Cryptocurrency markets are trading lower as markets continue to cope with geopolitical uncertainty.
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 12% and daily active addresses increasing by 17.6%. Transactions greater than $100,000 are up from 9,193 to 9,410 in a single day. Exchanges netflows are down by 55.7%.
- Coinglass data reports 77,587 traders were liquidated in the past 24 hours for $255 million.
- CoinMarketCap shows the crypto Fear and Greed Index at 39 in the fear zone, down from 56.6 last Friday.
- Crypto chart analyst Ali Martinez predicts that around $112 million in short positions will be liquidated if Bitcoin rebounds to $63,000.
Notable Developments:
- MicroStrategy’s Returns Are 3X Higher Than Bitcoin: Time to Buy?
- Bitcoin Bulls Should Watch This Crucial Level: 10x Research
- Ripple ETF: Could It Happen? Bitwise’s Filing Faces Uncertain Path Amid Regulatory Concerns
- Gary Gensler-Led SEC Scores A Win Over Crypto Firm Accused Of Securities Law Violation
Top Losers:
Trader Notes: With Bitcoin prices hovering around the $60,000 mark, Daan Crypto Trades is curious is this is a range deviation or a bearish retest. If this is the case, he thinks it could lead to a move above $64,500.
Crypto trader Rekt Capital marks two levels that are important to continue acting as support.
Looking at a different angle, crypto trader Seth stated that Coinbase had a huge spike in spot buy orders on Tuesday, suggesting possible accumulation.
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.
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