Bitcoin, Ethereum, Dogecoin Go Down Yet Again: 'Crucial Area Of Support,' Top Analyst Warns

Cryptocurrency markets are trading lower, with liquidations spiking over $100 million on Friday.

Notable Statistics:

• IntoTheBlock data notes a 4% increase in large transaction volume and daily active addresses. Transactions greater than $100,000 increased from 6,794 to 7,328.
• Coinglass data highlighted 49,973 traders liquidated in the past 24 hours, with total liquidations at $124.99 million.

Notable Developments:

• Standard Chartered To Launch Bitcoin, Ethereum Trading Desk As ETF Outflows Continue
• Binance Integrates Tether On TON To Boost User Flexibility
• California Judge Advances Civil Securities Lawsuit Against Ripple, Sets Stage For TrialBitcoin Dips Below $64K, Triggers Over $100M In Liquidations: ‘Consolidation Phase Ongoing,’ Says Trader

Top Losers:

Andrew Crypto, in his latest tweet, noted that Bitcoin went lower and headed to its demand zone. He suggested that it is a good place to build longs but added, “as we are heading into the weekend caution is required.”

Titan of Crypto predicted that Bitcoin's most hated rally is incoming and expects a "last epic leg up soon." He adds, "The market is playing with your nerve and as per usual many will be fooled by this BTC price action."

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.

Read Next: What’s Next For Bitcoin? ‘Significant Bounce’ Or ‘Nasty Impulse Down,’ Traders Say

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