Cryptocurrency markets are zooming higher, with open interest spiking and crypto markets unaffected by the global IT outage.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin | $67,081.5 | +5.5% |
| Ethereum | $3,510.1 | +3% |
| Solana | $170.26 | +8% |
| Dogecoin | $0.1251 | +5.9% |
| Shiba Inu | $0.00001799 | +5.7% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume dropped by 37.6% and daily active addresses grew by 3.9%. Currently, 93% of Bitcoin holders are making a profit while 7% are at breakeven.
- Coinglass data noted 42,899 traders were liquidated in the past 24 hours for $146.5 million. Bitcoin's open interest is at its highest ($33.89 billion) since June 23.
Notable Developments:
- WazirX Declares $230M Hack A Force Majeure Event, Pledges Full Investigation
- President Biden’s Nomination Odds Plummet: Vice President Kamala Harris Now 60% Favorite, But There May Be A Catch
- BlackRock’s BUIDL Tokenization Fund Hits $500M In Assets Under Management
- Kim Jong Un-Led North Korea Has Found The Crypto Industry An Easy Target, Former FBI Agent Says Hacks Part Of ‘Grand Internal Vision’
Top Losers:
| Cryptocurrency | Price | Gains +/– |
| Mog Coin MOG/USD | $0.000002267 | +21% |
| Bonk BONK/USD | $0.0000314 | +21% |
| Brett (Based) BRETT/USD | $0.1397 | +15.7% |
Trader Notes: Crypto analyst IamCryptoWolf predicts a realistic target for Bitcoin in this cycle.
Notable crypto venture capitalist Chris Burniske pointed to factors like ETH ETFs, Trump speaking at the Bitcoin conference to predict that Bitcoin, Ethereum and Solana will go a lot higher next week.
Doctor Profit reminded traders that a purchase at the exact bottom for Bitcoin in the current cycle would have led to 25% profits. He concluded, "Sunday report will make you all happy…"
Futures trader Satoshi Flipper tweeted, "The Trump Bitcoin run" has just started and everything Trump will "send hard next 5 months and I still think his election win marks the bull cycle top."
Crypto trader Altcoin Sherpa in a bullish tweet stated,
CrypNeuvo highlighted how Bitcoin is pumping after global IT outage as it has during the banking crisis. "Today banks are closed but BTC is open."
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.
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