Cryptocurrency markets saw volatile trading on Friday despite growing interest in spot ETFs.
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 4.6% and daily active addresses falling by 0.3%. Transactions greater than $100,000 are up from 13,516 to 13,885 in a single day. Exchanges netflows are down by 312.3%.
- Coinglass data reports 327,657 traders were liquidated in the past 24 hours for $963.51 million.
Notable Developments:
- Kim Jong Un’s North Korea-Linked Hackers Steal $1.3B In Bitcoin And Other Cryptocurrencies In 2024: Report
- Rattled ‘Hawk Tuah Girl’ Haliey Welch Resurfaces After Meme Coin Scandal: ‘I Take This Situation Extremely Seriously’
- Shytoshi Kusama Shares ‘Huge News’ As Shiba Inu Partners With Chainlink To Boost Shibarium, Ecosystem Tokens
- El Salvador Buys Bitcoin Dip, Scoops $1 Million Worth Of BTC A Day After IMF Urges Scaling Back
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Ethena (CRYPTO: ENA) | $1.20 | +25.7% |
| Hyperliquid (CRYPTO: HYPE) | $29.23 | +23% |
| Virtuals Protocol (CRYPTO: VIRTUAL) | $2.67 | +21.8% |
Trader Notes: With Bitcoin prices dropping, Stockmoney Lizards explained that after recent liquidations of leveraged long positions, the crypto king's market has cleared out downside liquidity.
The focus now shifts to upside potential, with a gradual trend upwards toward the major resistance level of $100,000 being a likely scenario.
Daan Crypto Trades noted Bitcoin’s green daily close and highlighted the importance of maintaining momentum for a strong weekend finish.
Altcoin Sherpa shared a chart suggesting a logical pattern for Bitcoin’s trajectory in the coming weeks.
Emperor reflected on a successful trading strategy since $49,000, focusing on buying dips caused by excessive leverage and selling pumps.
While this approach yielded gains, the recent drop to $92,000 marked the first loss this season.
Despite the setback, the last three months provided ample opportunities to double capital, even if this signifies a potential Christmas sell-off or market top.
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