ETH News – Bitcoin, Ethereum, Dogecoin Continue Downward Trend: ‘Range Deviation Or Bearish Retest?,’ Wonders Technical Trader
Cryptocurrency markets are trading lower as markets continue to cope with geopolitical uncertainty.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $60,836 | -1.6% |
| Ethereum ETH/USD | $2,393 | -4% |
| Solana SOL/USD | $140.87 | -4% |
| Dogecoin DOGE/USD | $0.1034 | -3.4% |
| Shiba Inu SHIB/USD | $0.00001617 | -0.4% |
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:
Top Losers:
| Cryptocurrency | Price | Gains +/- |
| EigenLayer EIGEN/USD | $3.29 | -20.5% |
| Lido DAO LDO/USD | $1.03 | -11.2% |
| Bonk BONK/USD | $0.00002079 | -11% |
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.
Read Next:
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