Bitcoin, Ethereum, Dogecoin Trade Sideways After BTC Spike To $68K: Is The Same Pattern Playing Out For A Fourth Straight Time?
By Benzinga
Cryptocurrency markets are trading relatively flat after a mid-day spike amid Donald Trump’s rising election odds.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin (CRYPTO: BTC) | $66,756.23 | +1.2% |
| Ethereum (CRYPTO: ETH) | $2,584.21 | -1.4% |
| Solana (CRYPTO: SOL) | $154.66 | -0.6% |
| Dogecoin (CRYPTO: DOGE) | $0.1146 | -0.7% |
| Shiba Inu (CRYPTO: SHIB) | $0.00001806 | -0.8% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 73.8% and daily active addresses growing by 17.4%. Transactions greater than $100,000 are up from 5,104 to 9,217 in a single day. Exchanges netflows are down by 2,523%.
- Coinglass data reports 97,280 traders were liquidated in the past 24 hours for $312.03 million. Crypto long liquidations of $169.4 million are the highest since Oct.2.
Notable Developments:
- ‘Asia’s Microstrategy’ Metaplanet Buys Another 107 Bitcoin: Here’s How Big Its Pile Has Grown
- Donald Trump’s World Liberty Financial Token Sales Hit $220M In First Hour, Website Faces Multiple Outages
- Tokenization On Track To Reach Trillion-Dollar Market By 2030, Says Industry Expert
- Anthony Pompliano Predicts Tesla’s Automation Tech Will Spike Stablecoin Adoption: ‘People Don’t Want To Spend Their Bitcoin’
- Bitcoin Spot ETFs Saw $555.8M Net Inflows On ‘Monster’ Monday
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| cat in a dogs world (CRYPTO: MEW) | $0.008708 | +8.4% |
| Fantom (CRYPTO: FTM) | $0.7717 | +6.4% |
| Beam (CRYPTO: BEAM) | $0.01748 | +6.3% |
Trader Notes: With Bitcoin prices crossing the $66,000 mark, Smiley Capital said its time for “more bullish propaganda.” The trader pointed out a pattern that has held for the last three Bitcoin bull runs.
Cold Blooded Shiller suggests that Bitcoin is approaching a critical battle zone on the weekly chart. Indicators on the Daily chart, such as the RSI at 67 show stalling momentum. If Bitcoin breaks above this level, it will confirm a shift in market momentum, signaling that bulls are in control.
The analyst predicts that if the market enters the “overbought” zone for the first time in 7 months, it could stay there for a while, potentially pushing Bitcoin to $100,000 and beyond. This shift would mark a significant technical breakout.
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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Image: Shutterstock
