Cryptocurrency markets are trading slightly down despite strong ETF inflows for the last 17 days.
Prices as of 4 p.m. ET:
Notable Statistics:
- Coinglass data points to $38 billion in Bitcoin open interest, the highest since April 1, with long liquidations at lowest since a week.
- IntoTheBlock noted a 6,370.9% increase in exchange netflows and a 19.5% growth in large transaction volumes. Meanwhile, 98% of Bitcoin holders are currently making a profit.
Notable Developments:
Robinhood Announces Acquisition Of Crypto Exchange Bitstamp in $200M Deal
Bitcoin Could Reach $150K By Year-End If Trump Wins: Standard Chartered
JPMorgan: US Crypto Regulations Signal Opposition To CBDCs And Non-Compliant Stablecoins
Bitcoin Spot ETFs Record 17 Straight Inflow Days, Reaching $15.3B Year-To-Date
How Ethereum ETF Inflows Will Impact Bitcoin And Cryptocurrency Prices
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Top Losers:
Meanwhile, swing trader Jesse Olson commented on the Robinhood acquisition of Bitstamp. He added, “Did the U.S. big players really want to ban Bitcoin & #Altcoins or did they want a piece of the pie?”
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.
Read Next: Does ‘Sell In May And Go Away’ Work For Bitcoin? This Researcher Crunched The Numbers
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