Bitcoin, Ethereum, Dogecoin trading sideways: 'Support at $66,500 needs to hold,' says trader, warns $61,000 could be next – Gray Scale Bitcoin Mini Trust (BTC) Common Unit of Fractional Undivided Beneficial Interest (ARCA:BTC)

Cryptocurrency markets are trading sideways on Tuesday.

Notable statistics:

• According to IntoTheBlock data, large transaction volume increased by 78.9% and daily active addresses decreased by 4.6%. Transactions over $100,000 increased from 5,769 to 8,957 in one day. Exchange net flows fell by 151%.
• According to Coinglass data, 57,215 traders liquidated for $165.97 million in the past 24 hours.

Notable developments:

Top losers:

Trader notes: Bitcoin prices are relatively flat, with industry expert Justin Bennett seeing support in the $65,000-$66,000 range, but he is cautious about bidding after Monday's move.

Although he finds the monthly open attractive, he advises against ruling out a drop to $60,000 before the pullback ends. Traders are holding short positions for now, waiting to see how the market develops.

Castillo Trading outlines a clear setup for Bitcoin, emphasizing that $66,500 is a key support level and should be held.

If this breaks, the next target for long entry is $61,065 based on naked point of control (nPOC) prints. The trader sees this as a discounted long entry opportunity and is open to lower prices.

Meanwhile, CrediBULL Crypto believes Bitcoin's current highs are likely to arrive and expects sideways or choppy moves to occur on lower time frames before the downtrend continues. . They expect further market consolidation to occur before prices fall.

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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