Cryptocurrency markets are up ahead of the Trump-Biden U.S. Presidential election debate, with a Solana spot ETF application as the main catalyst.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $61,464.37 | +1% |
| Ethereum ETH/USD | $3,449.60 | +2% |
| Solana SOL/USD | $148.18 | +8.5% |
| Dogecoin DOGE/USD | $0.1244 | +0.6% |
| Shiba Inu SHIB/USD | $0.0000175 | +1.5% |
Notable Statistics:
- IntoTheBlock data noted a 15.9% increase in large transaction volume. However, exchange netflows plunged by 196.5% in a single day.
- Coinglass data noted 34,732 traders liquidated for $91.8 million in the past 24 hours.
- Radar showed that BlackRock purchased Bitcoin for its Global Allocation Fund based on SEC filing. This marks it as the third internal BlackRock fund that has purchased Bitcoin through its IBIT Bitcoin ETF.
Notable Developments:
- Coinbase Sues SEC And FDIC Over Alleged Attempts To Stifle Crypto Industry
- CleanSpark Announces GRIID Infrastructure Takeover Deal: Digging Into The Details
- VanEck Files Solana ETF Application, SOL Rallies 6%
- China’s Crypto Mining Ban Was ‘Very Unwise,’ Says Hong Kong Academic
Top Gainers:
| Cryptocurrency | Price | Gains +/– |
| Book Of Meme BOME/USD | $0.01048 | +15.6% |
| Akash Network AKT/USD | $3.33 | +11.9% |
| Conflux CFX/USD | $0.1745 | +11.9% |
Trader Notes: Crypto chart analyst Ali Martinez cautions investors, highlighting that if Bitcoin drops to $60,700 around $22 million will be liquidated.
MaxBecauseBTC, in his latest Bitcoin analysis, noted that Bitcoin "divided by the M1 money supply has a tremendous amount of signal." The trader adds that price has broken out of every major HTF top & bottom range and has "just finished retesting the range high."
The tweet concludes, "When price breaks out of a multi-year range, it’s not a small move that follows. Very bullish."
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: Top Trader Is Long Bitcoin, Ethereum, Short Litecoin, Cardano…And Thinks Shiba Inu’s Time Has Passed
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
