Cryptocurrency markets are recovering heading into the weekend as traders remain confident that the range-bound price action will eventually stabilize to the upside.
Cryptocurrency | Price | Profits +/- |
Bitcoin BTC/USD | 59,680 USD | +4.4% |
ether ETH/USD | 2620 USD | +3.3% |
Solana USD/CHF | 140.7 USD | +0.8% |
Dogecoin DOGE/USD | 0.1013 USD | +2.4% |
Shiba-Inu SHIB/USD | 0.00001325 USD | +0.4% |
- Data from IntoTheBlock shows that the volume of large Bitcoin transactions has dropped by 40% in the last 24 hours. The number of daily active addresses increased by 7%, net flows on exchanges dropped by 90%. 80% of Bitcoin holders are currently making a profit.
- Data from Coinglass shows that $158 million was liquidated in the last 24 hours, including $95 million in long liquidations.
Cryptocurrency | Price | Profits +/– |
helium HNT/USD | 7.2 USD | +10.8% |
Bitter substance TAO/USD | $276 | +7.4% |
Uniswap UNI/USD | 6.5 USD | +6.6% |
Trader notes: CoinMamba acknowledged that trading under these conditions was at “epic levels” and said, “There is no way to win.”
Analyst DonAlt stated that his gut says the market is going up, but “his mind says it’s going down.” He also believes a “cleanse” of the market is underway, but technical analysis does not yet point to a bullish development.
DonAlt expects a “deadcat bounce” for some meme coins, but suggests that investors with underwater positions should sell in that direction.
Bitcoin’s impact as an institutional asset class is expected to be explored in detail at Benzinga’s upcoming Future of Digital Assets event on November 19.
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