Bitcoin, Ethereum, Dogecoin Explode To New Highs: 'BTC Bull Market Is Locked And Loaded For 2025, Says Trader'

Author: Khyathi Dalal | November 06, 2024 04:45pm

Cryptocurrency markets are trading higher as Donald Trump secured a second term in the presidential election.

Cryptocurrency	Price	Gains +/-
Bitcoin (CRYPTO: BTC)	$75,833.12	+9.5%
Ethereum (CRYPTO: ETH)	$2,682.34	+11%
Solana (CRYPTO: SOL)	$188.34	+14.3%
Dogecoin (CRYPTO: DOGE)	$0.1952	+15.9%
Shiba Inu (CRYPTO: SHIB)	$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:

Cryptocurrency	Price	Gains +/-
First Neiro On Ethereum (CRYPTO: NEIRO)	$0.001918	+42.2%
Uniswap (CRYPTO: UNI)	$9.32	+32.1%
Lido DAO (CRYPTO: LDO)	$1.24	+29.3%

Trader Notes: With Bitcoin prices touching its new all-time high levels, crypto trader Jelle noted that Bitcoin broke out:

#Bitcoin broke out from the local bull flat.

Send it higher! https://t.co/csIyf5eHYw pic.twitter.com/yMRlzaoH8l

— Jelle (@CryptoJelleNL) November 6, 2024

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, 2024

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: 

• The Future Of Crypto Regulation Under A Trump Administration: ‘Headwinds Are Now Tailwinds’

Image: Shutterstock

Posted In: $BTC $DOGE $ETH $LDO $SHIB $SOL $UNI BTC