manhattan federal court on Wednesday.&nbsp;</li>
</ul>

US District Judge Lewis Kaplan’s decision followed Wang’s guilty plea to four felony charges of fraud and conspiracy.

According to Reuters’ <a href="https://www.reuters.com/legal/bankman-frieds-ex-deputy-wang-avoids-prison-time-over-crypto-fraud-2024-11-20/" target="_blank">reports,</a> Wang had cooperated with prosecutors, testifying in the trial of Sam Bankman-Fried, the FTX founder convicted of fraud.

Wang and Bankman-Fried’s partnership began at a high school math camp and extended through their time at MIT, ultimately leading to FTX’s creation.

&nbsp;

<ul>
	<li>CHILLGUY token, a <a href="https://dexscreener.com/solana/93tjgwff5ac5thymi8c4wejvvqq4tumemuyw1leyz7bu" target="_blank">newly launched memecoin</a> hit $500 million market cap, after recording a staggering 20,000% growth in five days as a viral TikTok trend fuelled its popularity.</li>
</ul>

Having secured its first exchange listing with Crypto.com, CHILLGUY looks set for busier market activity in the days ahead.&nbsp;

 
&nbsp;

Crypto Today: Cardano, XLM, FLOKI lead $3.1 trillion rally, Russia bans crypto mining, Bitcoin eyes $95K

Trump administration allegedly seeks to create new crypto position in White House

<ul>
	<li>Solana price fell to $230 on Wednesday, down 8% from its 3-year peak of $248 recorded on Monday.</li>
	<li>Market demand for Solana dipped 52% in the last 72 hours, dropping from 9.9 billion to 6.7 billion SOL.</li>
	<li>In the derivatives markets, funding rates declined 50%, while open interest rose $630 million, signaling an influx of short positions.</li>
</ul>

Solana price has succumbed to a 7% dip after rejecting the $250 resistance on Monday. Negative shifts in vital trading <a href="https://www.fxstreet.com/rates-charts/indicators" data-fxs-autoanchor="">indicators</a> suggest bears could delay the all-time high breakout target.&nbsp;

<h2 class="fxs_headline_medium">Solana retraces toward $230, after failed all-time high breakout attempt&nbsp;</h2>

 
On November 14, Solana price rose to a 3-year high of $248 amid rising <a href="https://www.fxstreet.com/cryptocurrencies/news/dogecoin-price-forecast-selling-pressure-drops-95-as-doge-traders-target-050-breakout-202411192107#:~:text=Dogecoin%20price%20forecast%3A%20All%20eyes%20on%20%240.44%20resistance&amp;text=A%20breakout%20above%20the%20%240.44,%240.50%20as%20the%20next%20milestone." target="_blank">memecoin demand</a> and positive speculations around VanEck’s SOL spot ETF applications. Notably, the rally saw Solana price come within 5% of crossing its all-time high of $259 recorded in November 2021.&nbsp;

Having failed to breach the $250 resistance, Solana bulls began to book profits.&nbsp;<a href="https://editorial.fxstreet.com/miscelaneous/SOLUSDT_2024-11-20_21-51-29-638677344777578976.png" target="_blank"><img src="https://editorial.fxstreet.com/miscelaneous/SOLUSDT_2024-11-20_21-51-29-638677344777578976.png" style="width: 2580;height: 1652;"></a>

Solana price <a href="https://www.fxstreet.com/analysis" data-fxs-autoanchor="">analysis</a> | SOLUDST&nbsp;

The chart above shows that Solana traded as low as $230 within the daily timeframe on Wednesday, reflecting a 7% decline from last week's top.

Solana’s price stagnation over the last 48 hours has seen it slip behind XRP to rank fourth.&nbsp;

<h2 class="fxs_headline_medium">Market demand for SOL dipped 52% amid price correction&nbsp;</h2>

While Solana still maintains relatively high support levels, vital trading indicators suggest the bullish momentum is losing steam.

Affirming this narrative, the Santiment chart below, tracks the volume of SOL coins traded daily.&nbsp;

<a href="https://editorial.fxstreet.com/miscelaneous/Screen Shot 2024-11-20 at 4.44.08 PM-638677344785919324.png" target="_blank"><img src="https://editorial.fxstreet.com/miscelaneous/Screen%20Shot%202024-11-20%20at%204.44.08%20PM-638677344785919324.png" style="width: 3192;height: 1474;"></a>

Solana trading volume | Source: Santiment

As seen above, over 9.9 billion SOL were traded on November 17, the second-highest daily volume in the past 90 days dating back to August 5.

However, after facing rejection at the $250 resistance level, market demand for Solana has declined considerably.

According to the latest data, investors traded only 6.7 billion SOL on November 19, reflecting a sharp 52% drop in trading volume over 48 hours.

Such a significant decline during a price consolidation phase may catalyze bearish sentiment for two key reasons.&nbsp;

First, it signals reduced market confidence among short-term traders which could potentially weaken the upward price momentum.

Without a strong recovery in demand, this could make Solana vulnerable to further price corrections, especially if volumes drop further in the days ahead.&nbsp;

<h2 class="fxs_headline_medium">Short traders mount pressure as funding rates drop 50%</h2>

While trading volumes have declined by 52% amid the ongoing consolidation phase, Solana short traders are making strategic moves to regain market dominance.&nbsp;

The Coinglass charts below depicts open interest and funding rate trends, two vital metrics for monitoring trading sentiment among short-term speculative traders.&nbsp;

 
While the open interest metric tracks total capital <a href="https://www.fxstreet.com/markets/equities" data-fxs-autoanchor="">stock</a> invested in solana futures markets, the funding rate data shows directional changes in fees paid between short and long position holders.&nbsp;

<a href="https://editorial.fxstreet.com/miscelaneous/image (38)-638677345125369932.png" target="_blank"><img src="https://editorial.fxstreet.com/miscelaneous/image%20(38)-638677345125369932.png" style="width: 2200;height: 1176;"></a>Solana Funding rates vs Open Interest (OI) | SOLUSD

As depicted above, Solana's funding rate dropped from 0.04 on Monday to hit the 0.02 mark at the time of publication on November 20, coinciding with a $630 million increase in open interest.&nbsp;

This reflects that bull traders have scaled down leverage deployed on their SOL long positions by 50% over the last two days.

When a funding rate decline is accompanied by an increase in open interest, it signals an influx of short positions.&nbsp;

With the majority of short-term speculative traders betting on further downswings, Solana price new all-time high prospects could stall.&nbsp;

<h2 class="fxs_headline_medium"> 
Solana price forecast: $230 support at risk&nbsp;</h2>

With bears dominating the derivatives markets, Solana daily chart shows mild-bearish signals, with key technical indicators showing that $230 support level could be at risk.&nbsp;

First, the Bollinger Bands (BB) reflect significant tightening inwards, indicating reduced volatility, which often precedes a major reversal.&nbsp;

<a href="https://editorial.fxstreet.com/miscelaneous/SOLUSDT_2024-11-20_21-52-24-638677345455156733.png" target="_blank"><img src="https://editorial.fxstreet.com/miscelaneous/SOLUSDT_2024-11-20_21-52-24-638677345455156733.png" style="width: 2580;height: 1652;"></a>

Solana price forecast | SOLUSD

In confirmation of the bearish <a href="https://www.fxstreet.com/rates-charts/forecast" data-fxs-autoanchor="">outlook</a>, Solana’s Average Directional Index (ADX) has also dropped to 0.81, signaling weakening trend strength. This reflects waning bullish momentum, exacerbating concerns that Solana might struggle to reclaim its recent highs.&nbsp;

If sellers gain further control, Solana price could lose the $230 support, heightening risk of potential decline toward the next major support at $202, aligning with the 50-day Simple Moving Average (SMA).

 
To regain bullish traction, SOL price must close above the $230 level.

In this scenario, a surge in trading volumes could potentially push prices back above $240. However, failure to hold $230 will likely validate bearish sentiment, potentially triggering a retest of deeper support zones.

 
&nbsp;

Solana Price Forecast: Traders move 6.7B SOL as bulls target all-time highs

The Core Foundation on Wednesday announced the Fusion Upgrade, a significant development for its blockchain platform, aiming to improve Bitcoin staking for a diverse range of users, including financial institutions <a href="https://www.benzinga.com/money/bitcoin-price-prediction">and individual investors.</a>



What Happened: The upgrade introduces Dual Staking and Liquid Staked Bitcoin (LstBTC), two features designed to increase staking rewards and address liquidity challenges, marking a new phase for the platform's role in Bitcoin-focused <a href="https://www.benzinga.com/money/what-is-defi#:~:text=In%20simple%20terms%2C%20DeFi%20involves,is%20Decentralized%20Finance%20(DeFi)%3F">decentralized finance (DeFi)</a>.



Dual Staking enables users to earn enhanced rewards by staking both Bitcoin and CORE (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">CORE</a>) tokens, potentially offering higher returns.



Meanwhile, LstBTC, an ERC-20 token pegged 1:1 with Bitcoin, allows holders to maintain liquidity while earning daily CORE token rewards. 



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084945/coinbase-ceo-brian-armstrong-backs-doge-initiative-how-blockchain-could-transform-government-efficiency">Coinbase CEO Brian Armstrong Backs DOGE Initiative: How Blockchain Could Transform Government Efficiency</a>



This feature seeks to resolve a long-standing issue in DeFi by balancing staking benefits with liquidity needs. 



"This upgrade delivers scalability and yield enhancements that will not only improve the experience for current stakers but also attract new participants," said Rich Rines, an Initial Contributor to Core.



The Core blockchain has already secured over 7,600 BTC through its non-custodial staking protocol and claims support from approximately 75% of Bitcoin's hash rate. 



The blockchain has a total value locked (TVL) exceeding $650 million and over 300 million transactions processed. 



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42072663/bitcoin-etf-options-could-smooth-volatility-become-available-on-robinhood-soon-expert-says">Bitcoin ETF Options Could Smooth Volatility, Become Available On Robinhood Soon, Expert Says</a></li>
</ul>



Image: Shutterstock

Core Fusion Upgrade Introduces Dual Staking And Liquid Bitcoin Staking

Cryptocurrency markets are trading lower on Wednesday despite strong interest in spot Bitcoin ETFs.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>&nbsp;$94,297.59</td><td>+1.3%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>&nbsp;$3,076.55</td><td>-1.5%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>&nbsp;$234.51&nbsp;</td><td>-3.3%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>&nbsp;$0.3765</td><td>-6%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00002387&nbsp;&nbsp;</td><td>-5.2%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 8.8% and daily active addresses falling by 6.4%. Transactions greater than $100,000 are up from 11,812 to 11,911 in a single day. Exchanges netflows are up by 84,696.7%.</li>



<li>Coinglass data reports 154,969 traders were liquidated in the past 24 hours for $397.33 million. Crypto short liquidations are at their lowest since Nov. 5 at $86.5 million.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42086650/robinhood-positioned-as-top-crypto-deregulation-trade-says-bernstein">Robinhood Positioned As Top &#8216;Crypto Deregulation&#8217; Trade, Says Bernstein</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42082385/coinbase-to-delist-wrapped-bitcoin-on-this-date-citing-listing-standards">Coinbase To Delist Wrapped Bitcoin On This Date, Citing &#8216;Listing Standards&#8217;</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084945/coinbase-ceo-brian-armstrong-backs-doge-initiative-how-blockchain-could-transform-government-efficiency">Coinbase CEO Brian Armstrong Backs DOGE Initiative: How Blockchain Could Transform Government Efficiency</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42090657/microstrategy-upsizes-convertible-notes-offering-to-2-6-billion-for-bitcoin-purchases">MicroStrategy Upsizes Convertible Notes Offering To $2.6 Billion For Bitcoin Purchases</a></li>
</ul>



Top Losers:



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Goatseus Maximus (CRYPTO: GOAT)</td><td>&nbsp;$0.9278</td><td>-18.3%</td></tr><tr><td>Popcat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POPCAT</a>)</td><td>&nbsp;$1.53</td><td>-16.2%</td></tr><tr><td>Peanut the Squirrel (CRYPTO: PNUT)</td><td>&nbsp;$1.48</td><td>-14.7%</td></tr></tbody></table></figure>



Trader Notes: With Bitcoin prices trading relatively flat, crypto trader DonAlt jokingly nudged traders to place their bets on the next move being up or down.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Place your bets, up or down brothers <a href="https://t.co/JK5i14m26d">pic.twitter.com/JK5i14m26d</a>&mdash; DonAlt (@CryptoDonAlt) <a href="https://twitter.com/CryptoDonAlt/status/1859312775727808947?ref_src=twsrc%5Etfw">November 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Michaёl van de Poppe <a href="https://x.com/CryptoMichNL/status/1859309485396775198">added</a> that Bitcoin's thesis remains a "slow grind up, significant flush, and then reverse back upwards." .



Crypto trader CrediBULL Crypto sees altcoins are approaching critical levels of interest as Bitcoin approaches a potential fakeout above local range highs. Ideally, BTC would re-enter its range, allowing a few weeks of altcoin outperformance.



Many altcoins face &#8220;make or break&#8221; moments, where strong upside potential is possible if BTC stabilizes. The market's <a href="https://x.com/CredibleCrypto/status/1859324721222799637">direction</a> will become clear soon.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42097892/bitcoin-to-100000-is-programmed-dogecoin-bonk-to-benefit-veteran-trader-says">Bitcoin To ‘$100,000 Is ‘Programmed:' Dogecoin, Bonk To Benefit, Veteran Trader Says</a></li>
</ul>



Image: Shutterstock

Bitcoin Holding On To $94,000, Ethereum, Dogecoin Trade Lower: 'Place Your Bets, Up Or Down Brothers,' Says Trader

FLOKI to go live on Coinbase few days after the exchange listed PEPE and WIF

President-elect Donald Trump&#8217;s transition team is considering creating the first-ever White House role dedicated to cryptocurrency policy, signaling a potential shift in the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41770352/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">U.S. government&#8217;s approach to digital assets</a>.



What Happened: The Trump transition team is evaluating candidates for a role that would act as a bridge between the White House, Congress, and regulatory agencies like the SEC and CFTC. 



Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-11-20/trump-team-mulls-creating-first-ever-white-house-crypto-role?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_content=crypto">reported</a> on Wednesday that while the exact nature of the position remains unclear, industry advocates are pushing for direct access to Trump.



The creation of this position aligns with Trump's campaign promises to overhaul crypto regulation, including <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41680397/who-will-replace-gary-gensler-the-top-candidates-for-sec-chair-after-the-election">replacing SEC Chair Gary Gensler</a> and forming a new crypto advisory council.



Key industry players are already vying for influence. 



Brian Brooks, a former executive at Coinbase and Binance.US, met with Trump at Mar-a-Lago, while Coinbase CEO Brian Armstrong reportedly held discussions with the president-elect this week.



Also Read: <a href="https://www.benzinga.com/24/11/42071926/a-hedge-fund-hit-big-on-trumps-rumored-crypto-acquisition-and-is-up-1415-million">A Hedge Fund Hit Big On Trump&#8217;s Rumored Crypto Acquisition And Could Be Up $14.15 Million</a>



Why It Matters: Trump's connection to the crypto industry runs deep. 



During his campaign, he promised substantial reforms and frequently engaged with Bitcoin mining firms and exchange executives. 



In July, he even addressed a Bitcoin conference, further solidifying his interest in the sector by stating he will <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">U.S. the crypto capital of the planet.</a>



Beyond policy, Trump has made personal forays into the crypto space, including the <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40623221/donald-trumps-fourth-nft-collection-has-generated-over-2m-in-sales-in-just-1-day">release of his fourth NFT collection</a>. 



His media venture, Trump Media &amp; Technology Group, has also <a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">expressed interest in acquiring Bakkt Holdings</a>, a company specializing in crypto custody and trading.



Meanwhile, private equity billionaire Marc Rowan, a potential Treasury Secretary pick, admitted <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42091821/could-donald-trumps-potential-treasury-secretary-be-out-of-his-depth-on-crypto-policy-polymarket-traders-just-cant-decide-on-a-favorite">limited expertise in crypto's role</a> within the U.S. financial system, indicating the potential significance of a dedicated crypto-focused role.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42027183/michael-saylor-predicts-bitcoin-boom-says-100k-on-the-horizon">Michael Saylor Predicts Bitcoin Boom, Says $100K On The Horizon</a></li>
</ul>



Image: Shuterstock

Donald Trump Reportedly Eyeing The First Crypto-Focused Role In The White House

MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) shares are trading higher Wednesday, potentially driven by Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continued price surge. Here&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42096519/bitcoin-to-reach-190000-this-cycle-michael-terpin-of-transform-group-says">what you need to know.</a>



What To Know: Bitcoin has gained about 125% so far this year. Several crypto-related stocks are moving higher Wednesday after Bitcoin briefly hit all-time highs. Bitcoin was up about 1.1% over a 24-hour period, trading around $94,100 at last check.



Optimism around President-elect Donald Trump's incoming administration has also boosted sentiment. Trump has said he would establish a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42080839/cynthia-lummis-says-strategic-bitcoin-reserve-could-take-shape-soon-after-trump-raises-his-hand-and-is-sworn-in">strategic&nbsp;Bitcoin reserve</a>&nbsp;upon his return to the White House. 



Speaking at Benzinga's <a href="https://benzinga.swoogo.com/fintech-awards/agenda-2024" target="_blank" rel="noreferrer noopener">Fintech Deal Day</a> on Tuesday, Michael Terpin, CEO of The Transform Group, predicted that Bitcoin could reach $193,000 in late 2025, with potential highs of $200,000 to $300,000 by the end of its current cycle if regulatory conditions improve.



Check This Out: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42080839/cynthia-lummis-says-strategic-bitcoin-reserve-could-take-shape-soon-after-trump-raises-his-hand-and-is-sworn-in">Cynthia Lummis Says Strategic Bitcoin Reserve Could Take Shape Soon After Trump &#8216;Raises His Hand And Is Sworn In&#8217;</a>



The trading activity in Marathon, one of the largest Bitcoin miners, is closely tied to Bitcoin's performance. Rising Bitcoin prices increase the value of MARA&#8217;s Bitcoin holdings. Interestingly enough, MARA Holdings is outperforming other Bitcoin mining peers on Wednesday. The outperformance may be due to the company&#8217;s strategy to raise capital to accumulate Bitcoin, similar to MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), which continues to see relative outperformance.



MARA Holdings adopted a <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39958725/marathon-digital-buys-bitcoin-adopts-full-hodl-strategy-whats-going-on-with-the-mining-sto">"full HODL"</a> strategy for its Bitcoin treasury policy earlier this year, retaining all Bitcoin it mines and periodically making strategic open market purchases. The company held a total of <a href="https://www.benzinga.com/news/earnings/24/11/41923273/mara-holdings-q3-earnings-revenue-miss-eps-miss-2070-bitcoin-mined-energized-hash-rate-up-9-exahash-target-firmly-in-sight">26,747 Bitcoin</a> as of Sept. 30.



MARA Holdings on Monday announced an upsized offering of $850 million in convertible<a href="https://www.benzinga.com/trading-ideas/movers/24/11/42066506/bitcoin-mining-stock-mara-holdings-is-moving-higher-whats-going-on"> senior notes</a> due in 2030. The company said proceeds will be used to repurchase existing debt and acquire more Bitcoin.



MARA Price Action: MARA Holdings shares were up 16.3% at 23.12 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/24/11/42097269/the-trade-desk-launches-ventura-transforming-streaming-tv-advertising">The Trade Desk Launches Ventura to Transform Streaming TV Advertising</a></li>
</ul>



Image via Shutterstock.

Bitcoin Mining Stock MARA Holdings Is Ripping Higher Wednesday: What's Going On?

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) approach toward the psychological $100,000 mark has sparked interest, with inflows into spot ETFs and <a href="https://www.benzinga.com/news/events/24/11/42078359/blackrocks-head-of-digital-assets-says-ibit-spot-bitcoin-etf-options-blow-past-1-billion-in-trading-volume">IBIT options trading</a> contributing to optimism.  



Statistics: Lookonchain <a href="https://x.com/lookonchain/status/1859239536397795757">data</a> shows the spot Bitcoin ETFs recording a net inflow of 9,363 BTC ($884.9 million) on Tuesday.



Spot Ethereum ETFs reported a net outflow of 26,071 ETH ($81.16 million). 



Ark21Shares&#8216; (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>) led Bitcoin inflows with 2,871 BTC, increasing its holdings to 49,699 BTC, while Fidelity&#8216;s (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>) reported the highest outflows of 15,000 ETH.



Bloomberg analyst Eric Balchunas <a href="https://x.com/EricBalchunas/status/1859253814051708964">noted</a> that ETF flows have hit record levels globally, with December historically being a high-flow month.



Trader Notes: Crypto chart analyst Ali Martinez compared Bitcoin's current performance to December 2020, citing identical RSI levels. His forecast suggests BTC will hit $108,000, retrace to $99,000, and then surge to $135,000.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> looks like it did in December 2020. Even the RSI is nearly identical. If true, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> will go to $108,000, drop to $99,000, and bounce to $135,000! <a href="https://t.co/hsIBWBVGnl">pic.twitter.com/hsIBWBVGnl</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1859250153292538180?ref_src=twsrc%5Etfw">November 20, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Altcoin Sherpa <a href="https://x.com/AltcoinSherpa/status/1859240448021209366">sees</a> Bitcoin&#8217;s rise to $100,000 as &#8220;programmed,&#8221; with big meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>) expected to benefit. 



He predicts continued consolidation for altcoins, offering further opportunities for gains.



CrediBULL Crypto <a href="https://x.com/CredibleCrypto/status/1859006344935956564">noted</a> Bitcoin's movement above key low timeframe (LTF) levels, suggesting a consolidation phase before a sustained rise. If Bitcoin holds its highs, altcoins may pump further, but a sharp pullback to $70,000 could drag altcoins down temporarily.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42024635/scaramucci-trumps-crypto-support-could-push-bitcoin-to-150k">Scaramucci: Trump&#8217;s Crypto Support Could Push Bitcoin To $150K</a></li>
</ul>



Image: Shutterstock

Bitcoin To '$100,000 Is 'Programmed:' Dogecoin, Bonk To Benefit, Veteran Trader Says

Glauber Contessoto, famously known as the "<a href="https://www.benzinga.com/news/24/11/41888955/from-16-000-to-18-million-in-unrealized-gains-millionaire-bonk-doge-trader-shares-update-if-you-cant">Dogecoin Millionaire</a>," unveiled his 2024 meme coin strategy, aimed at amassing $50 million in profits during the 2025 bull market.



What Happened: Contessoto's approach emphasizes diversification and data-driven decision-making across several categories:



<ul>
<li>Category 1 is selecting the top 10 meme coins by market capitalization and investing $10,000 in each of the top three. He advised taking decisions purely on valuations and charts with no emotional or narrative-based input.</li>
</ul>



<ul>
<li>Category 2 is choosing the top three meme coins by Blockchain and investing $10,000 in each of the top three like Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), Avalanche (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/avax/usd">AVAX</a>), Sui (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SUI</a>). Contessoto believes meme coins often gain as their native blockchains grow, with DEX trades stacking blockchain altcoins faster.</li>
</ul>



<ul>
<li>Category 3 is the boys club meta with heavy focus on Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) as the &#8220;IT&#8221; meme coin for the 2025 bull run, projecting a $100 billion valuation. Also, investing in the PEPEVERSE like Brett (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BRETT</a>), Andy (CRYPTO: ANDY), WOLF on different blockchains. BRETT is likened to Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) from the last cycle, while Pepe is compared to Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) in 2021 bull run. Contessoto revealed investing $10,000 in ANDY and WOLF based on their market capitalization.</li>
</ul>



<ul>
<li>Category 4 suggests investing in meme coins with strong teams, communities, marketing or cult-like followings. He <a href="https://x.com/ProTheDoge/status/1859272433372647792">targets</a> to build a balanced portfolio to maximize gains, $50 million, during the 2025 bull run.</li>
</ul>



Contessoto has previously voiced his support for PEPE and and DOGE, saying both meme coins can crack <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40876130/dogecoin-millionaire-highlights-pepe-and-dogecoin-as-two-biggest-meme-narratives-for-2025-">new all-time highs in 2025.</a>



Read Next:



<ul>
<li> <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42079262/dogecoin-millionaire-predicts-ethereum-to-hit-15-000-if-bitcoin-cracks-200-000">&#8216;Dogecoin Millionaire&#8217; Predicts Ethereum To Hit $15,000 If Bitcoin Cracks $200,000</a></li>
</ul>



Image: Shutterstock

'Dogecoin Millionaire' Shares $50 Million Meme Coin Strategy For 2025: Pepe, Brett Are This Bull Run's DOGE, Shiba Inu

Ethereum Price Forecast: ETH could see 23% decline as investors are potentially rotating to other altcoins

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could hit a benchmark price of <a href="https://www.benzinga.com/money/bitcoin-price-prediction">$193,000 by the end of its current cycle</a>, according to Michael Terpin, founder and CEO of The Transform Group.



What Happened: Terpin, who tied the projection to Bitcoin's historical price movements and favorable macroeconomic conditions, also noted that the price could range between $200,000 and $300,000 if the environment improves further.



He was speaking at Benzinga&#8217;s <a href="https://benzinga.swoogo.com/fintech-awards/agenda-2024">Fintech Deal Day</a> on Nov. 19.



At the event, he also announced the launch of his book &#8220;Bitcoin Supercycle,&#8221; which explains his "Four Seasons of Bitcoin" model, which shows how the price of Bitcoin moves in reliable cycles similar to those of real estate and stock markets—and gives readers the numbers, evidence, charts, and strategies to take advantage.



"My price prediction is going to be three times the halving price, which would be about $193,000 as a benchmark," he stated during the panel. 



Later speaking with Benzinga, he emphasized that macroeconomic factors, particularly under President-elect Donald Trump's administration, could influence Bitcoin's trajectory. "With Trump being in office, the macro should be good. So I believe we'll be between $200,000 and $300,000 by the end of the cycle."



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42076384/dogecoin-millionaire-predicts-ethereum-to-hit-15000-if-bitcoin-cracks-200000">&#8216;Dogecoin Millionaire&#8217; Predicts Ethereum To Hit $15,000 If Bitcoin Cracks $200,000</a>



Cycle End Predicted in Q4 2025



He suggested that the current cycle is likely to culminate in the fourth quarter of 2025, potentially around November or December. 



Bitcoin's strong performance this year, delivering returns exceeding 130%, was cited as evidence of the cryptocurrency's ability to outperform traditional asset classes like stocks and real estate.



Trump's Impact on Crypto Regulation



The discussion also highlighted optimism surrounding Trump's administration and its <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41770352/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">potential impact on cryptocurrency regulation.</a>



Terpin described Trump as the "first Bitcoin president," expressing confidence that the incoming administration would appoint a Securities and Exchange Commission (SEC) chair who is <a href="https://www.benzinga.com/24/11/42071926/a-hedge-fund-hit-big-on-trumps-rumored-crypto-acquisition-and-is-up-1415-million">favorable to Bitcoin</a>.



"There's renewed optimism. I think [Trump] will take a head of the SEC who is friendly to Bitcoin," he added.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/news/events/24/11/42068771/bitcoin-ethereum-etfs-and-tokenized-assets-broaden-investor-access">Bitcoin, Ethereum ETFs And Tokenized Assets &#8216;Broaden&#8217; Investor Access</a></li>
</ul>



Image: Shutterstock

	Pair	Max Leverage	Price	24h Change	High	Low	Last 7 days

Pay Trading Fees with MBG

Spot

Pay Trading Fees with MBG

Quick Buy Crypto

Quick Sell Your Assets

Market Sentiment

Trade RWAs