Bitcoin and Ethereum Surge as Crypto Markets See Strong Trading Day
The cryptocurrency market is experiencing a surge, with Bitcoin ETFs recording another strong trading day. Data from IntoTheBlock shows a 60.7% increase in large transaction volume and a 17% increase in daily active addresses. Transactions exceeding $100,000 jumped from 10,856 to 17,022 in a single day, while exchange netflows decreased by 410.7%.
Coinglass data reports that 269,145 traders were liquidated in the past 24 hours, amounting to $938.44 million. Crypto long liquidations of $527.4 million were the highest since August 5th. Open interest spiked to $54.3 billion.
Raoul Pal Predicts Bitcoin's Rise and Ethereum's Potential Outperformance
Raoul Pal, a renowned investor, has predicted that Bitcoin could reach $250,000. However, he believes that Ethereum could potentially outperform Bitcoin under a Donald Trump administration.
Bitcoin Miners Report Earnings as Crypto Future Looks Bright
Bitcoin miners Hive Digital, Hut 8, and Bitfarms are set to report earnings amidst a promising future for cryptocurrency.
Bitcoin ETFs See Record Inflow
Bitcoin ETFs have experienced a record inflow of $1.1 billion, raising questions about the driving forces behind this surge.
German Government's Missed Opportunity with Bitcoin
The German government's decision to sell its Bitcoin holdings has sparked discussions about the potential missed opportunity.
Trader Predictions and Market Analysis
Crypto traders The Moon and Pentoshi have shared their predictions for Bitcoin's price movement. The Moon believes that a break above $90,000 today could lead to a rapid rise to $100,000 tomorrow. Pentoshi, on the other hand, anticipates pullbacks for altcoins, recommending keeping cash on hand for potential buying opportunities.
More Crypto Online highlights Bitcoin's current support level at $85,210 and identifies the key support at the 50% retracement level of $83,881. The trader sees a potential target between $92,000 and $95,000 before a possible wave (4) starts.
The Future of Digital Assets
The upcoming Benzinga's Future of Digital Assets event on November 19th will delve into the growing influence of Bitcoin as an institutional asset class. Industry experts predict an exciting "euphoria" stage for Bitcoin, Ethereum, and Dogecoin in the bull market's "most fun phase.