Bitcoin, Ethereum, Dogecoin Slide Further: 'I Wonder If Someone Knows Something,' Trader Wonders
Cryptocurrency markets are trading lower as markets await economic data releases and Nvidia earnings later this week.
Notable Statistics:
Bitcoin's large transaction volume surged 54.8%, together with a 23.6% increase in daily active addresses, according to IntoTheBlock data. Currently, 87% of Bitcoin holders are in profit as large transactions spiked from 5,665 to 7,926 in a single day.
Coinglass data shows 47,360 traders liquidated in the past 24 hours for $120.6 million.
Crypto chart analyst Ali Martinez notes Binance top traders buying the Bitcoin dip. He stated, "almost 65.22% of them are going long on Bitcoin."
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Top Gainers:
Trader Notes: Crypto Con stated that Bitcoin 2024 is the same as 2023 with a one-month lag. The trader predicted, "another local high lining up with 2023…waiting on next local low." He predicts a September recovery.
Crypto chart analyst Ali Martinez predicted that if Bitcoin can close above $65,440, the next local top will be around $86,910.
Crypto trader Jelle believes there will be a dip early next week, which could be a good opportunity. The trader added, "Hold current prices and a push towards $70,000 wouldn’t surprise me."
More Crypto Online noted Bitcoin "breaking wave 4 support today, casting doubt on its ability to complete a third wave." The prediction of $66,800 points to a tentatively bullish primary outlook. Also, for this bullish outlook to hold, wave B of wave 3 needs to stay above $57,990.
Altcoin Sherpa is curious to know if someone knows something, as there is controlled selling in last few days.
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:
The 2 Technical Analysis Scenarios For Bitcoin (And Why Ethereum Just Can’t Catch A Break)
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