The BTC exchange rate fell to 35,560 USD by Wednesday.
From a technical standpoint, the 38,000 USD mark remains relevant for buyers in the medium term, with the next target located at 42,000 USD.
For growth to resume, the market needs to maintain equilibrium within the range of 35,000-37,000 USD. Currently, a technical correction has taken effect, supported by a seasonal trend. It is theoretically expected to be short-lived. If the market manages to wait it out, the bullish impulse will unfold with renewed vigour by the end of the month.
The cryptocurrency market capitalisation has decreased to 1.37 trillion USD. BTC's dominance has dropped to 50.8%, and the share of ETH has declined to 17.4%.
Bitcoin network fees have increased sharply
On 9 November, Bitcoin transaction fees reached their highest level since May, with the peak price recorded at 15 USD. The fee amount in this case is directly related to the activity. During periods of market frenzy, the core network suffers from congestion, causing transaction prices to rise.
Polygon ID released its fifth version
The Polygon project released the fifth version of Polygon ID. One of the new features is the ability for dapps to verify user data without disclosing personal information.