Model Shows How XRP Could Hit $24 After ETFs Go Live

Bitcoin has rebounded to nearly $94,000 after experiencing a dip below $90,000, showcasing the ongoing volatility and rapid price fluctuations in the cryptocurrency market. This rebound follows a period of significant concern among investors as Bitcoin's price had fallen below the critical $90,000 mark for the first time in seven months, raising fears of further declines.

Hive Digital's stock surged over 500% from its April low to its October high, reflecting a strategic pivot towards AI and high-performance computing (HPC) industries. Despite a recent 53% decline mirroring Bitcoin's retreat, the company continues to report strong revenue from Bitcoin mining, indicating resilience in its core operations.

MicroStrategy, a publicly traded business intelligence firm, is under scrutiny as economist Peter Schiff criticizes its heavy investment in Bitcoin. With Bitcoin's price dropping below critical thresholds, Schiff argues that the company's financial model is flawed and unsustainable, warning of a potential 'death spiral' for MicroStrategy's Bitcoin strategy.

In a recent interview with Cointelegraph, Mark Yusko discussed the indicators suggesting a Bitcoin bear market, highlighting the challenges that lie ahead for the cryptocurrency. He emphasized the significance of market trends and investor sentiment in shaping Bitcoin's future trajectory.

Bitcoin's price experienced a brief dip below $90,000 before rebounding to approximately $94,000, nearing its weekly high. Over 19.95 million BTC have been mined, representing over 95% of its total supply of 21 million. This fluctuation in price reflects ongoing volatility in the cryptocurrency market, which has seen significant trading activity recently.

Bitcoin experienced a notable gain on Tuesday, outperforming traditional markets in a rare occurrence. This positive movement comes amid a broader slump in conventional financial sectors, highlighting Bitcoin's resilience and potential as an alternative asset. The cryptocurrency's performance has sparked interest among investors, suggesting a shift in market dynamics as Bitcoin continues to carve out its place in the financial landscape.

According to a StanChart analyst, the recent Bitcoin sell-off is likely complete, suggesting that a rally into the year-end remains a possibility. The analyst notes that the market has experienced significant volatility, with Bitcoin's price fluctuating around $91,000 after dipping below $90,000 for the first time in seven months. This situation has raised concerns among investors, but the analyst remains optimistic about potential recovery as market conditions stabilize.

Recent data indicates that XRP is facing significant selling pressure, with approximately 41.5% of its supply, equating to nearly 27 billion tokens, currently at a loss. This marks the lowest profitability level since November 2024. Analysts suggest that many holders purchased XRP at prices above current levels, leading to substantial unrealized losses following a steep decline from its July peak of $3.65. The situation raises concerns about potential further declines if investors choose to sell off their holdings.