Cryptocurrency markets are trading lower on Tuesday, with altcoins continuing their strong performance.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $96,114.25 | +0.8% |
| Ethereum ETH/USD | $3,616 | +0.2% |
| Solana SOL/USD | $236.50 | +3.2% |
| Dogecoin DOGE/USD | $0.4116 | -2% |
| Shiba Inu SHIB/USD | $0.00002826 | -2% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 125.5% and daily active addresses growing by 28%. Transactions greater than $100,000 are up from 8,298 to 12,355 in a single day. Currently, there are no Bitcoin holders underwater.
- Coinglass data reports 216,766 traders liquidated in the past 24 hours for $590.24 million
- IntoTheBlock shows Bitcoin long-term holders holding 12.45 million BTC—the lowest level since July 2022. Long-term holder balances have fallen by 9.8% this cycle, compared to 15% in 2021 and 26% in 2017.
- CoinTelegraph noted Binance topping crypto exchanges for Bitcoin deposits in 2024, with average daily deposits rising by around 2.8 BTC in 2024.
Notable Developments:
- Donald Trump May Announce SEC Chair Pick Tomorrow: Report
- ‘Policy Formation Will Be Critical’: Experts Weigh In On Stablecoin Adoption
- Can Your Bitcoin Be Confiscated If Trump Establishes A National Reserve? Analyst Says Government Can Employ Carrot-And-Stick Policy
- CleanSpark CEO Zach Bradford Explains Why The Company Is Betting on Bitcoin Mining, Not Buying
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Reserve Rights RSR/USD | $0.02091 | +119.6% |
| Tron TRX/USD | $0.3077 | +43.6% |
| JasmyCoin JASMY/USD | $0.04181 | +40% |
Trader Notes: With Bitcoin prices trading relatively flat with negative bias, crypto chart analyst Ali Martinez advises watching out for key support levels like $90,000.
Crypto analyst Michaёl van de Poppe is awaiting a breakout for Bitcoin and is ready to buy if Bitcoin dips to $90,000.
Crypto trader Kevin cautions that Bitcoin’s current pattern is moving closer to breaking out either to the upside or the downside.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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