Multiple on-chain metrics suggest that Cardano is poised to advance further. Still, ADA must overcome one final resistance barrier before reaching new highs.

Cardano entered a steep corrective period after reaching new yearly highs in late July. The so-called “Ethereum killer” saw its price plummet more than 50% within two months.

While Bitcoin has taken the lead in the latest bullish run-up, XRP has remained dormant. Now, a technical index suggests that this altcoin is on its way to greener pastures.

XRP has gone through a month-long consolidation period that has forced the Bollinger bands to squeeze on its 3-day chart.

AP News today declared that Joe Biden had won the U.S. elections. Bitcoin dropped shortly after the news, signaling the market’s initial concerns about the President-elect.

President Trump has yet to concede the election, but news agencies worldwide have declared Biden the victor of the Presidential election.

Biden nabbed 284 electoral votes. Only 270 are needed to claim victory.

China’s mining cartel is breaking up, and Bitcoin mining is decentralizing thanks to the dry season, obsolete equipment, and rising global interest. 

The Chinese mining industry is slowly losing its dominance as the competition scales up around the world. 

Square sold a record 160,000 Bitcoin in Q3 2020. As it stands, consumer demand for Bitcoin far outstrips new supply from mining.

The recent crash in the DeFi space has liquidated several SNX stakers. Since then, however, the sector has rebounded, suggesting the bottom is in.

Though citizens are in day three of the U.S. elections, those holding Bitcoin may need to wait a little longer before a stimulus-driven bull run can continue.

The Federal Reserve met on Nov. 5 to discuss whether the U.S. economy needs another dose of quantitative easing, a policy whereby the central bank buys bonds or assets. 

This stimulates economic activity but also increases the supply of the greenback, typically causing inflation in the long run.

Both the total open interest for BTC futures and options broke new records today as Bitcoin touched its yearly high of $15,968 on Bitstamp. 

Bitcoin futures traders logged a daily volume of $41 billion, $2 billion less than the token’s all-time high. However, the total open interest (OI) for BTC futures surpassed $5.7 billion, a new record. 

Bitcoin continues to prove its undeniable value as an alternative treasury asset, as the cryptocurrency rallies in the face of election uncertainty and broad-based weakness in the U.S. dollar.

Federal Reserve Chairman Jerome Powell’s latest remarks on the weakening U.S. economy also helped to accelerate the ongoing upside breakout, as the pioneer cryptocurrency fast approaches a 33-month trading high.

Bitcoin is now worth $15,559 with a market cap of $288.3 billion, making it the 21st biggest asset in the world by market cap, according to Asset Dash.