What Happened in Crypto Today: Bitcoin Hits $89K, Dogecoin Surges

Crypto Market Soars: Bitcoin Hits Record High, Dogecoin Rallies, and Major Developments Shake the Industry

The cryptocurrency market is seeing a remarkable surge today, headlined by Bitcoin’s (BTC) all-time high, a significant rally in Dogecoin (DOGE), a high-profile robbery in Thailand, and new financial products driving altcoin momentum. Here’s what happened in crypto today:

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Bitcoin’s Historic High Following Trump’s Reelection

Bitcoin surged to an unprecedented $89,604.50, setting a new record just days after Donald Trump’s reelection. This meteoric rise brought Bitcoin’s market cap to a staggering $1.74 trillion, up nearly 30% over the past week. The increase not only marks Bitcoin’s highest valuation to date but also positions it above silver’s global market cap, highlighting the growing interest in cryptocurrency as an asset class.

This rally has captured significant attention from both institutional and retail investors. Market analysts are signaling that Bitcoin could sustain its upward trajectory. Technical indicators show that the cryptocurrency remains in a bullish pattern, with heightened buyer enthusiasm and robust trading volumes. As of the latest update, Bitcoin is trading at $87,561.84, holding a market cap of $1.73 trillion, with a 24-hour trading volume of $155.22 billion, underscoring the asset’s liquidity and market reach.

Dogecoin Sees 40% Surge Amidst Strong Buying Sentiment

Dogecoin, the meme-inspired cryptocurrency, also saw a dramatic 40% jump in value in the past 24 hours, trading at $0.3955 with a market cap of $58.37 billion. This surge was fueled by substantial buying momentum on the TON Network. Notably, DOGE has broken through key resistance levels and is now trading above the 0.618 Fibonacci retracement level, signaling that its upward movement could continue with the potential to hit $0.0015458.

On-chain metrics support Dogecoin’s rally, with the “In the Money” indicator rising by 9.79%, indicating an increase in profitability for current token holders. Despite some minor market corrections and liquidation events, DOGE appears to be on a strong upward trend. The 24-hour trading volume stands at $35.62 billion, reflecting continued interest and active trading in this altcoin.

Aptos Gains 20% as Bitwise Announces World’s First Staking ETP

In another positive development, Aptos (APT) rose by 20%, reaching a price of $12.9 after Bitwise Asset Management revealed the launch of the first-ever Aptos Staking Exchange-Traded Product (ETP) on Switzerland’s SIX Exchange. The product, debuting on November 19, will offer investors staking rewards of around 4.7% after fees. The ETP launch aligns with Bitwise’s efforts to attract both institutional and retail investors, reflecting growing global interest in cryptocurrency investment products.

With Aptos trading at $12.29, holding a market cap of $6.40 billion and a daily trading volume of $1.75 billion, the new staking product is expected to introduce a steady flow of interest and new investment into the platform. This development positions Aptos as a competitor in the staking space, attracting attention from investors seeking passive income in digital assets.

Violent Crypto Heist in Thailand Highlights Security Concerns

In a distressing incident, a Ukrainian cryptocurrency trader in Thailand was targeted in a violent heist where he was forced to transfer $250,000 in Tether (USDT) to his attackers. Thai authorities have already detained four suspects, one of whom was reportedly a regular acquaintance of the victim, suggesting that the crime was premeditated and possibly based on insider knowledge.

This incident highlights the emerging risk of physical crime in the cryptocurrency space, where attackers target high-value individuals. As cryptocurrency grows in value and adoption, security concerns around personal safety and asset protection have become more prominent. Cases like this one demonstrate the need for increased awareness and precautions among crypto holders.

Bitget Relaunches in the UK Market with Full Regulatory Compliance

Meanwhile, Bitget, a prominent cryptocurrency exchange, has officially re-entered the UK market after a temporary suspension earlier this year. In partnership with Archax, a regulated custodian in the UK, Bitget is now compliant with the UK’s Financial Promotions Regime, allowing it to offer trading and custody services to a wide range of clients. This development comes as Bitget implements stricter token listing criteria to safeguard users from high-risk projects and bolster investor protection.

Bitget’s return to the UK market signals a commitment to regulatory alignment and safety, as exchanges adapt to new regulations worldwide. This re-entry follows similar moves by other platforms to align with the UK’s evolving regulatory landscape, as the nation moves towards establishing a comprehensive framework for digital assets.

What’s Behind the Crypto Market’s Rally?

Today’s surge in the cryptocurrency market is fueled by a series of landmark events: Bitcoin’s record-breaking price rise, Dogecoin’s strong rally, the launch of the first Aptos Staking ETP, a notable security incident in Thailand, and Bitget’s return to the UK. Together, these events demonstrate a growing investor appetite for digital assets and increased legitimacy as major financial institutions and regulators take a more active role in the sector.

As Bitcoin and other major cryptocurrencies continue to reach new highs, analysts are closely watching for further signals of sustained growth, driven by a combination of macroeconomic factors, institutional adoption, and evolving regulatory frameworks. With the cryptocurrency market showing both volatility and resilience, today’s developments may well mark another turning point in the ongoing rise of digital currencies.

Source: CryptoNews

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Writer @Erlin

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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