Bitcoin, Ethereum, Dogecoin Print More Red Candles, But Top Trader ‘Can’t Be Bearish Here’

The Donald Trump-themed DJT meme coin is sending shockwaves through the crypto industry, causing the crypto market to fall again.

Cryptocurrency price Profit +/-
Bitcoin BTC/USD $64,593.68 -2.5%
Ethereum ETH/USD $3,440.87 -2.5%
Solana Sol/USD $3,440.87 -6.7%
Dogecoin DOGE/USD $0.1209 -8.1%
Shiba Inu SHIB/USD $0.00001796 -9%

Notable statistics:

  • According to data from IntoTheBlock, large-value transaction volume increased by 67.7%, with transactions over $100,000 jumping from 4,812 on June 16 to 6,958 on June 17.
  • Long liquidations totaled $286.15 million, the highest since June 7 and the highest Bitcoin long liquidations since June 11, according to CoinGlass data.
  • Early Bitcoin miners noticed By 2024, the company expects to generate about $550 million in profits from the $62,000 to $70,000 price range.

Notable developments:

Top losers:

Cryptocurrency price Profit +/
core Core/US Dollar $1.27 -19.5%
Celestia TIA/USD $6.26 -16.9%
Jupiter JUP/USD $0.7245 -16.7%
Trader Notes: Crypto chart analyst Ali Martinez commented on Bitcoin’s future price trajectory.

Cipher Capo He commented that while altcoins continue to fall, Bitcoin and Ethereum remain strong, adding, “I can’t be bearish here. I will buy more altcoins at discounted prices.”

Founder and CEO, CryptoQuant Ki Young-ju We pointed out some interesting statistics that could have an impact on the market.

  • Whales, or long-term holders of Bitcoin, have sold $1.2 billion in the past two weeks, likely through brokers.
  • The ETF had negative net inflows, with outflows of $460 million in the same period.
  • If this roughly $1.6 billion in sell-side liquidity isn’t purchased OTC, brokers may deposit their BTC on exchanges.

What’s next?: Bitcoin’s impact as an institutional asset class will be explored in depth at Benzinga’s “The Future of Digital Assets” event on November 19th.

Read next: Where do Bitcoin and Ethereum go from here?

Market news and data provided by Benzinga API

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