Cryptocurrency markets are trading lower despite strong ETF inflows last week.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $67,479.67 | -1.6% |
| Ethereum ETH/USD | $2,672.35 | -1% |
| Solana SOL/USD | $166.22 | -3.8% |
| Dogecoin DOGE/USD | $0.1426 | +1.5% |
| Shiba Inu SHIB/USD | $0.00001848 | -1.9% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 1.8% and daily active addresses growing by 3.3%. Exchanges netflows are down by 134%.
- Coinglass data reports 67,252 traders were liquidated in the past 24 hours for $201.12 million.
Notable Developments:
- Bitcoin ETF Inflows Surge To Over $2 Billion Amid Rising Trump Election Odds
- Ethereum Co-Founder Vitalik Buterin Says ‘Baptisms Of Fire’ In Cryptocurrency Will Catalyze Growth For Bitcoin And Other Digital Assets
- Mark Cuban Dismisses Polymarket Election Odds As Meaningless: ‘Most Of The Money Is Foreign’
- Coinbase CEO Brian Armstrong Endorses Elizabeth Warren’s Pro-Crypto Rival John Deaton In Senate Race, Gets A Nod Of Support From Elon Musk
Top Losers:
| Cryptocurrency | Price | Gains +/- |
| First Neiro On Ethereum NEIRO/USD | $0.001722 | -9% |
| ORDI ORDI/USD | $35.50 | -6.4% |
| Dogwifhat WIF/USD | $2.52 | -6% |
Trader Notes: With Bitcoin prices dropping below $68,000 mark, Justin Bennett highlighted how everyone is talking about Bitcoin highs which have not happened yet.
Another trader predicts that the weekly chart pattern is “currently in bullish territory.” He anticipates and assumes that buyers will be ready to leverage any opportunity of buying any dips.
Crypto trader Jelle points out that Bitcoin’s fun part has just begun despite markets selling off today “as expected.”
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.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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