Zinger Key Points
- Global cryptocurrency market capitalization is trading lower by 0.9%.
- One trader noted that BTC is trying to break a trend line to resume bull run, another provides long and short trade plans.
Cryptocurrency markets are trading relatively flat after the Federal Reserve announced a 50-basis-point interest rate cut, making risk assets more attractive.
Cryptocurrency | Price | Gains +/- |
Bitcoin BTC/USD | $60,376.37 | -0.4% |
Ethereum ETH/USD | $2,322.72 | -1.3% |
Solana SOL/USD | $130.3 | -1.7% |
Dogecoin DOGE/USD | $0.101 | -0.3% |
Shiba Inu SHIB/USD | $0.00001334 | -0.04% |
Notable Statistics:
- IntoTheBlock data shows an 8% decline in large transaction volume and a 4% increase in daily active addresses. Transactions greater than $100,000 increased from 7,579 to 8,280 in single day. Exchanges netflows narrowed by 238%.
- Coinglass data shows 56,823 traders were liquidated in the past 24 hours for $124 million.
- HODL15Capital noted that U.S. Bitcoin ETFs continue to buy more than 100% of newly mined BTC. The ETFs bought 2,921 Bitcoin yesterday vs. 450 mined.
Notable Developments:
- Revolut Plans To Launch Stablecoin: ‘Crypto Is Part Of Our Belief In Banking Without Borders’
- Jamie Dimon Says JPMorgan Is Likely ‘One Of The Bigger Users’ Of Blockchain Technology, But Calls Cryptocurrencies A ‘Pet Rock’
- Ethereum Co-Founder Says Donald Trump Is ‘Certainly The Favorite’ Over Kamala Harris For Crypto
- Hamster Kombat To Launch Game Development Ecosystem, Aiming To Onboard ‘Next Billion’ Into Web3
- MicroStrategy Raises $875M In Convertible Notes, Plans Further Bitcoin Purchases
- Shiba Inu Team Says Launching K9 Finance Liquid Staking On Shibarium Tomorrow: Are SHIB Burns Set To Accelerate From Here On Now?
Top Gainers:
Cryptocurrency | Price | Gains +/- |
Nervos Network CKB/USD | $0.01754 | +10% |
Fantom FTM/USD | $0.6171 | +8.2% |
BinaryX BNX/USD | $1.56 | +7.8% |
Trader Notes: Crypto chart analyst Ali Martinez predicts that today's close above $61,500 "could signal the resumption of the bull market! Uptober."
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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