Cryptocurrency markets are trading down again, as the Donald Trump-themed DJT meme coin causes shockwaves in the crypto industry.
| Cryptocurrency | Price | Gains +/- |
| 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:
- IntoTheBlock data shows a 67.7% increase in large transaction volume, while transactions greater than $100,000 spiked from 4,812 on June 16 to 6,958 on June 17.
- Coinglass data notes long liquidations at $286.15 million, which is the highest since June 7, with Bitcoin long liquidations at the highest since June 11.
- Early Bitcoin miners realized a profit of around $550 million in 2024 in the $62,000 to $70,000 price range.
Notable Developments:
Top Losers:
| Cryptocurrency | Price | Gains +/– |
| Core CORE/USD | $1.27 | -19.5% |
| Celestia TIA/USD | $6.26 | -16.9% |
| Jupiter JUP/USD | $0.7245 | -16.7% |
Capo of Crypto commented that while altcoins keep bleeding, Bitcoin and Ethereum remain strong. He added, “I can’t be bearish here. Buying more alts at a discount.”
CryptoQuant Founder & CEO Ki Young Ju pointed to some interesting statistics that are likely to impact the market.
- Bitcoin long-term holder whales sold $1.2 billion in the past 2 weeks, likely through brokers.
- ETF netflows are negative, with $460 million outflows in the same period.
- If this ~$1.6 billion in sell-side liquidity isn’t bought OTC, brokers may deposit BTC to exchanges.
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: Where Do Bitcoin And Ethereum Go From Here?
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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