Cryptocurrency markets are trading relatively flat after a mid-day spike amid Donald Trump’s rising election odds.
Cryptocurrency
Price
Gains +/-
Bitcoin BTC/USD
$66,756.23
+1.2%
Ethereum ETH/USD
$2,584.21
-1.4%
Solana SOL/USD
$154.66
-0.6%
Dogecoin DOGE/USD
$0.1146
-0.7%
Shiba Inu SHIB/USD
$0.00001806
-0.8%
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 73.8% and daily active addresses growing by 17.4%. Transactions greater than $100,000 are up from 5,104 to 9,217 in a single day. Exchanges netflows are down by 2,523%.
- Coinglass data reports 97,280 traders were liquidated in the past 24 hours for $312.03 million. Crypto long liquidations of $169.4 million are the highest since Oct.2.
Notable Developments:
Top Gainers:
Cryptocurrency
Price
Gains +/-
cat in a dogs world MEW/USD
$0.008708
+8.4%
Fantom FTM/USD
$0.7717
+6.4%
Beam BEAM/USD
$0.01748
+6.3%
Trader Notes: With Bitcoin prices crossing the $66,000 mark, Smiley Capital said its time for “more bullish propaganda.” The trader pointed out a pattern that has held for the last three Bitcoin bull runs.
Cold Blooded Shiller suggests that Bitcoin is approaching a critical battle zone on the weekly chart. Indicators on the Daily chart, such as the RSI at 67 show stalling momentum. If Bitcoin breaks above this level, it will confirm a shift in market momentum, signaling that bulls are in control. The analyst predicts that if the market enters the “overbought” zone for the first time in 7 months, it could stay there for a while, potentially pushing Bitcoin to $100,000 and beyond. This shift would mark a significant technical breakout.
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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