Cryptocurrency markets are trading higher, with Bitcoin recording a new all-time high at $94,040, according to Coingecko data.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $93,312.89 | +2.9% |
| Ethereum ETH/USD | $3,122.39 | -0.3% |
| Solana SOL/USD | $243.76 | +2.9% |
| Dogecoin DOGE/USD | $0.4053 | +10% |
| Shiba Inu SHIB/USD | $0.00002537 | +4% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 102.3% and daily active addresses up by 13%. Transactions greater than $100,000 are up from 8,261 to 11,812 in a single day. Exchanges netflows are down by 192%.
- Coinglass data reports 98,554 traders were liquidated in the past 24 hours for $289.96 million. Open interest spiked to $59.3 billion.
Notable Developments:
- Crypto Exchange Gemini Launches Services In France Following Regulatory Approval
- Crypto Growth Hinges On ‘Thoughtful Policy,’ Clear Regulations, Says Expert
- What’s Going On With Bakkt Holdings Stock Tuesday?
- Bitfinex Bitcoin Laundering Case Lands ‘Crocodile Of Wall Street’ In Jail
- BlackRock’s Spot Bitcoin ETF To Open For Options Trading: Here’s Why It Could Be A Big Deal For Bitcoin
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Bonk BONK/USD | $0.00005573 | +14% |
| Hedera HBAR/USD | $0.1378 | +13.5% |
| Goatseus Maximus GOAT/USD | $1.17 | +12.8% |
Trader Notes: With Bitcoin prices crossing all-time highs of $94,000, crypto trader Jacob Canfield predicts a minimum target of $97,000.
Crypto trader More Crypto Online hopes that Bitcoin can move forward toward $95,000 and then maybe $97,000. On the other hand, the trader remains cautious suggesting this could be a corrective range. He believes the structure lacks clear direction and momentum and is therefore very fragile.
Santiment data noted that with Bitcoin peaking to all-time highs, whale transactions and retail FOMO could make the "short-term price action unpredictable, but the long-term indicators for Bitcoin looking quite sound."
It also added that in any long-term bull market, dormant coins continuously moving back into circulation.
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.
