Cryptocurrency markets are trading lower despite bullish indicators like positive spot Bitcoin ETF flows, the surge in exchange netflows and a spike in whale transactions.
Cryptocurrency
Price
Gains +/-
Bitcoin (CRYPTO: BTC)
$61,800.59
-2.3%
Ethereum (CRYPTO: ETH)
$3,408.61
-1.8%
Solana (CRYPTO: SOL)
$152.30
+3.3%
Dogecoin (CRYPTO: DOGE)
$0.1243
-0.7%
Shiba Inu (CRYPTO: SHIB)
$0.00001714
-0.7%
Notable Statistics:
IntoTheBlock data notes a 5,254.5% surge in exchange net flows, an 84% increase in large transaction volume and a 33.7% expansion in daily active addresses. Transactions greater than $100,000 surged to 9,770 transactions on July 1 from 5,819 the previous day.
Coinglass data notes Bitcoin liquidations at low levels, with long and short liquidations at $12.8 million and $4.1 million, respectively.
Crypto chart analyst Ali Martinez noted that Bitcoin retail investors are returning with new Bitcoin addresses hitting a four-month high of 432,026.
Bloomberg analyst Jeff Seyffart noted that the U.S. Bitcoin ETF group's trading volume is on a downtrend. It has not been able to hit $3 billion since mid-May.
Notable Developments:
Bitcoin To Hit $100K By US Election: Standard Chartered
Iris Energy Secures $413M For Bitcoin Mining Expansion
German Government Sells Another $17M In Bitcoin
Robinhood Reportedly Considers Expanding Into Cryptocurrency Futures Markets
Arthur Hayes Says 'Bitcoin Is Superior, Whereas Gold Is Inferior' — Here's Why
Top Losers:
Cryptocurrency
Price
Gains +/–
Pendle (CRYPTO: PENDLE)
$4.33
-14%
Aave (CRYPTO: AAVE)
$90.9
-8.3%
Bittensor (CRYPTO: TAO)
$260.29
-8%
Trader Notes: Looking at Bitcoin's relatively flat performance, Crypto Tony tweeted that it is another boring day for Bitcoin. "Looking for exciting opportunities elsewhere for now," the trader writes. Michaёl van de Poppe predicted a "mega bearish divergence on Bitcoin dominance chart" implying a reversal. Titan Of Crypto, in his latest tweet, predicted that Bitcoin's price target is at $123,000 based on a bullish cup and handle continuation pattern currently formed on the weekly timeframe.
Crypto investor Quinten Francois outlines Bitcoin's growth trajectory after the fourth halving:
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.
Image: Shutterstock
Bitcoin, Ethereum ETF Inflows 'Will Change The Mood Completely,' Says Trader: 'Up Often, Up Only'
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。