Bitcoin, Ethereum, Dogecoin Start Week Lower Despite Strong ETF Inflows: 'Bitcoin Hasn't Broken Anything Yet,' Trader Warns

Benzinga · 10/21 19:32

Cryptocurrency markets are trading lower despite strong ETF inflows last week.

Cryptocurrency Price     Gains +/-
Bitcoin (CRYPTO: BTC)  $67,479.67 -1.6%
Ethereum (CRYPTO: ETH)  $2,672.35 -1%
Solana (CRYPTO: SOL)  $166.22  -3.8%
Dogecoin (CRYPTO: DOGE)  $0.1426 +1.5%
Shiba Inu (CRYPTO: SHIB)  $0.00001848   -1.9%

Notable Statistics:

  • IntoTheBlock data shows large transaction volume decreasing by 1.8% and daily active addresses growing by 3.3%. Exchanges netflows are down by 134%.
  • Coinglass data reports 67,252 traders were liquidated in the past 24 hours for $201.12 million.

Notable Developments:

Top Losers:

Cryptocurrency Price     Gains +/-
First Neiro On Ethereum (CRYPTO: NEIRO)  $0.001722 -9%
ORDI (CRYPTO: ORDI)  $35.50 -6.4%
Dogwifhat (CRYPTO: WIF)  $2.52 -6%

Trader Notes: With Bitcoin prices dropping below $68,000 mark, Justin Bennett highlighted how everyone is talking about Bitcoin highs which have not happened yet.

Another trader predicts that the weekly chart pattern is “currently in bullish territory.” He anticipates and assumes that buyers will be ready to leverage any opportunity of buying any dips.

Crypto trader Jelle points out that Bitcoin’s fun part has just begun despite markets selling off today “as expected.”

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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Image: Shutterstock