Cryptocurrency markets are falling despite increasing whale trading.
Cryptocurrency price rise +/-Bitcoin BTC/USD $66,789.25-1.9%Ethereum ETH/USD $2,471.40 -2.5%Solana SOL/USD $167.86-5.4%Dogecoin DOGE/USD $0.134-5.6%Shiba Inu SHIB/USD $0.00001721-3.8%
Notable statistics:
According to IntoTheBlock data, large transaction volume increased by 12.5% and daily active addresses decreased by 6.3%. Transactions over $100,000 fell from 8,210 to 8,092 in one day. Exchange net flows decreased by 38.6%. According to data from Coinglass, 80,992 traders were liquidated in the past 24 hours, bringing the total liquidation amount to $236.73 million.
Notable developments:
Top losers:
Cryptocurrency price increase +/- Popcat POPCAT/USD $1.42-11.1%Goatseus Maximus GOAT/USD $0.6569-10.8%Pendle PENDLE/USD $4.46-8.7%
Trader Note: Following the fall in Bitcoin prices, industry expert The Moon pointed out that Bitcoin briefly plunged again to retest the upward support. “If this 4-hour candlestick closes bullishly, it could reach $70,000 soon,” he predicts.
BloFin Partner Justin Bennett marks Bitcoin’s range over the weekend and predicts a ‘chopfest’.
CryptoQuant highlights that retail Bitcoin remittance activity remains at low levels and that historically a rise in Bitcoin prices has often been preceded by declines in activity, adding remittances reached $326 million, the lowest amount since at least 2020.
Cryptocurrency trader Poseidon predicts Bitcoin will reach $80,000 by 2025.
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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