Markets
Bitcoin, Ethereum, Dogecoin Exchanges in Green as Whale Transactions Surge: “Crypto Markets Will Be Boring for the Next 2-3 Months”
Cryptocurrency markets are trading higher due to increased whale trading. The market awaits Ethereum ETF approval in a Big week of economic data aligned.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin Bitcoin/USD | $57,769.88 | +2.2% |
| Ethereum ETH/USD | $3,065.47 | +2% |
| Solana SOL/USD | $141.98 | +2.7% |
| Dogecoin DOGE/USD Price | $0.1073 | -0.5% |
| Shiba Inu SHIB/USD | $0.00001632 | -0.2% |
Notable statistics:
- IntoTheBlock data noted a 74% increase in large transaction volume, as well as transactions over $100,000, from 5,512 on July 7 to 7,867 transactions on July 8. Daily active addresses increased by 27.3%. Currently, 83% of Bitcoin holders are in a profitable position.
- Coinglass noted that 33,021 traders were liquidated in the last 24 hours, with total liquidations reaching $91.07 million.
- Sentiment Data note Bitcoin sentiment among traders on X, Reddit, Telegram, 4Chan, and BitcoinTalk shows the most bearish narratives this week in a year.
- Currently, there are 54.09 million non-empty Bitcoin wallets on the network, a net decrease of 566,000 since June 15, according to Santiment. data.
Notable developments:
Football Legend Lionel Messi’s Instagram Account Posts Unexpected Solana Meme Coin Promo
Solana jumps 5.5% as Cboe files with SEC to list VanEck, 21Shares Spot ETFs
Top winners:
| Cryptocurrency | Price | Gains +/– |
| Celestia TIA/USD | $7.16 | +17.3% |
| SEI/USD | $0.3403 | +15.5% |
| TAO/USD Bittensor | $259.07 | +12.7% |
Merchant Notes: Mustache aka El Crypto Prof note This is just a correction in Bitcoin, nothing more. He added that he had predicted the 2022 bottom and was also trying to set the macro peak for BTC. He concluded: “The macro peak has NOT been reached.”
Founder and CEO of Cryptoquant Ki-Young-Ju He pointed out that the Bitcoin miner capitulation is still ongoing. He drew a parallel with the fact that historically, it ends when the average daily value mined is 40% of the annual average; it is now 72%.
“Expect the crypto markets to be boring for the next 2-3 months,” he added.
Macroeconomist and crypto trader Seth revealed that there are 2,300 Bitcoin sell orders at $58,000, while Bitcoin is currently struggling at the resistance level.
Bitcoin CryptoCon Technical Analyst explain In a detailed article, he stated that Bitcoin’s 4-year pattern remained unchanged for 14 years until March 2024. Based on his alternative theory, he predicted that “an April 2025 top suddenly becomes on track.”
And after: The influence of Bitcoin as an Institutional Asset Class should be explored in depth in Benzinga’s next project The Future of Digital Assets event on November 19.
Read more :
Photo: Shutterstock
News and market data powered by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.