Cryptocurrency markets are slightly down as markets anticipate jerome Powell’s Friday guidance on potential September rate cuts.

Notable Statistics: 

IntoTheBlock data shows an 5.5% decrease in large transaction volumes and a 1.91% increase in daily active addressees.

Coinglass data noted 31,362 traders were liquidated in the past 24 hours for $95.1 million, with $59 million being liquidated long positions.

Notable Developments: 

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Top Gainers:

Trader Notes: Crypto trader Jelle remains adamant that Bitcoin is in an accumulation zone, saying “these prices won’t last forever.”

A ChimpZoo poll among his followers shows that over 40% expect “infinite chop,” meaning sideways price action, in the short term, with roughly 20% expecting a breakout or a breakdown, respectively. The remaining 20% voted just to see the results.

Crypto trader Scient noted Bitcoin is getting rejected from the fourth supply zone at $61,500 – $62,000. The trader is more bullish than bearish and plans to take a long position if we get a strong close above $62,000.

More Crypto Online noted that Bitcoin has yet another day of sideways trading, as it fails to break through recent highs. It marked the range boundaries are approximately $56,290 to $61,900.

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: 

What A Potential Gensler Appointment As Treasury Secretary Could Mean For Crypto Prices

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