Bitcoin, Ethereum, Dogecoin Zoom Higher As Bitcoin Conference Awaits Donald Trump's Keynote Speech

Author: Khyathi Dalal | July 26, 2024 04:28pm

Cryptocurrency markets are trading higher as the Bitcoin Conference awaits Donald Trump‘s keynote speech on Saturday.

Cryptocurrency	Price	Gains +/-
Bitcoin (CRYPTO: BTC)	$67,835	+5%
Ethereum (CRYPTO: ETH)	$3,265	+5.2%
Solana (CRYPTO: SOL)	$182.9	+8.5%
Dogecoin (CRYPTO: DOGE)	$0.1336	+10.5%
Shiba Inu (CRYPTO: SHIB)	$0.00001689	+6%

Notable Statistics:

• IntoTheBlock data shows a marginal increase in transactions greater than $100,000 from 7,583 to 7,838. Daily active addresses are up 3% over the past 24 hours. Around 93% of Bitcoin holders are in profit, 7% are at breakeven.
• Coinglass data shows 35,419 traders liquidated in the past 24 hours for $119.3 million.
• Crypto chart analyst Ali Martinez cited a Coingecko survey, which shows that only 10.6% of crypto investors think Solana will exceed $1,000.
• At the Bitcoin Conference, Microstrategy Chairman Michael Saylor predicted Bitcoin will be worth $13 million per coin by 2045.
• The Michigan state pension fund disclosed 110,000 shares of the ARK 21Shares Bitcoin ETF in its latest U.S. SEC filing.

Notable Developments:

• Bitcoin ETFs In Japan: Franklin Templeton Partners With SBI Holdings To Launch Digital Asset Management Company
• Senator Warren Raises Alarm Over Foreign-Owned Crypto Mining Operations In The US
• 87% Of Bitcoin Conference Speakers Are Men — Why Are There So Few Women?
• Elon Musk’s X Axes Bitcoin, Crypto Emojis From Hashtags

Top Losers:

Cryptocurrency	Price	Gains +/–
Conflux (CRYPTO: CFX)	$0.1701	+21.8%
Popcat (CRYPTO: POPCAT)	$0.9407	+19%
Jupiter (CRYPTO: JUP)	$1.07	+15%

Trader Notes: Stockmoney Lizards predicts Bitcoin to go “nuts big time soon” and expects a massive run itowards the year’s final quarter. He highlights certain factors like the halving, a post-halving correction and redistribution and expects a short-squeeze with a lot of liquidations.

The trader also pointed to smart money buying in the past two months, a strong reason to "believe prices have been kept in range before the big breakout."

Another trader predicts a breakout:

shakeout before the breakout? pic.twitter.com/wUupJvylR1

— Satoshi Flipper (@SatoshiFlipper) July 26, 2024

Emperor noted Bitcoin bouncing from the support zone but still being in a larger range where resistance is expected to come heading towards $72,000 levels. He believes $63,500 is a good buy zone. If $67,000 is held, $69,500 should be next.

On the contrary, AllStreet Bets cautioned traders that the coming week could spell a pullback and consolidation.

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.

Read Next:

• Prominent Trader Shares Bitcoin, Ethereum ‘Levels Of Interest’ And ETF Launch Lessons

Image: Shutterstock

Posted In: $BTC $CFX $DOGE $ETH $JUP $SHIB $SOL