21Shares Unleashes 2x Dogecoin ETF as FalconX Deal Closes

CryptoQuant has reported that recent Bitcoin market downturns have been primarily driven by selling from US investors. The analysis highlights the 'Coinbase Premium Gap,' which indicates that Bitcoin is trading at lower prices on Coinbase compared to Binance, suggesting a significant selloff by American investors, particularly institutional ones.

Dogecoin has experienced a significant decline, dropping below the $0.1550 mark against the US Dollar. The cryptocurrency is consolidating losses and may encounter resistance near $0.1560. Following a drop below the $0.150 level, Dogecoin's price has shown bearish trends, with a low recorded at approximately $0.1448. This decline mirrors the broader bearish sentiment affecting major cryptocurrencies like Bitcoin and Ethereum.

Coinbase has launched a new loan option allowing eligible users to borrow up to $1 million in USDC by using their ETH as collateral. This feature operates through the on-chain lending protocol Morpho on Base, enhancing Coinbase's portfolio of crypto-collateral products.

Bitcoin is facing significant selling pressure as it struggles to regain higher levels, with analysts suggesting it may have entered the early stages of a bear market. The price has dropped below critical support zones, leading to a divide in market sentiment. MARA Holdings has offloaded 644 Bitcoin, impacting platforms FalconX and Coinbase Prime, with a total loss of $58.7 million.

Dogecoin is currently experiencing significant price action, having dropped into the lower 5% of its long-term trading channel, a region that has historically preceded substantial rallies. The recent bearish pressure, triggered by a Tenkan-sen cross, raises questions about whether Dogecoin will rebound or continue its downward trend. Analysts suggest that this critical juncture could serve as a launchpad for a potential recovery.

The Dogecoin price has been in a downward trend, dropping from the mid-$0.18 range to lower levels. Technical analysis indicates that after reaching a high of $0.18311, the price entered a descending channel, with each upward attempt failing to sustain momentum. Analysts suggest that Dogecoin needs to break above certain resistance levels for a significant rally to occur.

November has brought a significant downturn for Bitcoin (BTC), which previously reached an all-time high of $126,000 in October. The cryptocurrency has since dropped sharply, leading analysts to speculate that BTC may stabilize within the $60,000 to $80,000 range if the Federal Reserve maintains current interest rates.

21Shares, a prominent crypto ETF issuer with $8 billion in assets, has expanded its offerings in Europe by listing six new cryptocurrency exchange-traded products (ETPs), including Aave and Chainlink. This move comes as the market sees a surge in new crypto ETFs in the US, reflecting growing investor interest in digital assets.