On December 3, Bitcoin fell to approximately $95,539.81 with a dip of 0.46%. Ethereum also lost value, falling 1.04%, while Litecoin gained 4.50%. The IOTA token surged 43%, marking it as the day’s top gainer. The global cryptocurrency market cap rose to $3.46 trillion with a Fear & Greed Index score indicating extreme greed at 78. Market analysts suggest potential bullish movements, contingent on Bitcoin’s price breaking the $98,000 resistance level.

On December 3, 2023, the cryptocurrency market experienced notable shifts, with Bitcoin (BTC) dipping to around $95,539.81, representing a decline of 0.46% over a 24-hour period. Alongside Bitcoin, altcoins showed varied performance—Ethereum (ETH) encountered a 1.04% drop, while Litecoin (LTC) surged by 4.50%. The IOTA token emerged as the significant gainer of the day, witnessing a remarkable increase of over 43%. Overall, the global crypto market capitalization rose by 0.82%, reaching $3.46 trillion.

Market sentiment, as indicated by the Fear & Greed Index, reflects extreme greed at a score of 78. Notably, institutional interest in Bitcoin remains high, exemplified by MicroStrategy’s acquisition of over 15,000 BTC last week, furthering its holdings significantly. Analysts have noted that Bitcoin is maintaining a price range between $95,000 and $98,000 and suggest that the upcoming market movements may hinge on breaking past these resistance levels. Analysts perceive a bullish sentiment as BTC options are trading at a discount, indicating optimism among traders.

The top five gainers today included IOTA, Hedera (HBAR), Ondo (ONDO), Kaia (KAIA), and VeChain (VET), highlighting significant upward movement in these assets. Conversely, the leading losers were AIOZ Network (AIOZ), Dogecoin (DOGE), Kaspa (KAS), Brett (Based) (BRETT), and Floki (FLOKI), marking a decline across these cryptocurrencies. Analysts from various exchanges provide insights on the contributions of market dynamics to these price fluctuations, emphasizing that the market is strategically awaiting catalysts for further price movement.

The cryptocurrency market is exceptionally volatile and influenced by numerous factors, including macroeconomic events, market sentiments, and institutional investment dynamics. On this particular day, Bitcoin, regarded as a leading indicator for the industry, experienced a slight decline. Other cryptocurrencies exhibited mixed reactions, underlining the importance of analyzing specific market trends and sentiments that affect various assets differently. The global market cap serves as a key metric, indicating investor confidence and overall market health.

In summary, December 3, 2023, marked significant movements in the cryptocurrency market with Bitcoin seeing fluctuations within the $95,000 to $98,000 range. IOTA standout as a day’s top performer while several other altcoins presented both gains and losses. With the global market cap showing slight growth, trader sentiment continues to fluctuate amid market consolidations. As investors await triggers for potential rallies, attention to futures and options markets reveals an underlying cautious optimism as institutional interest remains robust.

Original Source: news.abplive.com

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