Cryptocurrency markets are down Grayscale is introducing a new Bitcoin ETF.

Notable Statistics:

• IntoTheBlock data shows a 144.9% spike in large transaction volumes. Daily active addresses increased by 33.9%. Transactions greater than $100,000 surged from 5,369 to 9,609. Exchanges netflows widened significantly by 903.7%.
• Coinglass data points to Bitcoin open interest increasing to $37.5 billion, the highest since June 7. In the past 24 hours, 44,891 traders were liquidated for $123.81 million.
• Crypto chart analyst Ali Martinez noted that Bitcoin holders are rapidly buying, with more than 110,000 BTC in their portfolios.

Notable Developments:

• Russia Greenlights Crypto For Cross-Border Payments, Tightens Mining Rules
• SEC Aims To Amend Binance Complaint, Focusing On Third Party Crypto Asset Securities
• New US Bitcoin Mining Hardware Creates $20B Opportunity, Could Disrupt China's Mining Dominance: Bernstein
• Bitcoin As Store Of Value? Goldman Sachs CEO David Solomon Sees Such A Case

Top Losers:

Trader Notes: Crypto chart analyst Ali Martinez highlighted Bitcoin's hourly chart signaling a correction before the BTC dropped to $65,500. He added that the chart is now flashing a buy signa, suggesting a potential rebound if BTC can sustain an hourly close above $66,300.

Trader Rekt Capital foresees Bitcoin on track for a September breakout.

Crypto Patel stresses that Bitcoin breaking the $66,000 support level could mean a drop to $63,000. Mister Crypto shows a rare Bitcoin signal which is indicating a "new move...about to be initiated."

Altcoin Sherpa suggests a buying opportunity at this level.

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:

• 'Trump Trade' Is 'Long Bitcoin, Long Small Caps,' Says Trader...But What Is The 'Kamala Trade'?

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