Cryptocurrency markets are closing the week strong, with Bitcoin pushing above $90,000 at the end of the U.S. trading session.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $90,792 | +1.5% |
| Ethereum ETH/USD | $3,061 | -2.3% |
| Solana SOL/USD | $213.8 | -0.5% |
| Dogecoin DOGE/USD | $0.3719 | -5.1% |
| Shiba Inu SHIB/USD | $0.00002439 | -2.7% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume falling by 14% and daily active addresses dropping by 3%.
- Coinglass data reports $453 million in liquidations, $288 million of which were liquidated long positions.
Notable Developments:
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Flare FLR/USD | $0.0207 | 46.5% |
| Algorand ALGO/USD | $0.1805 | 20.5% |
| Cardano ADA/USD | $0.6784 | 20.2% |
Trader Notes: Veteran analyst Benjamin Cowen expects Bitcoin dominance to increase for the remainder of the year. He expects a reversal only in 2025.
A poll by trader TheFlowHorse shows his audience divided over whether Bitcoin will trade above $89,500 on the weekend, with a slight 54% majority saying yes.
Technical analyst Pierre outlined the likely paths for Bitcoin in the short term: either a flip of the resistance level around $90,000, which could lead to new highs, or a visit to the bottom of the range around $85,000. In between the two prices, he expects sideways trading action.
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.
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
