Bitcoin, Ethereum, Dogecoin Trade Sideways, Trader Asks: ‘Does It Matter If You Buy Bitcoin At $62,000 Or $58,000’?
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Cryptocurrency markets could not push into the green, as Bitcoin BTC/USD spot ETF outflows resumed on Tuesday.
What Happened: Major cryptocurrencies are trading slightly down at the time of writing:
Prices as of 4 p.m. Eastern Time:CryptocurrencyGains +/-PriceBitcoin BTC/USD $62,300-1.1%Ethereum ETH/USD $2,996-1.7%Solana SOL/USD $145-3.3%Dogecoin DOGE/USD $0.147-4.3%Shiba Inu SHIB/USD $0.00002285-2.5%
Notable Statistics:Loading… Loading… Thomas Kralow, in his latest tweet, highlighted Grayscale's first-ever Bitcoin addition (979 Bitcoins) with nine other ETFs adding 4,412 BTC, worth $280 million. IntoTheBlock data highlights an increase of 2.9% in large transaction volume and a 6.6% rise in daily active addresses. Crypto liquidations in the past 24 hours stand at $139.4 million, with 66,384 traders liquidated.
Notable Developments: FTX To Pay Back Customers In Full, With Interest, As It Amasses Billions In Cash: This Is Just An Unbelievable Result, Says CEO Are Bitcoin Whales Buying The Dip With Less Enthusiasm? Major Trading Firm Purchased $1B Worth Of Bitcoin ETFs In Q1 Hong Kong Launches First $128M Crypto ETF Liquidity Fund
Top Losers:CryptocurrencyGains +/-PriceDogwifhat WIF/USD $2.90-10.5%Worldcoin WLD/USD $5.42-10.4%Bittensor TAO/USD $395.70-9.3%
Also Read: If Bitcoin Starts Losing The Lows It Could Get Ugly And Violent, Traders Warn
Analyst Notes: Macroeconomist Seth, in his latest X post, states that it does not matter when you buy Bitcoin whether at $62,000 or $58,000."Bitcoin to at least $140,000 this cycle. Those who say they know the exact price, dont even know what wine to order in the restaurant. Prove me wrong," Seth writes.
CryptoSlate's lead analyst James Van Straten praises Bitcoins strength and the strong miners going from red to green.
Technical analyst CryptoCon highlights the Level 3 of the Magic Bands, which is still in play for Bitcoin, with the next target at $91,184. He also sees the current scenario as consolidation before the bigger goal.
What's Next: The influence ofBitcoin as an institutional asset classis expected to be thoroughly explored at Benzinga's upcomingFuture of Digital Assetsevent on Nov. 19.
Read Next: Is Ethereum This Cycles Basket Case? 10x Research Points Out ETHs Only Bull Story
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