Bitcoin Pushes Back Above $90,000, Ethereum, Dogecoin Lag To End A Record Week

Cryptocurrency markets are closing the week strong, with Bitcoin pushing above $90,000 at the end of the U.S. trading session.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$90,792	+1.5%
Ethereum ETH/USD	$3,061	-2.3%
Solana SOL/USD	$213.8	-0.5%
Dogecoin DOGE/USD	$0.3719	-5.1%
Shiba Inu SHIB/USD	$0.00002439	-2.7%

Notable Statistics:

• IntoTheBlock data shows large transaction volume falling by 14% and daily active addresses dropping by 3%.
• Coinglass data reports $453 million in liquidations, $288 million of which were liquidated long positions.

Notable Developments:

• Bitcoin, Dogecoin Success Driven By ‘Narrative And Momentum,’ Report Argues
• Solana, Ripple, Litecoin ETFs May Be On The Table Under Trump Administration, Industry Experts Say
• XRP Soars 58% On The Week: What Is Going On?
• Matt Gaetz To Be Confirmed As Attorney General In A Trump Administration? Not So Fast, Polymarket Traders Say
• Viral Baby Hippo MOODENG Makes New All-Time High, Could Follow Shiba Inu’s Run, Trader Predicts

Top Gainers:

Cryptocurrency	Price	Gains +/-
Flare FLR/USD	$0.0207	46.5%
Algorand ALGO/USD	$0.1805	20.5%
Cardano ADA/USD	$0.6784	20.2%

Trader Notes: Veteran analyst Benjamin Cowen expects Bitcoin dominance to increase for the remainder of the year. He expects a reversal only in 2025.

With #ALT / #BTC pairs still about 27% off their lows, #DXY climbing, yields going up, and QT continuing, #BTC dominance will likely go higher into EOY.

I do think #BTC dominance will go down in 2025, but that is 1.5 months away, and a lot can happen between now and then. pic.twitter.com/9xosZy9y9N

— Benjamin Cowen (@intocryptoverse) November 15, 2024

A poll by trader TheFlowHorse shows his audience divided over whether Bitcoin will trade above $89,500 on the weekend, with a slight 54% majority saying yes.

Technical analyst Pierre outlined the likely paths for Bitcoin in the short term: either a flip of the resistance level around $90,000, which could lead to new highs, or a visit to the bottom of the range around $85,000. In between the two prices, he expects sideways trading 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.

Image: Shutterstock