Bitcoin, Ethereum, Dogecoin Rally, As Market Sentiment Soars On Macro Data: 'Above $67,000 We Fly Like A Bird,' Claims Trader

Cryptocurrency markets on Friday are trading in the green, with the crypto king bouncing well above the $60,000 mark.

What Happened: Major cryptocurrencies are trading higher at the time of writing:

Prices as of 4 p.m. Eastern Time:

Notable Statistics:

• In the past 24 hours, 46,494 traders were liquidated, with total crypto liquidations coming in at $139.22 million, $97.4 million of those in past 12 hours.
• Total exchange inflows surged to $1.8 billion from $1.59 billion the day prior, while total exchange outflows dropped to $1.27 billion from $1.44 billion in the same timeframe.
• Spot Bitcoin ETFs reported a net $34 million outflow, alongside Hong Kong’s Bitcoin and Ethereum spot ETFs combined trading volume of $6.3 million on May 3.
• In the past 24 hours, Bitcoin whales have accumulated 47,000 Bitcoin, based on CryptoQuant data tweeted by a heavily followed trader.

Notable Developments:

• Hong Kong Spot Bitcoin ETFs Do Have A ‘Benefit,’ Bloomberg ETF Analyst Points Out
• Why Bitcoin Spiked Above $62,000 Following The April Jobs Report
• SEC Delays Decision On Bitcoin And Carbon Credit Futures ETF

Top Gainers:

Also Read: Bitcoin Headed For A ‘W-Shaped Reversal,’ Says Crypto Expert, Who Sees Altseason ‘Around The Corner’

Analyst Notes: A heavily followed crypto trader, pseudonymously known as Poseidon, in his latest tweet claims that if Bitcoin breaks $67,000, there is nothing to stop it before $88,000.

Another on-chain trader and yield strategist, Wist, notes that Bitcoin was able to return to its previous price range. He adds that the price recovery left significant liquidity behind, signalling a likely price comeback. His analysis points to two zones of imbalances at $65,800 and $68,600.

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: If Bitcoin Reclaims $62K, Trader Sees ‘Green Light For More Madness’