Cryptocurrency markets are falling as geopolitical tensions continue to loom over global financial markets.
Cryptocurrency price increase +/-Bitcoin BTC/USD $60,619.33 -1%Ethereum ETH/USD $2,342.84 -3%Solana SOL/USD $134.89 -5.8%Dogecoin DOGE/USD $0.103 -0.7%Shiba Inu SHIB/USD $0.0000159 -3%
Notable statistics:
According to IntoTheBlock data, large transaction volume decreased by 13.4% and daily active addresses decreased by 15.9%. Transactions over $100,000 fell from 9,410 to 8,750 in one day. Exchange net flows decreased by 4,310.1%. According to Coinglass data, 93,852 traders liquidated for $263.49 million in the past 24 hours.
Notable developments:
Top losers:
Cryptocurrency price increase +/-Ethena ENA/USD $0.2871 -13.8%Beam BEAM/USD $0.01479 -12.6%Fantom FTM/USD $0.6051 -9.9%
Trader Note: With Bitcoin price hovering around $60,000, crypto chart analyst Ali Martinez has marked $60,365 as an important Bitcoin level to watch. Below this, Bitcoin will rise to $57,420. According to the analyst, if this level holds, the crypto kingpin will rebound to $63,300.
According to CryptoCon’s analysis, a Bitcoin bull market will begin within two months, he tweeted.
Santiment data showed that Bitcoin has fallen 9.2% from its local high of $66,400 on September 27, indicating that public sentiment towards cryptocurrencies has cooled considerably. The analysis firm believes that “this change in tone is encouraging, given that markets typically always move in the opposite direction to crowd expectations.”
What’s next: The impact of Bitcoin as an institutional asset class will be thoroughly explored at Benzinga’s Future of Digital Assets event on November 19th.
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