Bitcoin, Ethereum flat, Dogecoin rising as stocks hit new records: Top analysts expect King Crypto to hit new highs within 3-4 weeks and hit $90,000 by year-end – Grayscale Bit Coin Mini Trust (BTC) Common unit of undivided beneficial interest (ARCA:BTC)

Bitcoin The king of meme coins has put brakes on its rise, dogecoin, It was one of the biggest gainers on Wednesday.

what happened:The world's largest virtual currency In the early morning hours, it rose above $68,000, the highest level since the last week of July.

However, the bulls then faced stiff resistance and ended up trading sideways in the high $67,000s.

Dogecoin surged more than 7%, becoming the best-performing $1 billion market cap coin in the past 24 hours.

“BTC remains resilient above the $65,000 level as betting markets point to rising odds of Trump victory,” the digital asset trading company said. QCP Capital Said.

Total cryptocurrency liquidations reached $126.32 million in the past 24 hours, after hitting a two-week high the previous day. More than $72 million in bullish bets are gone.

Bitcoin open interest has increased by 3.20% in the past 24 hours. A rise in OI and sideways movement in price indicates a potential breakout.

According to the Crypto Fear & Greed Index, market sentiment remained “greedy”.

Top Gainers (24 hours)

Global cryptocurrencies increased by 0.63% in the past 24 hours to $2.32 trillion.

The stock rebounded from Tuesday's retrace to close at an all-time high. of Dow Jones Industrial Average It soared 337.28 points (0.79%) to close at a new high of 43,077.70. of S&P500 The stock gained 0.47% to end at 5,842.47, with many tech stocks. Nasdaq Composite It rose 0.28% to close at 18,367.08.

major bank morgan stanley M.S. Shares rose 6.51% in Wednesday trading after third-quarter profit beat expectations.

Traders are pricing in a 92% chance of a 25 basis point (bp) rate cut at next month's FOMC meeting, according to the CME FedWatch tool.

See more: best cryptocurrency scanner

Analyst notes: On-chain analytics company Santimento Highlighted the astronomical spike in Bitcoin whale trading this week.

Moreover, the conversation surrounding the top cryptocurrency spiked as it broke above $68,000 for the first time since July.

“Both of these signals are signs that the rally could stall due to profit-taking by key stakeholders and mass FOMO,” Santiment said, adding that any return could be short-lived. He stated that it is likely to happen.

Widely Followed Cryptocurrency Analyst michael van de poppe We expected King Crypto to reach new all-time highs in the coming weeks.

He added: “This will happen over the next three to four weeks and by the end of the year we'll be at an all-time high, probably $90,000.”

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