Cryptocurrency markets were trading well on Friday, with the crypto tycoon soaring well above the $60,000 mark.
what happened: At the time of writing, major cryptocurrencies are trading high.
Prices as of 4pm ET:
| cryptocurrency | Gain +/- | price |
| Bitcoin | +4.5% | $61,753.69 |
| Ethereum | +2.8% | $3,069.03 |
| Solana | +2.8% | $141.64 |
| dogecoin | +5.6% | $0.1401 |
| Shiba Inu | +4.4% | $0.00002398 |
Notable statistics:
- 46,494 traders were liquidated in the last 24 hours, bringing the total amount of crypto liquidations to $139.22 million, of which $97.4 million was liquidated in the last 12 hours.
- Total foreign exchange inflows surged to $1.8 billion from $1.59 billion the previous day, while total foreign exchange outflows decreased to $1.27 billion from $1.44 billion in the same period.
- The Spot Bitcoin ETF reported net outflows of $34 million, and the total trading volume of the Hong Kong Bitcoin and Ethereum Spot ETF on May 3 was $6.3 million.
- Based on CryptoQuant data tweeted by a trader, Bitcoin whales have accumulated 47,000 Bitcoins in the past 24 hours.
Notable developments:
Top gainers:
| cryptocurrency | Gain +/- | price |
| oldi | +16.1% | $41.13 |
| hedera | +15.6% | $0.1141 |
| pendle | +12.1% | $5.02 |
Also read: Bitcoin is headed for a “W-shaped reversal,” says a crypto expert who sees the alt season as “just around the corner”
Analyst notes: He is a highly followed cryptocurrency trader known as . poseidonhis latest tweet claims that if Bitcoin breaks through $67,000, there's nothing to stop it before $88,000.
$BTC H4
Price rallied above the range low and showed first signs of a bottom, but price still needs to do more than this. If it can rise above the H4 ema200 again, it will be a sign of a trend reversal.
Above $67,000 we take flight like birds, but nothing can stop us until $88,000. pic.twitter.com/DOJqSbzJec
Another on-chain trader and yield strategist, Whistpoints out that Bitcoin was able to return to its previous price range. He added that the price recovery has left significant liquidity, suggesting that prices may recover. His analysis points out two imbalance zones: $65,800 and $68,600.
what's next: The impact of Bitcoin as an institutional asset class will be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on November 19th.
Read next: If Bitcoin regains $62,000, traders see 'green light for more madness'
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
