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Daily Crypto News Nov 27, 2021: Black Friday turns red

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While investors were still recovering from the sudden market corrections by Bitcoin, Friday saw another major price movement by Bitcoin and other cryptocurrencies. Amid the intense volatility, data predicts Bitcoin to move towards $54000 due to major selling pressure faced by Holders. This was the latest attempt to overcome the resistance to move back to the $60000 zone, however, all went in vain. Read below on why BTC hit the lowest in the past 6 weeks and what it means for holders. 

While the common investors are still trying to decipher the Bitcoin movement, Bitcoin whales have already started to stack up their bags say, experts. Despite undergoing several corrections, the big investors are still bullish on Bitcoin and are on a buying spree for future purposes. Analysts believe that Bitcoin is moving to stronger hands amid all the chaos. Read more on this below. 

As the discount Friday kicks off, cryptocurrency along with other investments assets such as stocks see a sharp fall in their prices. Analysts mocked the name of the event and called it Red Friday due to the color of the charts. Experts believe that another reason for this sell-off is due to the fears around the new covid strain. Read more about this in detail below. 

Before we deep dive into the hottest topics around the crypto space, let’s head to the top 3 losers and gainers for the day.

Crypto Market Trend  November 27, 2021 

Top 3 Crypto Gainers 

Cryptocurrency  Price (latest by November 27, 2021)  Change in % 
Siacoin (SC) ₹2.16 17.42%
The Graph (GRT) ₹81.11 8.81%
Civic (CVC) ₹46.51 6.64%

*Prices are latest by 10:30 AM, November 27,2021.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by November 27,  2021)  Change in % 
THORChain (RUNE) ₹902.36 13.64%
Basic Attention Token (BAT) ₹116.75 9.34%
Chromia (CHR) ₹81.50 8.71%

*Prices are latest by 10:30 AM, November 27,2021.*

Daily Crypto News  Nov 27, 2021

Bitcoin hits 6-week low within hours as 24 Hr crypto liquidations near $650 Million 

Amid intense volatility, data shows that BTC/USD is headed towards $54000. Holders faced major selling pressure after pulling back to $60000 last Thursday. This was the latest attempt to overcome resistance however, it was an unfortunate retreat. Just a few hours later, Bitcoin was at its lowest since mid-October. It firmly vindicated those who believed that the current break from the bullish upside was not over yet. Read more on what the crypto experts have to say about Bitcoin hitting 6 weeks low and what it means for the Holders. 

Source: Cointelegraph

Bitcoin supply moving into strong hands midst BTC On-chain analysis going mainstream 

After hitting its all-time high in November, Bitcoin has undergone several retracements and price corrections. It even fell below the psychological price of $60K. However, this correction has not broken down the spines of the big investors and holders who are storing more and more Bitcoin for future purposes. 

According to market analyst Will Clemente, the past two weeks have shown clear bullish divergence between price and BTC moving to strong hands. Bitcoin whales have also been a part of this spree. Read more on how Bitcoin is moving to stronger hands amidst all the price corrections and what future steps should small-time investors take accordingly. 

Source: Blockchain News

Black Friday crypto price crash wipes Billions from BTC, BNB, SOL, ETH, XRP, ADA, and DOGE.

After we saw the local price crash in India due to the rumor around the crypto ban, a global price crash took place on Black Friday evening. The prices of Bitcoin and other cryptocurrencies have fallen sharply as the discount shopping event of Black Friday kicked off. Even stock markets around the world have sharply fallen. 

The big investment giants have renamed Black Friday as Red Friday after the sharp fall in prices across all the investment instruments. This is also due to the fear around a new Covid Strain, say experts. The broad crypto sell-off wiped around $200 billion from the combined crypto market since the beginning of the week. Read more on the Black Friday crypto crash and the factors behind it. 

Source: Forbes 

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