Mon, November. 25 — Cryptocurrency markets are showing mild signs of recovery, while Bitcoin (BTC) is fighting to stay above the $7,100 price mark.

Cryptocurrency marketplace daily overview. Source: Coin360

Bitcoin started the day simply above the $7,100 price mark, at which betoken the earth's largest crypto coin bounced off a local low of $6,560, before moving up once more to its current trading cost near $seven,150. Afterwards a tumultuous 24 hours, BTC is showing a modest gain of simply under 1% on the 24-hour interval.

BTC is downward effectually 12% from the weekly open up of $eight,100, while, over the month, investors have lost effectually $1,800 per coin.

Bitcoin daily cost nautical chart. Source: Coin360

Bitcoin could spend months trading at $5,500

Bolt trader and technician Peter Brandt recently revealed his belief that BTC could spend months trading at $5,500 before it recovers. The veteran trader became best known as being 1 of the first analysts who accurately predicted the stop of the balderdash run in Dec 2022.

"My target of $5,500 is non far below today'southward low. Merely I think the surprise might be in the elapsing and nature of the market," he wrote. Brandt continued:

"I am thinking about a low in July 2022. That volition wear out bulls quicker than a price correction."

Well-known statistician and analyst Willy Woo, together with crypto trader Tone Vays, echoed similar sentiments when they said that the threat still remains that Bitcoin volition hit $4,500.

Regular Cointelegraph contributor Filb Filb added his stance to the mix of negative sentiments, proverb that for him now was a time to be hazard-off:

"I'm totally dorsum in cash at present. At that place doesn't seem to exist obvious sign of reversal. Going to sit on the sidelines until there is more indication."

Ether (ETH), meanwhile, saw a painful drib in sync with BTC during recent days. The number-ane altcoin bounced of its daily low at $134, earlier moving up to its electric current trading price of $147 per coin. Ether is showing a mild gain of around 0.vii% on the day.

Ether vii-day toll chart. Source: Coin360

XRP, the tertiary-largest money by market capitalization, continues to lose ground and currently sits at $0.220 per coin, showing a loss of more than 3% at printing time.

XRP 7-day toll chart. Source: Coin360

Mixed signals among the tiptop xx

Many of the top 20 coins are showing mild signs of recovery, with Cosmos (Atom) taking the lead, up more four% on the day. Monero (XMR) comes in second place with a gain of around 2.2% at printing time. Tezos (XTZ) takes the title of biggest loser, seeing a loss of about 9% on the day.

The overall cryptocurrency market place cap currently sits around $195.9 billion, with Bitcoin making upward 66.four% of the total.

Continue track of top crypto markets in real time here