Cryptocurrency markets are trading lower as geopolitical tensions continue to loom over global financial markets.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $60,619.33 | -1% |
| Ethereum ETH/USD | $2,342.84 | -3% |
| Solana SOL/USD | $134.89 | -5.8% |
| Dogecoin DOGE/USD | $0.103 | -0.7% |
| Shiba Inu SHIB/USD | $0.0000159 | -3% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 13.4% and daily active addresses falling by 15.9%. Transactions greater than $100,000 are down from 9,410 to 8,750 in a single day. Exchanges netflows are down by 4,310.1%.
- Coinglass data reports 93,852 traders were liquidated in the past 24 hours for $263.49 million.
Notable Developments:
Top Losers:
| Cryptocurrency | Price | Gains +/- |
| Ethena ENA/USD | $0.2871 | -13.8% |
| Beam BEAM/USD | $0.01479 | -12.6% |
| Fantom FTM/USD | $0.6051 | -9.9% |
Trader Notes: With Bitcoin prices around the $60,000 mark, crypto chart analyst Ali Martinez marked $60,365 as the key Bitcoin level to watch. A break below this would take Bitcoin to $57,420. If this level holds, the crypto king will rebound to $63,300, according to the analyst.
CryptoCon tweeted that the Bitcoin bull market starts in two months, according to their analysis.
Santiment data pointed out that with Bitcoin dropping 9.2% since its $66,400 local high on Sep. 27, public sentiment towards crypto has cooled considerably. The analytics firm thinks this mood change is “encouraging, considering markets typically always move the opposite direction of the crowd’s expectation.”
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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