Bitcoin, Ethereum, XRP Steady, but Dogecoin Dips: Analyst Bets a Repeat of BTC's Short Squeeze, Driving It Toward $90,000
Aniket Verma 10 hours ago
NewsCryptocurrency
Leading cryptocurrencies struggled for big gains on Wednesday, November 11, as investors trimmed risk appetite.
Leading cryptocurrencies struggled for big gains on Wednesday as investors trimmed risk appetite.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 8:21 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +0.40% | $73,676.59 |
| Ethereum (CRYPTO: ETH) | +0.50% | $2,051.17 |
| XRP (CRYPTO: XRP) | +0.20% | $1.05 |
| Solana (CRYPTO: SOL) | +0.30% | $83.15 |
| Dogecoin (CRYPTO: DOGE) | -0.50% | $0.06731 |
Crypto Market Awaits Big Rally
Bitcoin wobbled between $73,202 and $74,694 as bulls faced stiff resistance from bears. Ethereum struggled to break through $2,100, while Dogecoin slid 0.50% in the last 24 hours.
Cryptocurrency-related stocks, meanwhile, gained, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing up 1.06% and 6.33%, respectively.
Nearly $290 million was liquidated from the cryptocurrency market in the last 24 hours, predominantly in bullish long positions, according to Coinglass data.
Bitcoin’s open interest fell 2.44% over the last 24 hours. A drop in open interest accompanied by a price increase typically indicates short covering, meaning short sellers are buying back contracts to close out open positions.
Top Gainers (24 Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 8:21 p.m. ET) |
| Midnight (NIGHT) | +11.20% | $0.04705 |
| Cronos (CRO) | +5.50% | $0.04984 |
| Gram (GRAM) | +5.80% | $1.18 |
Stocks Climb as AI Trade Regains Momentum
The Dow Jones Industrial Average jumped 254.60 points, or 0.49%, to close at 52,486.49. The S&P 500 rose 1.31% to end at 7,619.3, while the tech-focused Nasdaq Composite added 1.60% to end at 25,466.
CoreWeave Inc. (NASDAQ: CRWV) soared 24%, its biggest one-day gain since June 3, 2025, pulling chipmakers, memory producers and power stocks back into the artificial-intelligence trade.
Bitcoin Headed to $90,000?
Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, noted Bitcoin holding support at its 200-day moving average near $73,200 while slowly advancing on the daily chart.
“First step to break through: $75,000. If that breaks, we’re getting into better territory,” Van De Poppe projected.
Decent day for #Bitcoin.
— Michaël van de Poppe (@CryptoMichNL) November 11, 2026
It's holding the 200-Day MA and slowly crawling upwards.
First step to break through: $75,000.
If that breaks, we're getting into better territory. pic.twitter.com/9Z6VUFDrYj
Cryptocurrency analyst CrediBULL Crypto predicted a repeat of a prior short squeeze when high Bitcoin open interest preceded a rapid pump.
“My bet is they are gonna run it back again this time. Short squeeze from $72,000 to $90,000 in a few days,” the analyst added.
The last time $BTC OI was at these level our flush came in the form of a short squeeze that pumped us from 62k to 80k in a few days.
— CrediBULL Crypto (@CredibleCrypto) November 12, 2026
My bet is they are gonna run it back again this time.
Short squeeze from 72k to 90k in a few days. https://t.co/hIUtZr7ltX
Photo Courtesy: Phongphan via Shutterstock.com