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:
- ‘Asia’s Microstrategy’ Metaplanet Buys Another 107 Bitcoin: Here’s How Big Its Pile Has Grown
- Donald Trump’s World Liberty Financial Token Sales Hit $220M In First Hour, Website Faces Multiple Outages
- Tokenization On Track To Reach Trillion-Dollar Market By 2030, Says Industry Expert
- Anthony Pompliano Predicts Tesla’s Automation Tech Will Spike Stablecoin Adoption: ‘People Don’t Want To Spend Their Bitcoin’
- Bitcoin Spot ETFs Saw $555.8M Net Inflows On ‘Monster’ Monday
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.
Read Next:
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
