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Cryptocurrency markets could not continue their uptrend initiated by surprisingly strong ETF data on Friday.
What Happened: Major cryptocurrencies are trading lower at the time of writing:
Prices as of 4 p.m. Eastern Time:CryptocurrencyGains +/-PriceBitcoin BTC/USD -1.18%$63,119.77Ethereum ETH/USD -2.5%$3,065.67Solana SOL/USD +4.8%$153.09Dogecoin DOGE/USD -3.1%$0.1571Shiba Inu SHIB/USD -3%$0.00002399
Notable Statistics: In the past 24 hours, 66,592 traders were liquidated. Total liquidations tallied $189.94 million, with $158.2 million coming in the past 12 hours. Bloomberg analyst Eric Balchunas points out that more than 95% of ETF investors HOLD-ed during the nasty and persistent downturn. Total exchanges outflows witnessed a significant drop from $883.03 million to $453.2 million in single day. Michael Saylor's MicroStrategy holds 214,400 Bitcoin, worth $13.6 billion, which is more than any country.
Notable Developments:Loading… Loading… Bitcoin Hits One Billion Transactions Amid Weekend Rebound 15 Years After Satoshi Nakamoto Created It But Was It Faster Than Ethereum? Coinbase Hires Ex-Mayors To Bridge Crypto And Policy Divide Robinhood Receives Wells Notice From SEC Over Crypto Business
Top Losers:CryptocurrencyGains +/-PriceBonk BONK/USD -6.4%$0.00002507Conflux CFX/USD -5.3%$0.2195Nervos Network CKB/USD -5%$0.01819
Also Read: Sell Bitcoin In May And Go Away? Heres How How You Could Have Pocketed A 1,449% Cumulative Return
Analyst Notes: Heavily followed Bitcoin expert Max Keiser, in his latest tweet, commented how the U.S. is killing the dollar through a Bitcoin speculative attack. He wrote that the U.S. economy is no longer competitive and Bitcoin is the escape hatch."
Whats Next: The influence ofBitcoin as an institutional asset classis expected to be thoroughly explored at Benzingas upcomingFuture of Digital Assetsevent on Nov. 19.
Read Next: Bitcoin Could Still Have A Correction Down, Cautions Lark Davis: Lets Not Get Ahead Of Ourselves
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