2024-11-06 20:45:14 by Benzinga

Cryptocurrency markets are trading higher as Donald Trump secured a second term in the presidential election. CryptocurrencyPrice    Gains +/-Bitcoin BTC/USD $75,833.12+9.5%Ethereum ETH/USD $2,682.34 +11%Solana SOL/USD $188.34+14.3%Dogecoin DOGE/USD $0.1952+15.9%Shiba Inu SHIB/USD $0.00001883+6%Notable Statistics: IntoTheBlock data shows large transaction volume increasing by 14.5% and daily active addresses falling by 4.4%. Transactions greater than $100,000 are up from 8,295 to 9,141 in a single day. Exchanges netflows are down by 171.8%. Coinglass data reports 128,336 traders were liquidated in the past 24 hours for $581.68 million. Crypto short liquidations of $369.8 million peaked to the highest level in more than a year. Notable Developments: Bitcoin’s Future Under President-Elect Donald Trump: A Look At His Crypto Policies Coinbase CEO Brian Armstrong Welcomes ‘Most Pro-Crypto Congress Ever,’ As End To Gary Gensler’s SEC Chair Stint Nears Raoul Pal Urges Crypto Investors: ‘Do Not Use Leverage, Do Not Lose Your Mind’ Will Blockchain Adoption By Big Institutions ‘Hedge Against Inflation’ And Boost Returns? The BITCOIN Act Of 2024 ‘Is A Significant Proposal’ — Will It Redefine US Crypto Regulation? Top Gainers: CryptocurrencyPrice    Gains +/-First Neiro On Ethereum NEIRO/USD $0.001918+42.2%Uniswap UNI/USD $9.32+32.1%Lido DAO LDO/USD $1.24 +29.3%Trader Notes: With Bitcoin prices touching its new all-time high levels, crypto trader Jelle noted that Bitcoin broke out: Crypto trader Crypto Bully suggests a “buy-the-dip” approach for Bitcoin, advising minimal action as long as Bitcoin holds around the $69,000 level. He cautions against attempting shorts unless for quick scalps and anticipate a potential price dip to the $68,000–$70,000 range within the next week or two. He recommends buying the next dip in altcoins, noting that their main positions have been established since August, with limited leveraged trades currently active. CryptoCon predicts a Bitcoin bull market is locked and loaded for 2025: What can I say? The wind is at our backs and the #Bitcoin bull market is locked and loaded for 2025 just as it always was according to the Halving Cycles Theory.Prosperity inbound, for all crypto. pic.twitter.com/4EXcfgPdVf— CryptoCon (@CryptoCon_) November 6, 2024What’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:  The Future Of Crypto Regulation Under A Trump Administration: ‘Headwinds Are Now Tailwinds’ Image: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.