The cryptocurrency market is continuing its uptrend on Tuesday as financial markets await the impact of the first debate between Donald Trump and Kamala Harris.

Cryptocurrency Price Gains +/- Bitcoin BTC/USD $57,738 +1.5% Ethereum ETH/USD $2,374 +1.3% Solana SOL/USD $136.5 +1.8% Dogecoin DOGE/USD $0.1031 -0.4% Shiba Inu SHIB/USD $0.00001363 +0.1%

Notable Statistics:

IntoTheBlock data shows a 73% increase in Bitcoin's large transaction volume and a 23% spike in daily active addresses. Exchanges netflows, however, plummeted by 900%.

Coinglass data shows 36,600 traders liquidated in the past 24 hours for $107 million, with $77 million coming from short positions.

Notable Developments:

Top Gainers:

Cryptocurrency Price Gains +/- Fantom FTM/USD $0.506 +9.5% Bitcoin SV BSV/USD $50.58 +9.5% Artificial Superintelligence Alliance FET/USD $1.33 +9.5%

Trader Notes: Crypto chart analyst Ali Martinez flagged short-term Bitcoin holders taking advantage of the price bump to offload bitcoin worth $850 million on Tuesday. He also highlighted the reduced supply of bitcoin on exchanges, a potentially bullish sign.

In the last two months, around 236,155 $BTC have been withdrawn from #crypto exchanges, worth roughly $14.22 billion! pic.twitter.com/brJowGRb9C — Ali (@ali_charts) September 10, 2024

Alex Thorn, head of Galaxy Research, pointed out that Bitcoin ETFs are on pace for an exceptional low volume day on Tuesday as the market continues its drawn-out consolidation phase:

🚨 U.S. Bitcoin ETFs on track for lowest trading volume day ever at $621m total value traded w 15 mins left 👀 pic.twitter.com/WFbXLJUGve — Alex Thorn (@intangiblecoins) September 10, 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.

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