Peak Irrationality in Crypto Markets
  The latest moves in crypto markets, in context Edited by Omkar Godbole November 29, 2021 Sponsored by  (Price data as of November 29 @ 12:15 UTC) If you were forwarded this newsletter and would like to receive it, sign up here.
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Biggest Movers These are the biggest movers in the CoinDesk 20 over the past 24 hours:
Top Gainers: Top Losers: The CoinDesk 20 are 20 digital assets filtered from the larger universe of thousands of cryptocurrencies and constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges.
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Market Moves by Omkar Godbole Bitcoin has recovered to $57,000 tracking signs of risk reset in traditional markets.
Buyers made a comeback on early Monday as reports from South Africa stated that Omicron patients seen so far have had "extremely mild symptoms"
"Bitcoin is largely being grouped with other risk assets at the moment," Matthew Dibb, COO and co-founder of Stack Funds, said. "After Friday's collapse in equities, we have seen some buying in major coins, but it's too early to say whether it will continue."
On Friday, bitcoin and risk assets, in general, tanked after the news of a supposedly vaccine-resistant COVID variant coming out of South Africa raised the specter of economically painful lockdowns. The World Health Organization (WHO) deemed the Omicron variant, as a variant of concern.
However, a little-known cryptocurrency stayed resilient and chalked up a ten-fold rally over the weekend.
OMIC, the native coin of decentralized reserve currency protocol with the same name as the newly detected COVID variant Omicron, picked up a bid near $70 late Friday and rose as high as $711 on Sunday, according to data source crypto.com.
The token's surge perhaps represents peak irrationality – a case of cryptocurrency rallying just because its parent blockchain coincidentally shares the name with the new COVID variant.
Technician's Take by Omkar Godbole  Bitcoin's Bull Continuation Pattern  BTC's hourly chart (Source: TradingView)
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BOLO Be on the lookout for the following events today:
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A Message from CoinDesk  Will bitcoin kill the U.S. dollar? Will money become tokenized? How do we use cash?
Since we don't have a crystal ball, we reached out to some of the brightest minds in crypto to share their predictions on "the future of money."
There's only one thread that cuts through all 20 predictions: Whatever the future of money holds, it won't be boring. Read more here.
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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.
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