Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»Bitcoin, Ethereum, Dogecoin Trade Lower Following Inflation Data: ‘Pray $58K-$59K Holds Or Else It’s Nuke City For Bitcoin Baby’ – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)
    Cryptocurrency

    Bitcoin, Ethereum, Dogecoin Trade Lower Following Inflation Data: ‘Pray $58K-$59K Holds Or Else It’s Nuke City For Bitcoin Baby’ – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)

    October 10, 20242 Mins Read


    Cryptocurrency markets are trading lower as Bitcoin ETFs clocked a second consecutive day of outflows on Wednesday while Spot Ethereum flows remaining muted.

    Cryptocurrency Price     Gains +/-
    Bitcoin BTC/USD  $59,579.75 -2.4%
    Ethereum ETH/USD  $2,360.93 -2.3%
    Solana SOL/USD  $137.54 -2.1%
    Dogecoin DOGE/USD  $0.1044  -3.9%
    Shiba Inu SHIB/USD  $0.00001643   -3.4%

    Notable Statistics:

    • IntoTheBlock data shows large transaction volume decreasing by 25.7% and daily active addresses falling by 18.8%. Transactions greater than $100,000 are down from 9,459 to 7,555 in a single day. Exchanges netflows are down by 79.4%.
    • Coinglass data reports 71,977 traders were liquidated in the past 24 hours, with the total liquidations at $251.47 million.
    • Axel Adel Jr, CryptoQuant author, reported that 1.5 million BTC has been accumulated by whales over the last six months.

    Notable Developments:

    Top Gainers:

    Cryptocurrency Price     Gains +/-
    Uniswap UNI/USD  $8.05 +10.5%
    Popcat (SOL) POPCAT/USD  $1.21 +3.9%
    MANTRA OM/USD  $1.40 +2.3%

    Trader Notes: With Bitcoin prices dropping below the $60,000 mark, Santiment detailed that Bitcoin’s fall to as low as $58,900 is identified as a “dip buy opportunity” by traders. He indicated that sentiment was shifting to a bullish outlook, especially following the U.S. CPI report that suggests potential rate cuts are still on the table.

    Crypto trader Andrew Crypto presents two potential scenarios for Bitcoin. The most probable outcome is a decline to the support level of $52,000, which could serve as the final flush before the parabolic run.

    The second scenario is the ultra-bull scenario with support at the $57,000/$60,000 demand zone.

    $BTC Analysis, what’s next?

    Two possible scenarios:

    Market News and Data brought to you by Benzinga APIs

    © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

    Benzinga simplifies the market for smarter investing

    Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.






    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Fake Uber Driver in London Drugs US Tech Investor with Cigarette, Steals £96K in Cryptocurrency

    Cryptocurrency

    SEC Dismisses Lawsuit against Binance

    Cryptocurrency

    India’s Digital Payment Surge: Currency and Convenience

    Cryptocurrency

    Appeal against important court ruling about cryptocurrency in South Africa – MyBroadband

    Cryptocurrency

    CoinClinic: What is Cryptocurrency? – Numismatic News

    Cryptocurrency

    DOL Rescinds 2022 Guidance Cautioning Against 401(k) Plan Investments in Cryptocurrencies | Proskauer – Employee Benefits & Executive Compensation Blog

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Commodities

    What’s Behind the Expected Growth in the Agricultural Drone Market

    Commodities

    Building Resilient Agricultural System – Rising Kashmir

    Commodities

    MDS’s SCRAPMASTER 400 is designed for scrap metal recyclers

    Editors Picks

    The role of digital currency in boosting financial inclusion

    May 26, 2025

    Entreprises. GEM lance un nouveau master gastronomie/luxe, 900.care pulvérise son score B Corp… leur actu en bref

    May 28, 2025

    Sidilarsen et Waking The Sleeping Bear à Echo system

    March 31, 2025

    “Un sentiment de bonheur, de plaisir !” : le groupe Gold en concert en Aveyron, là où tout a commencé

    April 14, 2025
    What's Hot

    Vizsla Silver interrompt temporairement ses travaux sur le terrain dans le cadre du projet Panuco

    April 4, 2025

    Stock Market Outlook: Lower Inflation Drives Goldilocks Growth Economy

    July 15, 2024

    Lani Hayes: The Financial Strategist Behind High-Value Art Investments

    January 23, 2025
    Our Picks

    la fin de la frustration du Paris Saint-Germain version Qatar?

    May 29, 2025

    Geneos Wealth Management Inc. Raises Stock Holdings in Aberdeen Standard Physical Silver Shares ETF (NYSEARCA:SIVR)

    July 13, 2024

    How 3 Recent High Court Rulings Could Shape Fintech Policy

    August 7, 2024
    Weekly Top

    Ambiance rock garantie au Puy-Sainte-Réparade avec le groupe pop rock Silver Fox au château La Coste

    June 1, 2025

    Quand le métal devient métaphore de l’élévation : le 71e congrès des Compagnons serruriers du Devoir a réuni plus de 500 personnes à Nîmes

    June 1, 2025

    Dividend & Stock Split: TCS, Tata Motors, Coforge Among Shares To Trade Ex-Date This Week

    May 31, 2025
    Editor's Pick

    Olympics LIVE: Keely Hodgkinson eyes 800m gold as Team GB break world record in cycling sprint

    August 5, 2024

    FG Urges Youths To Embrace Agricultural Opportunities

    February 27, 2025

    Pyracanda – Losing Faith Review

    October 13, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.