Cryptocurrency markets are down on Wednesday, pushing crypto lengthy liquidations to the best since Oct. 15.
Cryptocurrency | Worth | Positive factors +/- |
Bitcoin BTC/USD | $66,169.96 | -2% |
Ethereum ETH/USD | $2,503.20 | -4.8% |
Solana SOL/USD | $170.11 | +0.99% |
Dogecoin DOGE/USD | $0.1364 | -2.7% |
Shiba Inu SHIB/USD | $0.00001738 | -4.9% |
Notable Statistics:
- IntoTheBlock knowledge exhibits massive transaction quantity inching greater by 0.7% and every day energetic addresses falling by 12.5%. Transactions higher than $100,000 are down from 8,957 to 7,886 in a single day. Exchanges netflows are down by 716.6%.
- Coinglass knowledge reviews 83,751 merchants have been liquidated prior to now 24 hours for $228.61 million. Crypto lengthy liquidations stood at $196.3 million, the best since Oct. 15.
Notable Developments:
High Losers:
Cryptocurrency | Worth | Positive factors +/- |
Mog Coin MOG/USD | $0.051844 | -8.9% |
Chainlink LINK/USD | $11.19 | -7% |
ApeCoin APE/USD | $1.21 | -7% |
Trader Notes: With Bitcoin costs touching $65,000, CryptoCon sees Bitcoin’s present sideways motion persevering with. He noted that the longer the consolidation interval lasts, the higher the potential upside and added that the worth has been in one of many longest stretches throughout the low volatility zone of the weekly Bollinger Band Width. This means that Bitcoin is getting ready for a bull market enlargement.
CrediBULL Crypto predicts a bounce from this area:
Giving a bullish outlook on Bitcoin, crypto dealer Moustache highlighted that the Golden Second indicator for Bitcoin has not too long ago crossed bullish. He additionally added that this example has occurred 4 occasions within the final 4 years. This led the costs to maneuver considerably greater.
Rekt Capital tweeted that Bitcoin is presently retesting the channel prime as help, which is across the $66,200 worth degree. Whereas there could also be non permanent dips under this degree, the secret’s for Bitcoin to shut above the channel prime on the weekly chart to substantiate a profitable retest and keep its upward momentum.
What’s Subsequent: The affect of Bitcoin as an institutional asset class is predicted to be totally explored at Benzinga’s upcoming Future of Digital Assets occasion on Nov. 19.
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