Cryptocurrency markets are spiking, with Bitcoin reaching its highest level since early August.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $65,048 | +3% |
| Ethereum ETH/USD | $2,653 | +2.8% |
| Solana SOL/USD | $156.58 | +4% |
| Dogecoin DOGE/USD | $0.1183 | +7.8% |
| Shiba Inu SHIB/USD | $0.00001841 | +18.3% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 2.1% and daily active addresses falling by 4%. Transactions greater than $100,000 are up from 8,367 to 8,415 in a single day. Exchanges netflows are down by 85.8%.
- According to Coinglass data, 63,123 traders liquidated in the past 24 hours for $149.18 million.
Notable Developments:
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Shiba Inu SHIB/USD | $0.00001841 | +18.3% |
| Wormhole (CRYPTO: W) | $0.2965 | +17% |
| Ethena ENA/USD | $0.364 | +15.3% |
Trader Notes: With Bitcoin prices trading higher beyond $65,000, crypto trader Jelle stated that the past six months were about not being shaken out, but the next six months “will be about making sure we walk away with a win.”
He advised traders to “take profits in the coming months.”
Crypto trader Bully explains that despite several rejections, Bitcoin has reached $65,000 on time. He states, “As long as $64,400 holds, we can easily expect price to fill the wick.”
Stockmoney Lizards marked Bitcoin at a 30-day high, but it is still within range and below the new all-time high set six months ago. He concluded, “October will print way greener candles. $100,000 year-end target!”
Crypto trader Skew analyzes Bitcoin on the four-hour charts. He still sees some wicks below $65,000, but if the price is maintained above the previous high there is a big daily close coming up.
Read Next:
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.