Markets
Bitcoin, Ethereum, Dogecoin in the Green as Whale Transactions Surge: “Crypto Markets Will Be Boring for the Next 2-3 Months”
Cryptocurrency markets are rising amid rising whale transactions. Market awaits Ethereum ETF approval amid a big week of economic data aligned.
| Cryptocurrency | Price | Earnings +/- |
| Bitcoin BTC/USD Exchange Rate | $57,769.88 | +2.2% |
| Ethereal ETH/USD | $3,065.47 | +2% |
| Solana SOL/USD Currency Exchange | $141.98 | +2.7% |
| Dogecoin DOGE/USD | $0.1073 | -0.5% |
| Shiba Inu Dog SHIB/USD Exchange Rate | $0.00001632 | -0.2% |
Noteworthy statistics:
- IntoTheBlock data shows a 74% increase in large transaction volume along with transactions over $100,000, from 5,512 on July 7 to 7,867 on July 8. Daily active addresses are up 27.3%. Currently, 83% of Bitcoin holders are in a profitable position.
- Coinglass reported that 33,021 traders were liquidated in the last 24 hours, for a total liquidation of $91.07 million.
- Sanctuary data noticed Bitcoin sentiment among traders on X, Reddit, Telegram, 4Chan, and BitcoinTalk is showing the most bearish trends this week in a year.
- Currently, there are 54.09 million non-empty Bitcoin wallets on the network, down 566,000 since June 15, according to Santiment data.
Noteworthy developments:
Football legend Lionel Messi’s Instagram account posts unexpected promotion for Solana meme coin
Solana Jumps 5.5% as Cboe Files with SEC to List VanEck, 21Shares Spot ETF
Top earnings:
| Cryptocurrency | Price | Earnings +/– |
| Celestia TIA/USD | $7.16 | +17.3% |
| SEI/USD Exchange Rate | $0.3403 | +15.5% |
| TAO/USD Exchange Rate | $259.07 | +12.7% |
Dealer Notes: Moustache aka El Crypto Prof noticed that this is just a Bitcoin correction, nothing more. He added that he had predicted the bottom in 2022 and is also trying to nail the macro top for BTC. He concluded, “The macro top is NOT in.”
Founder and CEO of Cryptoquant The young Ki Ju He highlighted that the Bitcoin miners’ capitulation is still ongoing. He drew parallels that historically this ends when the average daily value mined is 40% of the annual average; now it is at 72%.
“Expect cryptocurrency markets to be boring for the next 2-3 months,” he added.
Macroeconomist and cryptocurrency trader Seth revealed that there are 2,300 sell orders for Bitcoin at $58,000, while Bitcoin is currently struggling at the resistance level.
Bitcoin Technical Analyst CryptoCon explained in a detailed post that Bitcoin’s four-year pattern has remained unchanged for 14 years until March 2024. Based on his alternative theory, he predicted that “A peak in April 2025 suddenly becomes on track.”
What’s next: The influence of Bitcoin as an Institutional Asset Class It is expected to be explored in depth at the next Benzinga The Future of Digital Assets event of November 19th.
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