Bitcoin, Ethereum, Dogecoin Go Down Yet Again: ‘Crucial Area Of Support,’ Top Analyst Warns
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Cryptocurrency markets are trading lower, with liquidations spiking over $100 million on Friday.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $64,050.37 | -1.5% |
| Ethereum ETH/USD | $3,524.78 | +0.15% |
| Solana SOL/USD | $3,524.78 | -0.84% |
| Dogecoin DOGE/USD | $0.1244 | +0.09% |
| Shiba Inu SHIB/USD | $0.0000179 | -1.4% |
Notable Statistics:
- IntoTheBlock data notes a 4% increase in large transaction volume and daily active addresses. Transactions greater than $100,000 increased from 6,794 to 7,328.
- Coinglass data highlighted 49,973 traders liquidated in the past 24 hours, with total liquidations at $124.99 million.
Notable Developments:
Top Losers:
| Cryptocurrency | Price | Gains +/– |
| LayerZero ZRO/USD | $3.13 | -12.4% |
| Dogwifhat WIF/USD | $1.83 | -9.4% |
| zkSync ZK/USD | $0.186 | -7.2% |
CryptoCon noted that Bitcoin is trending down:
Andrew Crypto, in his latest tweet, noted that Bitcoin went lower and headed to its demand zone. He suggested that it is a good place to build longs but added, “as we are heading into the weekend caution is required.”
Titan of Crypto predicted that Bitcoin’s most hated rally is incoming and expects a “last epic leg up soon.” He adds, “The market is playing with your nerve and as per usual many will be fooled by this BTC price action.”
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.
Read Next: What’s Next For Bitcoin? ‘Significant Bounce’ Or ‘Nasty Impulse Down,’ Traders Say
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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