Crypto market digest: Bitcoin below $90,000, Monad launch and new altcoin ETFs

Bitcoin remains under pressure below $90,000

By the morning of November 24, Bitcoin was trading in the area of 86–88 thousand dollars after several volatile sessions and a sharp drop from the area of historical highs. Investors are taking profits and pricing in growing expectations of a Fed rate cut, but the total crypto market capitalization remains around $3 trillion, indicating continued interest in digital assets.

Institutional activity through spot ETFs

US Bitcoin spot ETFs continue to show high trading volumes, reaching tens of billions of dollars per week. This maintains market liquidity, but at the same time increases price sensitivity to capital inflows and outflows from large managers.

Launch of new Monad L1 network

On November 24, the public mainnet of the high-performance L1 network Monad with support for EVM and parallel execution of transactions is planned to be launched. The project is positioned as a competing infrastructure for DeFi, games, NFTs and AI services, claiming to redistribute some of the liquidity from existing ecosystems.

New ETFs on XRP and Dogecoin

Trading in the US will start with new exchange-traded funds based on XRP and Dogecoin from a major crypto manager, which received regulatory approval last week. The debut of the XRP ETF has already shown strong investor demand and a rapid set of assets under management, while the Dogecoin product is aimed at retail interest in volatile meme assets.

Increasing regulatory pressure in Asia and Europe

South Korean financial intelligence is preparing for new large fines for leading local crypto exchanges for violations of compliance and anti-money laundering requirements. The European Central Bank, in turn, warns that the massive adoption of stablecoins could crowd out retail bank deposits and pose additional risks to financial stability.

News highlights

• Bitcoin is trading below $90,000 after a strong correction from October highs.

• US Bitcoin spot ETFs maintain high trading volumes and increase price impact of institutional flows.

• The mainnet of the new high-performance L1 network Monad with the MON token and EVM support is starting.

• In the US, ETFs based on XRP and Dogecoin are going up for trading with noticeable interest from investors.

• South Korea and the ECB are increasing pressure on the industry: fines to exchanges and warnings on stablecoins.

The information is for informational purposes only and under no circumstances constitutes an individual investment recommendation.