Bitcoin, Ethereum, Dogecoin Grind Up: ‘We Could See A Fully Bullish 2025,’ Trader Hopes

Cryptocurrency markets are slightly up as markets are trying to assess the chances of a rate cut next Wednesday.

Notable Statistics:

• IntoTheBlock data shows Bitcoin’s large transaction volume dropped by 11%, while daily active addresses saw a 7% drop. Exchanges netflows narrowed by 56.7%.
• Coinglass data shows 26,425 traders liquidated in the past 24 hours for $67.65 million.
• Crypto chart analyst Ali Martinez noted a spike in the Bitcoin Taker Buy/Sell Ratio on Binance. This is a sign of aggressive buying, with potential upward momentum ahead.
• In another tweet, he said that Bitcoin miners are earning far less than their historical average as indicated by Bitcoin Puell Multiple dropping below 0.4.

Notable Developments:

Top Gainers:

Trader Notes: With Bitcoin prices crossing the $58,000-mark, crypto trader Titan Of Crypto foresees the “legendary $100,000 target incoming.” He predicts the end of the year could surprise many just like in 2022 when the “recession was everywhere,” but Bitcoin bottomed out earlier.

With a reclaim of $58,000, crypto trader Jelle sees a push beyond $65,000 to “completely lock into the Q4 all-time high thesis.”

Stockmoney Lizards compares Bitcoin’s performance to a time-specific pattern that revolves around the Halving dates. The trader calls the timing perfect and expects to see bright green monthly candles again after a couple of weeks, most likely in Q4 2024.

He added, “If all goes according to plan, we could see a full bullish 2025.”

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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