Bitcoin price held steady near $86,000 on November 24, rebounding from a sharp drop to $80,600, as traders eye a potential Federal Reserve rate cut in December. The CME FedWatch Tool shows a 75% chance of a cut, supported by dovish comments from New York Fed President John Williams, which have eased liquidity fears and boosted risk appetite.
Amid this, MicroStrategy, under chairman Michael Saylor, is doubling down on its Bitcoin strategy despite a 60% decline in MSTR stock this year. The company added 8,178 BTC in November alone, bringing its total holdings to 649,870 BTC with an average buy-in of $74,430. Saylor's unwavering conviction, expressed publicly on X, is bolstering long-term Bitcoin price predictions, with technical indicators like the daily RSI at 27 suggesting oversold conditions and potential resistance at $90,000.
However, institutional skepticism persists. BlackRock's head of digital assets, Robbie Mitchnick, stated in a recent podcast that most clients view Bitcoin as digital gold rather than a viable global payment system, calling it an out-of-the-money-option-value-upside and emphasizing that significant scaling upgrades, including via Lightning Network, are needed before mainstream adoption.
This uncertainty is shifting focus to alternative investments. DeepSnitch AI, an AI-powered presale project, has raised over $585,000, with its token DSNT priced at $0.02477. The project offers real-time tools like SnitchScan for contract risk assessment and SnitchFeed for whale activity tracking, positioning it as a potential 100x opportunity. Meanwhile, Monad launched its Layer-1 blockchain and MON token, with Coinbase raising $269 million in its public sale, reviving ICO trends. MON traded around $0.0296, with short-term forecasts up to $0.060. Additionally, BNB faced volatility, pulling back to $850 from highs above $930, and Mantle (MNT) hovered near $1, reflecting defensive altcoin sentiment.
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