Bitcoin, Ethereum, Dogecoin In Green Ahead Of FOMC Meeting: 'Market Gearing Up For Sell-The-News Candle Tomorrow'

Cryptocurrency markets are trading higher ahead of Wednesday’s interest rate decision.

Notable Statistics:

• IntoTheBlock data shows a 55% increase in Bitcoin's large transaction volume and a 6.4% spike in daily active addresses. Transactions greater than $100,000 widened from 6,005 to 7,493 in a single day.
• Coinglass data noted 46,219 traders were liquidated in the past 24 hours as total liquidations stood at $125.31 million.

Notable Developments:

• Singapore’s DBS Bank Launches Bitcoin And Ethereum Options Trading For Institutional Clients
• Donald Trump’s New Crypto Project World Liberty Financial: Everything You Need To Know
• Bitcoin, Ethereum, Dogecoin Pump 5%: Here’s What Wednesday’s Fed Rate Cut Decision Could Mean For Crypto
• Howard Winklevoss Donates $4M In Bitcoin To Grove City College
• CleanSpark Acquires New Bitcoin Mining Sites: What’s Going On With The Mining Stock Tuesday?

Top Gainers:

Trader Notes: IntoTheBlock stated that as Bitcoin is chasing the $61,000 mark, traders should watch out for $64,000 as the key level, where 1.57 million addresses are currently holding at a loss.

The price spike led crypto trader Jelle to predict that a break above the dotted line could lead to "Q4 turbo bull thesis…a reality."

In another tweet, Jelle sees that the market is gearing up for a sell-the-news candle tomorrow. He noted that this could be the most important FOMC event in a long time.

Stockmoney Lizards predicts that a weekly close above $60,000 will lead to a bullish flip and an expected consolidation at $60,000/$61,000 before heading towards $65,000. He also marked BTC making a new short-term high.

Crypto Rover highlighted a chart to show BTC movement the last time rates were cut by 50 basis points.

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: 

• Bitcoin Gearing Up For Next Bull Run? On-Chain Analysis Says It Just Might Be

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