Bitcoin Floats Around $97K As Trump Urges BRICS Nations To Use USD

The cryptocurrency market is currently navigating an intriguing phase. Several altcoins are gaining momentum, gradually diminishing the dominance exhibited by Bitcoin (BTC), which is stabilizing around the $97,000 mark. The total market capitalization stands at approximately $3.56 trillion.

Volatility Continues
Bitcoin has experienced notable volatility over the past week, with the price dipping to near $90,000 before staging a strong V-shaped recovery. Yesterday, bullish momentum attempted to push the price toward $99,000, but the effort fell short. Currently, Bitcoin is trading around $96,700, where it has been consolidating in recent hours.
The question now is whether buyers will drive the price toward the coveted $100,000 level or if we will witness another correction. Over the past week, the dominance of BTC has dropped by more than 3%, currently standing at around 53%. This suggests that altcoins have been outperforming Bitcoin in recent times.
To that end, Ripple (XRP) has emerged as the standout performer, surging 15% in the past 24 hours, making it the top-performing large-cap cryptocurrency in the top 20. The broader market heatmap over the last 24 hours is predominantly green, indicating a positive sentiment across the market. Finally, among the top 100 cryptocurrencies, some of the most notable performers include, Hyperliquid (HYPE), up 76%, Core (CORE), up 40%, and Ethereum Name Service (ENS), up 30%.

Other Markets

In 2022, opposition to the United States Dollar (USD) grew, especially after the U.S. imposed sanctions on Russia. Former President Trump is now urging BRICS nations to commit to using the dollar for trade. Meanwhile, concerns about a stock market bubble are rising, as new plans by the Trump administration could inflate the bullish market.

Meanwhile, Black Friday sales saw significant growth, with online shopping leading the charge. In South Korea, electricity shortages are leading officials to suggest increasing U.S. energy imports while the French bond market faces turbulence. Adani shares dropped following a U.S. indictment and scrapped bond sale, though the company denies bribery charges.

On the financial front, critics are pointing to flaws in budget planning, while Northvolt AB is closing its battery plant in Poland. The central bank has raised alarms about the housing boom and its potential risks to banks, while CPI Property plans to open its Czech portfolio to retail investors. Finally, the Quant Olympics, a global competition by Millennium, is searching for the next wave of finance talent.