Cryptocurrency markets are up after Ark Invest sold $100 million in BTC on Wednesday.

Cryptocurrency Price Gains +/- Bitcoin BTC/USD $59,389.90 +0.15% Ethereum ETH/USD $2,527.79 +0.5% Solana SOL/USD $140.31 -3% Dogecoin DOGE/USD $0.0991 -0.6% Shiba Inu SHIB/USD $0.00001399 +0.5%

Notable Statistics:

IntoTheBlock data shows a 12.3% drop in Bitcoin's large transaction volume and a 6.6% increase in daily active addresses. Currently, 80% Bitcoin holders are in profit.

Coinglass data shows 37,247 traders liquidated in the past 24 hours for $98.61 million.

Notable Developments:

Top Gainers:

Cryptocurrency Price Gains +/- Flare FLR/USD $0.01622 +6.2% SATS (CRYPTO: 1000SATS) $0.0003085 +3.5% Monero XMR/USD $162.77 +2.9%

Trader Notes: Crypto trader Jelle pointed out the obvious—Bitcoin has been trading in a channel for six months.

#Bitcoin still trades in the same channel that we've spent the past 6 months inside of.

Battling for the midlevel now.

Get back above, and a push to the highs makes sense.

Let's see 👀 pic.twitter.com/Vb9uk2sjvy — Jelle (@CryptoJelleNL) August 29, 2024

Rekt Capital noted that Bitcoin has filled all CME gaps created over the past six months and is currently on course to do the same with the current CME Gap between $60,500 and $61,500.

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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