Crypto Price Analysis 11-19: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, INTERNET COMPUTER: ICP, OPTIMISM: OP

The cryptocurrency market experienced a broad rebound over the past 24 hours, with major tokens returning to positive territory. According to data from CoinMarketCap, Bitcoin (BTC) has reclaimed $90,000 after falling to a low of $89,368 on Tuesday. 

The flagship cryptocurrency rallied as positive sentiment returned, reaching an intraday high of $93,688 before losing momentum again and falling to $90,013 on Wednesday. BTC is up 1.50% over the past 24 hours, trading around $90,850. 

Meanwhile, Ethereum (ETH) has reclaimed $3,000 thanks to a strong recovery from Tuesday’s low of $2,973. The altcoin reached an intraday high of $3,163 early on Wednesday before dropping to a low of $2,997. ETH is up over 2% in the past 24 hours, trading around $3,041. Ripple (XRP) is marginally up while Solana (SOL) is up almost 3%, trading around $139. Dogecoin (DOGE) is up nearly 1% but Cardano (ADA) is marginally down, trading around $0.461. Chainlink (LINK), Stellar (XLM), and Hedera (HBAR) have also registered notable increases. However, Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) remain in the red. 

ARK Invest Picks Up $10M In Bullish (BLSH) Shares 

Cathie Wood’s ARK Invest has purchased $10.2 million in Bullish (BLSH) shares as crypto-linked stocks plummeted. ARK Investment spread the investment across its flagship ETFs, ARKK, ARKW, and ARKF, as Bullish’s stocks crashed 4.5% to $36.75. The purchase came a day after Bullish published its Q3 earnings report, where the exchange posted weaker revenue but stronger profits. The timing of the purchase indicates that ARK Invest retains confidence in a strong rebound. 

Senator Tim Scott Pushes For a Vote On Crypto Market Bill 

Senate Banking Committee Chair Tim Scott is looking to mark up a crypto market structure bill as early as next month and have it on President Trump’s desk by early next year. Scott stated during an interview that the committee has started negotiations with the Democrats to reach a deal. However, he also accused senators of stalling a potential deal. 

“Next month, we believe we can mark up in both committees and get this to the floor of the Senate early next year so that President Trump will sign the legislation making America the crypto capital of the world.”

The House passed the CLARITY Act in July, outlining the roles of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in regulating crypto. Meanwhile, the Senate is working on its own version of the bill. Republicans on the Senate Banking Committee released a draft discussion on their version of the bill in July, while the Senate Agricultural Committee released its draft discussion on November 10. Coinbase CEO Brian Armstrong noted that there has been substantial progress regarding the bill, stating, 

“Senate banking is also working nights and weekends to get the next iteration of their text out, so we’ve got a good chance, I think, of a markup for this bill in December, hopefully get it to the president’s desk shortly thereafter. This would be a big milestone to get crypto unlocked with clear rules in the US, which would benefit all companies.”

Kraken Secures $800M In Funding At $20B Valuation 

Kraken has completed an $800 million funding round, valuing the exchange at $20 billion. The exchange plans to use the funding to support its global expansion. Kraken revealed that it raised the funds across two tranches, with the second tranche including a $200 million strategic investment from Citadel Securities. The funding round also includes a strategic partnership with Citadel. The partnership will allow Kraken to leverage Citadel’s expertise on differentiated liquidity provision, risk management, and market structure insights. The primary funding includes backing from Jane Street, DRW Venture Capital, HSG, and Tribe Capital, and a significant commitment from the family office of Kraken co-CEO Arjun Sethi. 

“With this additional capital, we will continue scaling our global operations, deepening our regulated footprint, and expanding our product suite, both organically and through targeted acquisitions.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) is struggling to regain momentum after slipping below $90,000 on Tuesday. The flagship cryptocurrency started the week in the red, dropping over 2% and settling at $92,100. Selling pressure intensified on Tuesday as BTC fell to an intraday low of $89,183. However, it rebounded to reclaim $90,000 and settled at $92,914. BTC is back in bearish territory during the ongoing session, down 1.16% at $91,845. 

BTC continues to face pressure around $92,000, with the $90,000 level being tested repeatedly. Analysts believe BTC and the broader crypto market could remain under pressure ahead of the upcoming US Federal Reserve interest rate decision on December 10. Experts are divided about the direction of monetary policy, with concerns around inflation and a slowing economy persisting. Experts are also divided between a 0,25% rate cut or leaving them unchanged at 4%. More fiscally conservative Federal Reserve members argue that President Trump’s changing stance on tariffs has added inflationary pressure, reducing room to cut rates and support growth. The US job market is also showing signs of cooling. Federal Reserve members have consistently flagged concerns about inflation. Fed governor Christopher Wallace stated on Monday, 

“I worry that restrictive monetary policy is weighing on the economy, especially about how it is affecting lower-and middle-income consumers.”

However, analysts don’t blame BTC’s ongoing weakness on the Fed, largely because the downtrend began in early October, due to import tariffs helping narrow the government deficit. The Fed’s balance sheet shrank, strengthening the dollar against major currencies. Analysts believe pinpointing the exact cause of BTC’s downtrend is impossible. Overall financial conditions nosedived as freight activity slowed, housing markets softened, and cash flows tightened. 

Analysts believe BTC will rebound strongly as the overall liquidity situation improves. Most market watchers expect an improvement in the economic outlook in 2026. Currently, weaknesses are obvious in the real estate and auto sectors, putting substantial pressure on regional banks. 

BTC ended the previous weekend in positive territory, rising over 2% and settling at $104,694. The price continued pushing higher on Monday, rising 1.23% to cross $105,000 and settle at $105,979. BTC reached an intraday high of $107,482 on Tuesday. However, it lost momentum as bear market conditions set in. As a result, it fell nearly 3% and settled at $103,009. Sellers retained control on Wednesday as the price fell 1.33% to $101,639. BTC faced substantial selling pressure and volatility on Thursday. As a result, it slipped below the crucial $100,000 mark, falling to a low of $97,870 before settling at $99,614. Selling pressure intensified on Friday as the price plunged over 5%, falling to a low of $93,951 before settling at $94,503.

Source: TradingView

Despite the overwhelming selling pressure, BTC recovered on Saturday, rising 1.10% to reclaim $95,000 and settling at $95,544. Selling pressure returned on Sunday as BTC fell to a low of $92,943 before settling at $94,183, ultimately dropping 1.42%. Bearish sentiment persisted on Monday as the price fell by over 2% and settled at $92,100. Selling pressure intensified on Tuesday as BTC slipped below $90,000, falling to an intraday low of 89,183. However, it rebounded from this level to reclaim $90,000 and settle at $92,914, ultimately rising nearly 1%. Selling pressure has returned during the ongoing session, with the price down over 2% at $91,025. 

Ethereum (ETH) Price Analysis 

Ethereum’s (ETH) bounce has fizzled out during the ongoing session, with the price back in bearish territory. The altcoin ended the weekend in the red, with selling pressure intensifying on Monday as the price fell to a low of $2,960 before settling at $3,029. ETH fell to an intraday low of $2,950 on Tuesday before rebounding to reclaim $3,000 and moving to $3,126. The price is back in the red during the ongoing session, down 1.70% at $3,071. 

ETH is down nearly 20% in November and is retesting $3,000, a level last seen in July. The drop has pushed the altcoin into a well-defined downtrend marked with lower highs and lower lows. This puts the price in a fragile zone despite long-term accumulation signals emerging. Capriole Investment’s Mayer Multiple (MM), a metric that measures the ratio between ETH’s current price and its 200-day SMA, fell below 1, indicating that the altcoin is trading at a discount to its long-term trend and has historically aligned with major accumulation zones. Readings below 1 have typically indicated long-term bottoms, with the primary exception being January 2022, when the metric was suppressed due to a bear market. 

Analysts believe ETH’s short-term price action remains vulnerable. Data from Hyblock Capital shows that ETH is sitting above several dense liquidation clusters even after sweeping the key $3,000 zone, hinting that the market may need a deeper liquidity flush before it forms a solid base. 

“We’ve swept quite a few large (bright) long liq clusters. The next two below on ETH are $2,904 to $2,916 and $2,760 to $2,772.”

ETH ended the previous weekend in positive territory, rising over 5% and settling at $3,583. It faced selling pressure and volatility on Monday before registering a marginal decline and settling at $3,567. Bearish sentiment intensified on Tuesday as the price fell over 4%, slipping below $3,500 to $3,417. ETH reached an intraday high of $3,586 on Wednesday. However, it lost momentum after reaching this level and settled at $3,414, ultimately registering a marginal decline. Bearish sentiment intensified on Thursday as ETH fell 5.34% to $3,231. Sellers retained control on Friday as the price fell nearly 4% and settled at $3,111.

Source: TradingView

ETH recovered on Saturday despite the overwhelming selling pressure, rising 1.78% to $3,167. Price action returned to bearish territory on Sunday as ETH fell 2.20% to a low of $3,009 before settling at $3,097. The price reached an intraday high of $3,220 on Monday. However, it lost momentum after reaching this level and settled at $3,029, ultimately dropping over 2%. ETH fell to an intraday low of $2,950 on Tuesday as selling pressure intensified. However, it rebounded from this level to reclaim $3,000 and settle at $3,125, ultimately rising over 3%. Selling pressure has returned during the ongoing session, with the price down 1.58% at $3,075.

Solana (SOL) Price Analysis

Solana (SOL) started the week with a sharp drop of 4.55% and settled at $130. The price recovered on Tuesday, rising over 7% to reclaim $140. However, it returned to bearish territory during the ongoing session, with the price down nearly 1% at $139.

SOL’s recovery could be hindered by a $250 million transfer from the FORD wallet to Coinbase. The move comes as Forward Industries struggles with unrealized losses of $677 million on its SOL bet. Market watchers have interpreted the move as a move to minimize further losses. Forward Industries has struggled as SOL’s value fell, despite efforts to maximize shareholder value through on-chain activities like lending, staking, and DeFi participation. However, shortly after the transfer, $21 million was sent back from the Coinbase hot wallet.

SOL ended the previous weekend in positive territory, rising over 4% to $164. Buyers retained control on Monday as the price rose 1.66% and settled at $167. However, selling pressure returned on Tuesday as SOL plunged nearly 8% to $154. Sellers retained control on Wednesday as the price fell 0.78% and settled at $153. Buyers attempted a recovery on Thursday as SOL reached an intraday high of $157 before losing momentum and settling at $144, ultimately dropping 5.67%. SOL’s downtrend continued on Friday as it fell 4% and settled at $138.

Source: TradingView

Price action was mixed over the weekend as SOL registered a marginal increase on Saturday before dropping 1.66% on Sunday and settling at $137. Selling pressure intensified on Monday as SOL fell 4.55% and settled at $130. SOL made a strong recovery on Tuesday, rising over 7% and settling at $140. However, it has lost momentum during the ongoing session, down nearly 1% at $139.

Internet Computer (ICP) Price Analysis

Internet Computer (ICP) ended the previous weekend in the red, dropping nearly 16% to $7.56. Sellers retained control on Monday as the price fell by over 10% and settled at $6.79. Selling pressure intensified on Tuesday as ICP fell nearly 12% to $5.98. Despite the overwhelming selling pressure, the price recovered on Wednesday, rising 6.52% and settling at $6.37. ICP surged to an intraday high of $6.67 on Thursday before losing momentum and settling at $5.85, ultimately dropping over 8%. Selling pressure persisted on Friday as the price fell by over 8% to $5.38.

Source: TradingView

Price action remained bearish over the weekend as ICP fell 1.86% on Saturday and 9% on Sunday to settle at $4.79. The price recovered on Monday, rising over 15% to $5.51. However, it returned to bearish territory on Tuesday, dropping over 7% and settling at $5.10. ICP is down 1.57% during the ongoing session, trading around $5.02.

Optimism (OP) Price Analysis

Optimism (OP) ended the previous weekend in positive territory, rising 1.18% to $0.428. The price continued pushing higher on Monday, rising nearly 4% and settling at $0.444. However, selling pressure returned on Tuesday as OP fell 8.56% and settled at $0.406. Sellers retained control on Wednesday as the price fell 1.72% and settled at $0.399. OP faced selling pressure and volatility on Thursday as selling pressure intensified. As a result, it fell by over 2% and settled at $0.399. Selling pressure persisted on Friday as the price dropped by over 3% and settled at $0.378.

Source: TradingView

Price action was mixed over the weekend as OP rose 2.91% on Saturday before dropping 1.80% on Sunday to settle at $0.382. Selling pressure intensified on Monday as the price fell 4.45% to $0.365. OP recovered on Tuesday, rising over 4% and settling at $0.380. The price is marginally up during the ongoing session, trading around $0.381.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.