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.
— Jelle (@CryptoJelleNL) November 6, 2024
Send it higher! pic.twitter.com/yMRlzaoH8l
He recommends buying the next dip in altcoins, noting that their main positions have been established since August, with limited leveraged trades currently active.
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.
— CryptoCon (@CryptoCon_) November 6, 2024
Prosperity inbound, for all crypto. pic.twitter.com/4EXcfgPdVf
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.
- The Future Of Crypto Regulation Under A Trump Administration: 'Headwinds Are Now Tailwinds'
Image: Shutterstock
