Bitcoin and Altcoins Current Status: Market Analysis (November 8)

The cryptocurrency markets are experiencing volatile days as of November 8. Bitcoin has reached around 102,394 dollars with a %0.4 increase at the time of writing. Against the Turkish lira, it is trading around 4,322,098 TL. This rise has drawn investors' attention back to Bitcoin.

On the other hand, Ethereum increased by %3.1 to 3,451 dollars; BNB rose by %3.1 to 994 dollars; Ripple (XRP) saw a %4.1 increase to 2.31 dollars; and Dogecoin (DOGE) surged by %8.5 to 0.1798 dollars. Solana (SOL) was up by %2.8, trading at 161.59 dollars, while TRON (TRX) increased by %1.7 to 0.2915 dollars. These increases have boosted overall market optimism.

Among the altcoins, the most remarkable performance in the last 24 hours was by Filecoin (FIL), which rose by %46.8 to 3.17 dollars. However, the biggest loser in this period was Zcash (ZEC), which declined by %5.3 to 562.45 dollars. For investors, these fluctuations present both significant opportunities and risks.

Looking at the overall picture of the cryptocurrency market, Bitcoin’s market capitalization is around 2.04 trillion dollars. The total market capitalization of cryptocurrencies is hovering at around 3.54 trillion dollars. Additionally, the 24-hour trading volume was recorded at 227 billion dollars. The dollar index (DXY) remains at 99.60, continuing to provide stability in the markets.

In the last 24 hours, a total of 606 million dollars worth of liquidation transactions took place, affecting more than 240 thousand cryptocurrency investors. Of the liquidated positions, %53.36 were short positions. During this period, the asset with the most liquidations was again Bitcoin. It is important for investors to consider this data and act more cautiously.