Price analysis 11/12: BTC, ETH, BNB, ADA, SOL, XRP, DOT, DOGE, SHIB, LUNA

Price analysis 11/12: BTC, ETH, BNB, ADA, SOL, XRP, DOT, DOGE, SHIB, LUNA


Bitcoin (BTC) price continues to weaken following the shakeout of the leveraged traders in the derivatives markets on Nov. 10. This caused the derivative funding rates to drop to the neutral territory of 0.01% across exchanges.

Data analysis firm Arcane Research said in its latest weekly newsletter that the derivatives markets had matured compared to the run to the previous all-time high in April. The firm highlighted that the futures’ basis, the difference between Bitcoin’s spot price and futures price, which was at elevated levels in April have dropped much lower, “indicating a healthier market.”

Daily cryptocurrency market performance. Source: Coin360

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According to Bloomberg senior ETF analyst Eric Balchunas, the ProShares Bitcoin futures exchange-traded fund (ETF) has soared in popularity, with its average volume placing it among the

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