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Bitcoin (BTC) and most major altcoins sold off along with global equity markets and crude oil on Nov. 26. The markets were roiled on news of a new coronavirus variant detected in South Africa that is worrying scientists due to its large number of mutations in the spike protein. The sharp fall has resulted in cross-crypto liquidations of over $750 million over the 24-hour period but the funding rates across exchanges remain elevated. This suggests that the selling may not be over yet. Daily cryptocurrency market performance. Source: Coin360 Bitcoin’s monthly close for November is most likely not going to hit analyst PlanB’s worst-case scenario of $98,000. This will be the first miss after the model had accurately predicted the end-of-month price levels for August, September and October. How...

Salvadoran President Nayib Bukele bought the dip again, investing more than $5 million into Bitcoin as the price dropped under $54,000 Friday. In a Friday tweet, El Salvador’s president said he had purchased 100 Bitcoin (BTC) following a global market sell-off in response to a new COVID-19 variant discovered in South Africa. According to data from Cointelegraph Markets Pro, since reaching an all-time price of $69,000 on Nov. 10, Bitcoin has fallen more than 20% to reach $54,343 at the time of publication, an 8% drop in less than 24 hours. El Salvador just bought the dip. 100 extra coins acquired with a discount #Bitcoin  — Nayib Bukele (@nayibbukele) November 26, 2021 Bukele first announced El Salvador would be making a major BTC purchase on the eve of the country’s Bitcoin Law ...

Crypto exchange Deribit is the absolute leader in the Bitcoin (BTC) options markets, and on Nov. 24, the 25% delta skew indicator signaled that sentiment among pro traders was becoming “more bearish overall.” We’ve seen 25-Delta put skew moved from around 0% to almost 10-15% pending time to expiry since beginning of Nov implying a more bearish overall sentiment. Premiums for downward protection are getting more expensive.In the short term, this expiry has a Max pain of $58k. https://t.co/jhpT1riX3g — Deribit (@DeribitExchange) November 24, 2021 Bitcoin price appears to following a descending channel since Nov. 9, so a “bearish” signal might be a reflection of the 22% drop since the $69,000 all-time high. Bitcoin/USD price on Bitstamp. Source: TradingView The 25% delta skew compares c...

Founded in 2017, OKEx is a centralized cryptocurrency exchange based in Seychelles. According to CoinGecko, OKEx is the world’s third-largest cryptocurrency brokerage, with nearly $12 billion in trading volume within the past 24 hours. The exchange lists 312 coins and 518 cryptocurrency trading pairs. It’s often difficult for new cryptocurrency enthusiasts to navigate the complex world of trading and finance. OKEx seeks to bring such sophisticated trading methods to everyday users’ disposal by providing a simple interface. During an exclusive ask me anything (AMA) session with Cointelegraph Markets Pro Users, OKEx staff discussed trading tools, financial regulation, the OKExChain (OEC) blockchain, meme coins, and DeFi offerings on the OKEx platform. Cointelegraph Markets ...

Bank of England governor Andrew Bailey has expressed concerns over El Salvador’s adoption of Bitcoin (BTC) as legal tender after President Nayib Bukele announced the launch of Bitcoin City. Bailey argued that ​​El Salvador’s decision to adopt Bitcoin as a currency was alarming because consumers are likely to suffer from the cryptocurrency’s extreme volatility. Trading around $43,000 on the first day of El Salvador’s Bitcoin adoption as legal tender, Bitcoin surged to a new historical high above $68,000 on Nov. 9. BTC’s price has significantly tumbled since then, with Bitcoin trading at $54,626 at the time of writing. Bitcoin 90-day price chart. Source: CoinGecko “It concerns me that a country would choose it as its national currency,” Bailey said at the Cambridge University student un...

Basic Attention Token (BAT) rallied to a new record high on Nov. 26 even as global markets plunged in tandem on fears about a highly mutated variant of Covid19 detected in South Africa. BAT’s price surged over 30% on Friday to reach $1.88 for the first time in history, with its market capitalization rising to $2.74 billion. Its climb appeared in contrast to the cryptocurrency market that lost up to nearly $283 billion in the same period. BAT market capitalization. Source: CoinMarketCap BAT snubs crypto crash Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, led the losses by falling by as much as 7.5% to under $54,000. Ether (ETH), the second-largest crypto, dropped over 9% to almost $4,000. Solana (SOL), Cardano (ADA), XRP, Binance Coin (BNB), an...

At least one out of four cryptocurrency investors in Japan had an experience of holding nonfungible tokens (NFTs), according to a new survey. Major Japanese crypto exchange BitBank conducted an online survey diving into the NFT investment trends in the Japanese cryptocurrency market. Releasing the survey results on Nov. 25, BitBank said that it polled 2,061 cryptocurrency users within a period from Oct. 26 to Nov. 1, 2021. The respondents included clients of BitBank as well as crypto holders polled randomly via Twitter, a spokesperson for the firm told Cointelegraph. The survey results suggest that as many as 26% of Japanese crypto investors have tried out holding NFTs so far, with a majority of NFT investors being represented by younger generations aged between 20 and 40. For most respond...

Bitcoin (BTC) stemmed losses as Wall St. opened on Nov. 26 after concern over a new Coronavirus variant spark a global market sell-off. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Pfizer gains as Coronavirus panic sets in Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ending its downturn at just above $53,500 on Bitstamp. The pair then added almost $1,500 as some sense of equilibrium returned to crypto markets, trading around around $54,400 at the time of writing. Both crypto and traditional assets were rattled on the day thanks to the proliferation of a new Coronavirus variant, designated “Nu,” which some parties claim could pose a problem for vaccine programs. Pfizer (PFE), one of the major producers of Coronavirus vaccines, conspicuou...

A transaction on the Solana network takes less energy than two Google searches, and 24 times less energy than charging your phone, according to a Nov. 25 report by the Solana Foundation. The report states that a single transaction on its network uses 0.00051 kWh, or 1,836 Joules, of energy. According to Google, an average search uses 0.0003 kWh or 1,080 Joules of energy. Perhaps more surprisingly, the report claims the entire Solana network uses an estimated 3,186,000 kWh per year, which is equivalent to the average electricity usage of 986 American households. In May, the Solana Foundation contracted Robert Murphy to write the report in order to “frame the environmental impact” of transactions on the Solana network. Murphy is the founder of Othersphere and was formerly an Energy Specialis...

A push in Thailand to boost gross domestic product (GPD) by targeting crypto digital nomads is coming closer to fruition according to local media. The Tourism Authority of Thailand (TAT) has been looking into launching its own utility token called TAT Coin since September as part of a planned “cryptourism” campaign. The initiative aims to attract crypto wealthy digital nomads and the TAT has been in discussions with the Stock Exchange of Thailand regarding TAT Coin’s issuance. According to a Nov. 24 report from the Bangkok Post, the infrastructure behind the TAT Coin is “ready” to go and is now awaiting the green light from the Thai government. Speaking at the “Transform tourism with cryptourism” conference on Tuesday, Jirayut Srupsrisopa the founder and CEO of local crypto exc...