Crypto Market Cap Rises to $3.44trn as Bitcoin, Ethereum Rebound
The global crypto market capitalisation rose 3% over the last 24 hours to about $3.44 trillion, according to data from CoinMarketCap.com.
The market rebounded from a 7-day decline when it yanked off 6.93% of the valuation of listed digital assets as sector-specific catalysts offset broader caution.
The market surged as New AI tools and institutional inflows boosted. Sentiment. Capital rotated into high-beta sectors despite Bitcoin’s stagnation. The Altcoin Season Index (28) remains low, but selective narratives thrived.
The market now watches for Sustainability of AI/DeFi volume and Bitcoin’s ability to hold $100K support. The crypto market cap reclaimed its pivot point of $3.44 trillion with RSI14 at 34.65 (neutral).
Perpetual open interest rose 7.62%, while funding rates turned positive (+0.0033%), suggesting leveraged longs re-entered. Altcoins are lagging Bitcoin. Altcoin Season Index reading of 28/100. Bitcoin continues to absorb market liquidity, leaving most alts struggling for momentum.
The Altcoin Season Index has decreased by 15.15% over the past week and 45.1% over the past month. That’s a significant drop, indicating a move away from altcoins.
Bitcoin’s dominance has increased from 58.26% a month ago to 59.13% now. Bitcoin spot ETFs saw $558 million in net outflows on November 7, the largest single-day withdrawal since October.
This drained liquidity from altcoins, with ETH and BNB dropping -12.17% and -8.91% weekly, suggesting that macro uncertainty and ETF dynamics are suppressing altcoin demand.
Trading data showed that Bitcoin hovered around $102, up by .15% on the day, while Ethereum was trading at $3402 at the same time, up by 5%, recovering from sell pressure.
XRP has gained 4.4% on the day, trading at $2.28. BNB has gained about 6% to $991.36. Solana is up by 4.10% to $158 while Dogecoin appreciated by 9% to $0.1765. GCR Keeps FBNQuest Merchant Bank Outlook on Rating Watch Negative
