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    Home»Cryptocurrency»Bitcoin, Ethereum, Dogecoin Slide Further: ‘I Wonder If Someone Knows Something,’ Trader Wonders
    Cryptocurrency

    Bitcoin, Ethereum, Dogecoin Slide Further: ‘I Wonder If Someone Knows Something,’ Trader Wonders

    August 27, 20242 Mins Read


    Cryptocurrency markets are trading lower as markets await economic data releases and Nvidia earnings later this week.

    Cryptocurrency Price Gains +/-
    Bitcoin BTC/USD $62,095.80 -2.3%
    Ethereum BTC/USD $2,589.24   -3.9%
    Solana SOL/USD $154.87 -2.2%
    Dogecoin DOGE/USD $0.1045 -0.9%
    Shiba Inu SHIB/USD $0.00001447 -0.2%

    Notable Statistics:

    • Bitcoin’s large transaction volume surged 54.8%, together with a 23.6% increase in daily active addresses, according to IntoTheBlock data. Currently, 87% of Bitcoin holders are in profit as large transactions spiked from 5,665 to 7,926 in a single day.
    • Coinglass data shows 47,360 traders liquidated in the past 24 hours for $120.6 million.
    • Crypto chart analyst Ali Martinez notes Binance top traders buying the Bitcoin dip. He stated, “almost 65.22% of them are going long on Bitcoin.”

    Notable Developments:

    Top Gainers:

    Cryptocurrency Price Gains +/-1
    Helium HNT/USD $7.13 +8.2%
    Floki FLOKI/USD $0.0001577 +5.9%
    Notcoin NOT/USD $0.009033 +4.2%

    Trader Notes: Crypto Con stated that Bitcoin 2024 is the same as 2023 with a one-month lag. The trader predicted, “another local high lining up with 2023…waiting on next local low.” He predicts a September recovery.   

    Crypto chart analyst Ali Martinez predicted that if Bitcoin can close above $65,440, the next local top will be around $86,910.

    Crypto trader Jelle believes there will be a dip early next week, which could be a good opportunity. The trader added, “Hold current prices and a push towards $70,000 wouldn’t surprise me.”

    More Crypto Online noted Bitcoin “breaking wave 4 support today, casting doubt on its ability to complete a third wave.” The prediction of $66,800 points to a tentatively bullish primary outlook. Also, for this bullish outlook to hold, wave B of wave 3 needs to stay above $57,990.

    Altcoin Sherpa is curious to know if someone knows something, as there is controlled selling in last few days.

    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.



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