Zinger Key Points
- Global cryptocurrency market capitalization is trading relatively flat at $2.09 trillion amid strengthening key Bitcoin metrics.
- One trader noted that spot traders must be doing great, while another trader marks the next relevant support level at $56,287.
- Get Monthly Picks of Market's Fastest Movers
Cryptocurrency markets are trading relatively flat as markets await the interview between Elon Musk and Donald Trump.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $59,067 | -1.15% |
| Ethereum ETH/USD | $2,649 | +1.9% |
| Solana SOL/USD | $143.6 | -1.7% |
| Dogecoin DOGE/USD | $0.1052 | +1.7% |
| Shiba Inu SHIB/USD | $0.00001366 | +0.4% |
Notable Developments:
- Massive $650M Crypto Fraud Scheme Uncovered, SEC Files Charges
- A Donald Trump Win Could Be Seen As Bullish, Harris Victory As Bearish For Crypto: Bernstein
- Nicolas Maduro’s Venezuela Blocks Access To Binance, Crypto Exchange Says Funds Are Safe
- Kamala Harris Edges Out Donald Trump In Crypto Betting Odds For The First Time, Wagers Rise From 6% To 52% In Less Than A Month
- Bitcoin Archive noted that Bitcoin miner Marathon Digital will raise $250 million for buying more Bitcoin.
Notable Statistics:
- IntoTheBlock data shows large transaction volume increased by 10%, while daily active addresses grew by 3.2%. Exchanges netflows widened by 80.2%, taking around 82% Bitcoin holders to profit levels.
- Coinglass data noted 75,577 traders were liquidated in the past 24 hours for $220.44 million.
- Cryptoquant reported that miner reserves dropped below levels not seen since Bitcoin's early 2021 all-time high.
- Crypto trader Marty Party tweeted that Bitcoin reserves on centralized exchanges are at levels not seen since November 2018.
Top Gainers:
| Cryptocurrency | Price | Gains +/– |
| SATS (CRYPTO: 1000SATS) | $0.0003154 | +23.9% |
| Sui SUI/USD | $1.01 | +12.7% |
| Helium HNT/USD | $6.6 | +12.3% |
Trader Notes: More Crypto Online in their recent tweet stated that Bitcoin’s price will have to reverse to the upside the keep the "white micro structure alive."The next relevant support levels are at $56,287 and then $54,600.
Crypto trader Income Sharks believes that those who invested in spot are doing great, while others who are impatient will be out of money when BTC goes higher.
Crypto trader Blockchainedbb predicts that Bitcoin will go to $63,000 if $55,000 holds.
Stockmoney Lizards in the latest X post has a conservative cycle top estimate of $200,000 – $250,000.
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:
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
