Cryptocurrency markets are trading lower, with Bitcoin struggling to stay above the $90,000 mark.
Cryptocurrency | Price | Gains +/- |
Bitcoin BTC/USD | $88,093.00 | -3.3% |
Ethereum ETH/USD | $3,108.09 | -2.6% |
Solana SOL/USD | $213.75 | +0.2% |
Dogecoin DOGE/USD | $0.3876 | -1% |
Shiba Inu SHIB/USD | $0.00002487 | -1.7% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume falling by 9.5% and daily active addresses dropping by 13.4%. Transactions greater than $100,000 are down from 17,408 to 19,527 in a single day. Exchanges netflows are down by 165.7%.
- Coinglass data reports 174,278 traders were liquidated in the past 24 hours for $498.48 million.
Notable Developments:
- MiCA Regulation Expected To Drive Institutional Interest In European Crypto Market
- Bitcoin Miner Hut 8 Shares Dip Despite Strong Q3; Analysts Remain Bullish On AI, Crypto Potential
- Ben Horowitz: ‘The Biden Regulators Lied About Crypto’
- FBI Raids Polymarket CEO Over Crypto Betting Platform’s US Activities — He Fires Back: ‘In The Face Of Adversity, We Build’
Top Gainers:
Cryptocurrency | Price | Gains +/- |
Pepe PEPE/USD | $0.00002209 | 16.5% |
Brett BRETT/USD | $0.147 | 15.4% |
Kaspa KAS/USD | $0.147 | 14.6% |
Trader Notes: With Bitcoin prices dropping below the $90,000 mark, crypto chart analyst Ali Martinez sees $5.42 billion in Bitcoin profits having been realized, which pushed the sell-side risk ratio to 0.524%.
Crypto trader CrypNuevo sees a potential spike to the $95,000-$96,000 range for Bitcoin as a shorting opportunity. He anticipates a pullback when sentiment builds around reaching $100,000. For long positions, the trader plans to analyze BTC dominance (BTC.D) to decide whether to focus on Bitcoin or altcoins.
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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