Cryptocurrency markets are trading lower as crypto liquidations dropped to their lowest since June 29.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $63,454.33 | -1.2% |
| Ethereum ETH/USD | $2,688.82 | -2.8% |
| Solana SOL/USD | $158.25 | -0.5% |
| Dogecoin DOGE/USD | $0.1054 | -4.01% |
| Shiba Inu SHIB/USD | $0.00001448 | -4.05% |
Notable Statistics:
- IntoTheBlock data shows an 11.5% decrease in large transaction volume, while daily active addresses dropped by 12%. Currently, 88% of Bitcoin holders are in profit and 6% are at breakeven.
- Coinglass data shows 58,683 traders liquidated in the past 24 hours for $123.88 million. Crypto short liquidations ($15.21 million) and Bitcoin short liquidations ($3.24 million) dropped to the lowest levels since June 29.
Notable Developments:
Top Losers
| Cryptocurrency | Price | Gains +/- |
| DOGS DOGS/USD | $0.001245 | -22% |
| Toncoin TON/USD | $5.36 | -9.5% |
| Worldcoin WLD/USD | $1.67 | -9.3% |
Trader Notes: Crypto trader Jelle predicts Bitcoin to see some minor red today/tomorrow before a “push higher.”
Crypto chart analyst Ali Martinez marks $63,500 as a support level for a bounce back to higher levels. If it breaks, a drop to $62,800 could be on the horizon.
He stated, “Learn what relative strength means. It’s all very simple. Sit back and wait don’t listen to the engagement farmers posting every 4 minutes.”
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:
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.