Bitcoin falls below $93,000, Ethereum rally continues… US stock market opens higher

Source: BlockMedia Original Title: [New York Coin Market/Opening] Bitcoin falls below $93,000… Ethereum continues upward trend Original Link: https://www.blockmedia.co.kr/archives/1015234

New jobless claims hit 3-year low… US stock market opens higher

On the 4th, the US Department of Labor announced that the number of new jobless claims for the week of November 23–29 was 191,000. This figure is lower than the market expectation of 220,000 and is the lowest since September 2022. The number of continuing jobless claims was 1,939,000, a decrease of 4,000 from the previous week. Although volatility is high due to the inclusion of the Thanksgiving holiday, this is interpreted as a signal that the transition to unemployment is not significantly increasing.

As of 9:40 AM[image]Eastern Time(, the three major indices on the New York Stock Exchange)NYSE( opened higher. The Dow Jones index was reported at 47,933.45, up 50.55 points)0.11%( from the previous trading day. The Nasdaq index was at 23,474.54, up 20.45 points)0.09%(. The S&P 500 index also showed a strong trend at 6,860.47, up 10.75 points)0.16%(. The price of gold rose 0.11% to $4,237.10 per ounce.

Bitcoin falls below $93,000

The digital asset)virtual asset( market showed mixed trends. Bitcoin, which had stayed in the $93,000 range the previous day, fell slightly and gave up that level.

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According to CoinMarketCap, Bitcoin was trading at $92,637, down 0.05% in the past 24 hours. Ethereum)ETH( rose 3.16% daily to $3,178.

Among the top 10 digital assets, XRP)XRP( was the only one to drop, falling 1.50%. Binance Coin)BNB( and Solana)SOL( rose 1.28% and 1.16%, respectively. Tron)TRON( was up 1.20%, and Dogecoin)DOGE( gained 0.58%. Cardano)ADA( saw the largest increase at 2.67%.

The digital asset market capitalization increased by 0.91% daily to $3.15 trillion. Bitcoin dominance decreased by 0.3 percentage points to 58.6% from the previous day. Ethereum dominance increased by 0.5 percentage points to 12.2%.

Trading volume and liquidation amount decrease… Ethereum short liquidations concentrated

According to Coinglass, total digital asset trading volume over the past 24 hours fell by 19.65%. Open interest)OI(, the balance of contracts not yet liquidated, increased by 1.19%.

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The total liquidation amount was $274.21 million, a 46.32% decrease from the previous day. Ethereum liquidations were $119.49 million, surpassing Bitcoin’s $74.22 million. Of Ethereum’s liquidations, 82% were concentrated in short positions. For Bitcoin, the long/short liquidation ratio was 38%/62%.

According to CryptoQuant, Bitcoin’s MVRV ratio was 1.6422, up 0.47% from 24 hours ago. An MVRV below 1 indicates a bottom, while above 3.7 indicates a peak. Bitcoin’s funding rate was 0.003905, indicating similar levels of buying and selling sentiment.