Market Wrap: Altcoins Outperform as Bitcoin Stabilizes

Market Wrap: Altcoins Outperform as Bitcoin Stabilizes
Bitcoin’s price is starting to stabilize after a near-4% drop over the past week. The cryptocurrency was trading around $57,000 at press time and could go higher, initially toward $60,000-$63,000, according to technical indicators.Analysts expect trading volumes to decline this week given the U.S. Thanksgiving holiday on Thursday. “The last three years we’ve had downward volatility every time around this holiday; could be due to end of month rotations, options/futures expiries and rebalancing,” CryptoQuant wrote in a blog post.Bitcoin is up about 3% over the past 24 hours, compared with an 8% rise in ether. Alternative cryptocurrencies are gaining ground…