BTC (Bitcoin) has risen 1.20% in the last 24 hours.

Gate News Bot message, November 24, according to CoinMarketCap data, as of the time of writing, BTC (Bitcoin) is currently priced at $86893.78, rising by 1.20% in the last 24 hours, with a maximum of $95928.37 and a minimum drop to $80659.81, with a 24-hour volume of $602.66 billion. The current market capitalization is approximately $1.73 trillion, increasing by $205.09 billion compared to yesterday.

BTC recent important news:

1️⃣ Bitcoin's market capitalization surpasses $1.7 trillion, rising in global asset rankings Bitcoin's market capitalization has rebounded, surpassing $1.7 trillion and reaching $1.72 trillion, exceeding the Vanguard Total Stock Market ETF ($1.703 trillion), and rising to the 8th position in the global asset market capitalization rankings. This indicates that Bitcoin's importance and recognition as an asset class are continuously increasing.

2️⃣ Institutional investors shift hedging strategies, MicroStrategy stock becomes the focus Due to the limited tools available for directly hedging losses in the cryptocurrency market, institutional traders are starting to short MicroStrategy (MSTR) stock as an alternative to hedge against Bitcoin risk. MSTR holds nearly 650,000 BTC, making its stock price closely tied to Bitcoin's performance. This phenomenon reflects the current structural issues in the cryptocurrency market and the evolution of risk management strategies among institutional investors.

3️⃣ Short-term technical indicators show potential rebound signals The Relative Strength Index (RSI) of Bitcoin has entered an extremely oversold region. Historical data shows that in the last two similar situations, the market quickly rebounded. At the same time, some analysts pointed out that BTC has shown a “large turnover and increased volume to stop the decline” structure, which is seen as a typical short-term bottom signal. These technical indicators may suggest that there is a possibility of a short-term rebound in Bitcoin's price after experiencing a recent drop.

From a fundamental perspective, institutional investors still have interest in Bitcoin, primarily viewing it as “digital gold” or a store of value tool, rather than a global payment system. In the short term, the market may continue to experience volatility, and investors need to be prepared.

This message is not an investment advice, and investors should be aware of market volatility risks.