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Gate Research: Market Pulls Back Amid Rising Volatility at High Level, Bitcoin Surpasses Silver as 8th Largest Global Asset

2024-11-13 09:41:37 UTC 15246 Lido

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**Gate Research Daily Report (November 13):**Bitcoin (BTC) experienced a short-term price correction after reaching new highs, with increased volatility due to profit-taking. This may lead to a period of consolidation in the market. Investors are increasingly optimistic that Bitcoin will break the $100,000 mark by the year-end, with strong bullish sentiment evident in the options market. Bitcoin has also surpassed silver to become the 8th largest asset globally by market capitalization. On the Ethereum front, Ethereum Foundation researcher Justin Drake proposed a consensus layer upgrade called Beam Chain, designed to improve scalability and performance. Additionally, the Solana Radar Hackathon revealed its winning projects, highlighting the innovative development within the Solana ecosystem.

**Market Analysis**: BTC prices experienced a short-term pullback from recent highs, with profit-taking causing heightened volatility in the near term. The market may enter a consolidation phase going forward.
**Top Performers**: In the past 24 hours, the top-performing altcoins were DOGE, TON, and MVL, with single-day gains of approximately 96.7%, 63.5%, and 43.56%, respectively.
**Data Highlights**: Investors are betting on Bitcoin breaking $100,000 by the end of the year, as bullish sentiment surges in the options market.
**Spotlight Analysis**: ZetaChain has partnered with Google Cloud to accelerate innovation in universal blockchain and Web3 technologies.
**Market Opportunities**: Cytonic, an L1 blockchain execution layer supporting multiple virtual machines running on a single network with shared storage, has launched a six-month points program to build momentum for its upcoming mainnet release.
Explore today's details 👉🏻 Gate Research: Market Pulls Back Amid Rising Volatility at High Level, Bitcoin Surpasses Silver as 8th Largest Global Asset

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Gate.io Team
Nov 13th, 2024

Gate Research: Market Pulls Back Amid Rising Volatility at High Level, Bitcoin Surpasses Silver as 8th Largest Global Asset

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