The crypto market is on the rise as BlackRock's Bitcoin ETF piled up $1 billion in BTC this week.
| cryptocurrency | price | Gain +/- |
| Bitcoin BTC/USD | $68,954.45 | +2.9% |
| Ethereum ETH/USD | $2,665.94 | +2.9% |
| Solana Sol/USD | $156.04 | +5% |
| dogecoin doge/usd | $0.1388 | +14.2% |
| Shiba Inu SHIB/USD | $0.00001889 | +6.6% |
Notable statistics:
- According to IntoTheBlock data, large transaction volume is down 16.4% and daily active addresses are up 19.9%. Transactions over $100,000 increased from 9,147 to 8,458 in one day. Exchange net flows decreased by 231.4%. Approximately 98% of Bitcoin holders are currently profitable, and 3% have reached the break-even point.
- According to data from Coinglass, 37,689 traders were liquidated in the past 24 hours, bringing the total liquidation amount to $113.04 million.
- Simply Bitcoin reported that Bitcoin foreign exchange reserves are at an all-time low and predicts a “supply shock is coming.”
- According to data from IntoTheBlock, Bitcoin's dominance has exceeded 65% for the first time since the beginning of 2021 (a three-year high).
Notable developments:
Top gainers:
| cryptocurrency | price | Gain +/- |
| dogecoin doge/usd | $0.1388 | +14.2% |
| world coin WLD/USD | $2.40 | +13.6% |
| beam beam/usd | $0.01774 | +12.8% |
Trader notes: With Bitcoin price above the $68,000 mark, Recto Capital believes the crypto tycoon is pushing towards a key resistance level and a daily close above this area is important to confirm a breakout. He pointed out that.
He expects that a close above resistance may indicate that the rally may be sustained, while a close above resistance may indicate limited upside momentum. There is.
Cryptocurrency trader Daan Crypto Trades noted that Bitcoin is approaching the $70,000 level, just about 7% off its all-time high.
There are about two weeks left until the US presidential election, and market movements may be significantly influenced by election-related trends in the short to medium term. Significant changes in polls or news updates can have an increasing impact on Bitcoin's price trajectory.
Cryptocurrency trader Miles Deutscher points out that while gold has soared past its yearly high, Bitcoin is lagging behind. If it follows the same pattern as gold, this suggests a potential rally for Bitcoin to $96,000 (+30% all-time high).
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.
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