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Cryptocurrency markets are trading lower as markets continue to cope with geopolitical uncertainty.

Cryptocurrency Price Gains +/- Bitcoin BTC/USD $60,836 -1.6% Ethereum ETH/USD $2,393 -4% Solana SOL/USD $140.87 -4% Dogecoin DOGE/USD $0.1034 -3.4% Shiba Inu SHIB/USD $0.00001617 -0.4%

Notable Statistics:

IntoTheBlock data shows large transaction volume decreasing by 12% and daily active addresses increasing by 17.6%. Transactions greater than $100,000 are up from 9,193 to 9,410 in a single day. Exchanges netflows are down by 55.7%.

Coinglass data reports 77,587 traders were liquidated in the past 24 hours for $255 million.

CoinMarketCap shows the crypto Fear and Greed Index at 39 in the fear zone, down from 56.6 last Friday.

Crypto chart analyst Ali Martinez predicts that around $112 million in short positions will be liquidated if Bitcoin rebounds to $63,000.

Notable Developments:

Top Losers:

Cryptocurrency Price Gains +/- EigenLayer EIGEN/USD $3.29 -20.5% Lido DAO LDO/USD $1.03 -11.2% Bonk BONK/USD $0.00002079 -11%

Trader Notes: With Bitcoin prices hovering around the $60,000 mark, Daan Crypto Trades is curious is this is a range deviation or a bearish retest. If this is the case, he thinks it could lead to a move above $64,500.

Crypto trader Rekt Capital marks two levels that are important to continue acting as support.

#BTC

Bitcoin is holding the 21-week EMA (green) as support for the time being

In fact, BTC even downside wicked towards the Downtrend that was broken two weeks ago (light blue)

Both are important to continue acting as support

So far, so good$BTC #Crypto #Bitcoin https://t.co/rfSDo7O2Vo pic.twitter.com/DrvOj7qbnJ — Rekt Capital (@rektcapital) October 2, 2024

Looking at a different angle, crypto trader Seth stated that Coinbase had a huge spike in spot buy orders on Tuesday, suggesting possible accumulation.

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.

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