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Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA: BTC)

에 대한 최신 뉴스 Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)

Community Bankers Trust Corporation.

AMEX

Grayscale Bitcoin Mini Trust (BTC) is solely and passively invested in Bitcoin. Its investment objective is to reflect the value of Bitcoin held by the Trust, less expenses and other liabilities.

Grayscale Bitcoin Mini Trust

Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest

Bitcoin - United States Dollar

Bitcoin 2

BACTOLAC PHARM INC by Bactolac Pharmaceutical, Inc.

Bitcoin BEP2

BTCDOWN - United States Dollar

NEOS ETF Trust NEOS Bitcoin High Income ETF

T-Rex 2X Long Bitcoin Daily Target ETF

BIT Mining Ltd

Invesco Galaxy Bitcoin ETF Common Shares of Beneficial Interest

Bitcoin Private

BTCpy - United States Dollar

BTCS Inc

Bitcoin Standard Hashrate Token

BTC Digital Ltd

Bitcoin - TrueUSD

BTCUP - United States Dollar

WisdomTree Bitcoin Fund Common Shares of Beneficial Interest

Bluesky Digital Assets Corp

BLUESKY DIGITAL ASSET CRP by Bluesky Digital Assets Corp.

Biotricity Inc

BitcoinZ

Leading cryptocurrencies pulled back Thursday as Federal Reserve Chair Jerome Powell's remarks <a href="https://www.benzinga.com/news/econ-s/24/11/41991849/powell-with-strong-us-economy-fed-has-no-need-to-be-in-a-hurry-to-lower-rates">poured cold water on rate cut optimism.</a>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-2.23%</td>
<td>$88,282.07</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-3.55%</td>
<td>$3,091.21</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-4.46%</td>
<td>$0.3726</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin rose past $91,000 early morning hours, only to slip below $88,000 after the market close, resulting in more than a 2% decline over the last 24 hours.
Ethereum sharply descended from $3,240 to $3,040 over the day. Over the week, the second-largest cryptocurrency gained 3.89%, significantly trailing its senior partner, which was up over 15%.
More than $505 million worth of positions were liquidated in the last 24 hours, with nearly $350 million in upside bets getting wiped out.
Bitcoin's Open Interest (OI) dropped 0.82% in the last 24 hours. A drop in OI, alongside a drop in spot price, also pointed toward long liquidations.
That said, the number of traders betting in favor of Bitcoin's price rally rose in comparison to those shorting the asset, according to the Long/Short Ratio.
The "Extreme Greed" sentiment weakened from 88 to 80 as a result of the retrace, according to the Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Act I: The AI Prophecy (ACT)</td>
<td>+32.46%</td>
<td>$0.8424</td>
</tr>
<tr>
<td>MANTRA (OM)</td>
<td>+20.63%</td>
<td>$1.68</td>
</tr>
<tr>
<td>XRP (XRP)</td>
<td>+13.42%</td>
<td>$0.786</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $2.92 trillion, declining 1.53% in the last 24 hours.
Stocks closed in the red on Thursday. The Dow Jones Industrial Average slipped 207.33 points, or 0.47%, to close at 43,750.86. The S&amp;P 500 lost 0.60% to end at 5,949.17. The tech-focused Nasdaq Composite dipped 0.64% to 19,107.65, marking its third straight losing day.
The sell-offs followed Fed Chair Powell&#8217;s statements that the central bank needn't "be in a hurry" to cut rates given the strength of the economy. 
The cautious remarks triggered a sharp decline in rate cut expectations during next month's FOMC meeting, from 82% to 59%,&nbsp; <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to data from the CME FedWatch tool&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular cryptocurrency analyst Rekt Capital described Bitcoin dips early on in the price discovery phase as "high-probability opportunities."
"As the parabolic phase goes on, however, the pullbacks will become increasingly riskier for dollar-cost-averaging Good thing we&#8217;re so early in the parabolic upside phase," the analyst remarked.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> dips early on in Price Discovery are high-probability opportunities As the Parabolic Phase goes on however, the pullbacks will become increasingly riskier for dollar-cost-averaging Good thing we&#39;re so early in the Parabolic Upside phase<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1857094023690797475?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
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</figure>
On-chain analytics firm CryptoQuant said that high stablecoin inflows were driving the Bitcoin bull market.
"There is a continuation of a higher-than-normal influx of stablecoins. This suggests that barring any additional news flow, the Bitcoin bull market has not yet ended," the firm said, indicating that more upsides could follow.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin Bull Market Fueled by Stablecoin Inflows: Will the Uptrend Continue? "There is a continuation of a higher-than-normal influx of stablecoins. This suggests that barring any additional news flow, the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> bull market has not yet ended." – By <a href="https://twitter.com/theKriptolik?ref_src=twsrc%5Etfw">@theKriptolik</a> Link &#x1f447;… <a href="https://t.co/SAEnv6oxUD">pic.twitter.com/SAEnv6oxUD</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1857194154310214060?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by CMP_NZ on Shutterstock
Read Next:    
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41959476/fbi-raids-polymarket-ceo-over-crypto-betting-platforms-us-activities-he-fires-back-in-the-face-of-adversity-we-build">FBI Raids Polymarket CEO Over Crypto Betting Platform&#8217;s US Activities — He Fires Back: &#8216;In The Face Of Adversity, We Build&#8217;</a></li>
</ul>

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Bitcoin, Ethereum, Dogecoin Take A U-Turn As Jerome Powell's Statements Dampen Rate Cut Expectations: Analytics Firm Explains Why BTC Bull Market Has Not Yet Ended

Even after the U.S. headline and core consumer price inflation rose in the month of October, the Gold spot (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XAU#NASDAQ">XAU</a>) prices fell to a two-month low and have been hovering in the same range. Key ETFs that track gold, have also taken a beating.
This comes amid a rise in Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices which is currently trading at above $90,000 a coin after President-elect Donald Trump&#8216;s victory.
Also read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41886523/peter-schiff-us-bitcoin-reserve-could-destroy-dollar-predicts-its-highly-unlikely-to-happen">Peter Schiff: US Bitcoin Reserve Could &#8216;Destroy Dollar,&#8217; Predicts It&#8217;s &#8216;Highly Unlikely&#8217; To Happen</a>
What Happened: Gold spot prices were trading at $2,547.42 per ounce, as of 6:06 a.m. EST, which is the lowest since Sept. 11. Even though bullion is used to hedge inflation the prices of gold hovered around the two-month low levels despite the increase in the U.S. headline and core CPI data. The prices declined nearly 8% from the record high that it scaled on Oct. 31. The surge in the U.S. dollar also weighed on the precious yellow metal.
Prominent Gold ETFs have also declined as the gold spot prices have fallen. According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>, Franklin Responsibility Sourced Gold ETF (ACRA: FGDL) declined by 1.19%, whereas the SPDR Gold MiniShares Trust (ACRA: GLDM) was down by 2.5%. Also, iShares Gold Trust Micro Shares (ACRA: IAUM) declined by 2.57% as of 6:06 a.m. EST.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="128" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14062347/ETFs-Gold--1024x128.png" alt="" class="wp-image-647653" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14062347/ETFs-Gold--1024x128.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14062347/ETFs-Gold--300x37.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14062347/ETFs-Gold--768x96.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14062347/ETFs-Gold--1536x191.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14062347/ETFs-Gold-.png 1734w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Economist Peter Schiff, however, continues to be bullish on gold because he thinks CPI will surge as used car prices in the U.S. will start falling and the Federal Reserve won&#8217;t hike rates again.
&#8220;Rising bond yields and sticky inflation continue to weigh on gold. Traders believe this combination is bearish for gold as it will sideline future rate cuts. The problem is that CPI numbers will soon surge as used car prices stop falling. The Fed won&#8217;t hike. Gold will surge.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Rising bond yields and sticky <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a> continue to weigh on <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a>. Traders believe this combination is bearish for gold as it will sideline future rate cuts. The problem is that <a href="https://twitter.com/hashtag/CPI?src=hash&amp;ref_src=twsrc%5Etfw">#CPI</a> numbers will soon surge as used car prices stop falling. The <a href="https://twitter.com/hashtag/Fed?src=hash&amp;ref_src=twsrc%5Etfw">#Fed</a> won&#39;t hike. Gold will surge.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1856752133460070689?ref_src=twsrc%5Etfw">November 13, 2024</a></blockquote>
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</figure>
Also read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41891221/peter-schiff-says-he-would-have-loaded-up-on-bitcoin-had-he-known-that-the-btc-bubble-would-get-this-big">Peter Schiff Says He Would Have &#8216;Loaded Up&#8217; On Bitcoin Had He Known That The BTC Bubble Would &#8216;Get This Big&#8217;</a>
Simultaneously, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has been scaling new highs as it surpassed Silver (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XAG#NASDAQ">XAG</a>) to become the eighth most valuable asset globally, with a market capitalization of $1.79 trillion.
Bitcoin prices have surged dramatically, adding over $300 billion to its market capitalization in just two weeks. This meteoric rise has pushed Bitcoin&#8217;s total value above both silver and Meta in terms of market capitalization, according to <a href="https://www.usagold.com/daily-market-report/">usagold.com</a>. The rally has been attributed to multiple factors, including Trump&#8217;s recent election victory, increased institutional adoption and the evolving regulatory landscape.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="627" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14062647/market-cap-of-assets-1024x627.png" alt="" class="wp-image-647659" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14062647/market-cap-of-assets-1024x627.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14062647/market-cap-of-assets-300x184.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14062647/market-cap-of-assets-768x470.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14062647/market-cap-of-assets.png 1044w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Why It Matters: Trump during his pre-election campaign promised the launch of a <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">strategic national crypto stockpile</a> if elected for a second term. He also said that the U.S. government will maintain its Bitcoin holdings that it has amassed from seizing the assets of financial criminals, during a conference that he addressed in Nashville in July. These promises have led to the rise in crypto prices since his victory last week and the cryptocurrency market capitalization has hit a record $3.2 trillion.
Earlier this week on Tuesday, Schiff took to X (formerly Twitter) to encourage traders to invest in silver over bitcoin as gold prices fell.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With so many people selling <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> ETFs today to buy <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> ETFs and Bitcoin-related equities, <a href="https://twitter.com/hashtag/silver?src=hash&amp;ref_src=twsrc%5Etfw">#silver</a> held up relatively well. With gold down 2.4%, silver only fell 1.8%. Typically, on a day when gold is down this much, silver would be down twice as much. Maybe a silver lining.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1856110617268040154?ref_src=twsrc%5Etfw">November 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Read Next:<a href="https://www.benzinga.com/markets/commodities/24/11/41896213/economist-peter-schiff-sees-a-silver-lining-as-gold-plummets-while-investors-rush-to-snap-up-bitcoin-gains-typicallysilver-would-be-down-twice-as-much"> Economist Peter Schiff Sees &#8216;A Silver Lining&#8217; As Gold Plummets, While Investors Rush To Snap Up Bitcoin Gains: &#8216;Typically…Silver Would Be Down Twice As Much&#8217;</a></figcaption></figure>
Image via Shutterstock

Market Summary

Economics

ETFs

FGDL

GLDM

IAUM

Gold Drops To A Two-Month Low As Investors Turn To Bitcoin After Trump's Victory, But This Economist Remains Confident That 'Gold Will Surge'

Tech mogul and co-head of Department of Government Efficiency (DOGE), Elon Musk, defended the newly formed body&#8217;s efficiency amid criticism from Sen.&nbsp;Elizabeth Warren&nbsp;(D-Mass.)
What Happened: Taking a dig at the <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">appointment</a> of Musk and Vivek Ramaswamy to lead the highly-touted department, the three-time senator wrote in an X post, &#8220;The Office of Government Efficiency is off to a great start with split leadership: two people to do the work of one person. Yeah, this seems REALLY efficient.&#8221;
Musk clapped back by saying, &#8220;Unlike you, neither of us are being paid, so it is very efficient indeed,&#8221; perhaps revealing for the first time that he won&#8217;t be drawing any salary for the work. 
He expressed his confidence in DOGE&#8217;s potential to benefit the American people. &#8220;Let history be the judge.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Unlike you, neither of us are being paid, so it is very efficient indeed.<a href="https://twitter.com/DOGE?ref_src=twsrc%5Etfw">@DOGE</a> will do great things for the American people. Let history be the judge.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1856925863725412706?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/24/11/41961161/musk-ramaswamy-headed-doge-department-will-be-an-incredibly-challenging-endeavor-says-ted-cruzshares-this-piece-of-advice">Ted Cruz Says Running DOGE Won&#8217;t Be A Cake Walk, Offers Reading Advice To Elon Musk</a>
Why It Matters: The initiative, aimed at restructuring federal agencies and reducing government spending, became a huge talking point leading up to the elections, and with the official appointments, curiosity around its operations has grown even more.
Amid the hype, Senator&nbsp;Ted Cruz&nbsp;(R-Texas), who is considered close to Musk, said that running the department <a href="https://www.benzinga.com/24/11/41961161/musk-ramaswamy-headed-doge-department-will-be-an-incredibly-challenging-endeavor-says-ted-cruzshares-this-piece-of-advice">would be challenging</a> for someone from a private corporation due to the stark differences in incentives between the government and private companies.
Warren <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41764839/elizabeth-warren-wins-third-senate-term-overcomes-challenge-from-crypto-backed-gop-candida">won</a> her third Senate term in Massachusetts, beating pro-cryptocurrency opponent John Deaton. Musk, a supporter of cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), was <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41424071/coinbase-ceo-brian-armstrong-endorses-elizabeth-warrens-pro-crypto-rival-john-deaton-in-se">supportive of Deaton&#8217;s candidacy</a>.
Warren has been&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39070738/remember-elizabeth-warrens-anti-crypto-campaign-donald-trump-promises-to-keep-elizabeth-wa" target="_blank" rel="noreferrer noopener">detested by the cryptocurrency community</a>&nbsp;because of her overtly critical stance on the industry. She has argued for more regulations on the sector, arguing that it facilitates illegal activities that are largely untraceable.
In her defense, Warren said that she was okay with people buying and trading cryptocurrencies as long as they were subjected to the same laws as the traditional market.
Image via Shutterstock
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41961419/bitcoin-proxy-microstrategy-added-more-to-its-market-cap-in-last-2-months-than-what-ford-is-worth-currently">Bitcoin Proxy MicroStrategy Added More To Its Market Cap In Last 2 Months Than What Ford Is Worth Currently</a></li>
</ul>

Politics

TSLA

Elizabeth Warren's Sarcastic Take On DOGE's Split Leadership Gets Slammed By Elon Musk: 'Unlike You, Neither Of Us Are Being Paid'

Bitcoin continued to make records as supportive inflation numbers raised the market's expectations of further interest rate cuts by the Federal Reserve.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.79%</td>
<td>$89,874.80</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-2.11%</td>
<td>$3,190.24</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.10%</td>
<td>$0.3925</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world's largest cryptocurrency sailed above $93,000 during U.S. trading hours Wednesday, before a sharp correction into the $89,000 zone.
Bitcoin's dominance rose to 60%, reflecting that investors were far more confident in it than other cryptocurrencies.
Ethereum also rallied to an intraday high of $3,366, later cooling down to $3,190, as investors began cashing out.
Nearly $850 million in derivatives contracts was erased in the last 24 hours, with leveraged longs accounting for 61% of the total.
Bitcoin's Open Interest (OI) rose 2.30% in the last 24 hours, signaling higher speculative interest.&nbsp;
Most top trader accounts on Binance were still positioned for Bitcoin's decline, as seen from the Long/Short Ratio indicator.
The "Extreme Greed" sentiment strengthened as the reading on the Cryptocurrency Fear and Greed Index rose from 84 to 88.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Peanut the Squirrel (PNUT)</td>
<td>+443.42%</td>
<td>$2.32</td>
</tr>
<tr>
<td>Pepe (PEPE)</td>
<td>+46.86%</td>
<td>$0.00002171</td>
</tr>
<tr>
<td>Floki (FLOKI)</td>
<td>+30.28%</td>
<td>$0.0000024</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $2.98 trillion, following an increase of 1.32% in the last 24 hours.
Stocks ticked slightly higher on Wednesday. The Dow Jones Industrial Average rose 47.21 points, or 0.11%, to close at 43,958.19. The S&amp;P 500 gained 0.02% to end at 5,985.38. The tech-heavy Nasdaq Composite registered the second straight day of decline, closing down 0.26% at 19,230.72.
Consumer Price Index (CPI) rose from 2.4% in September to 2.6% in October, <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41938762/october-inflation-rate-rises-to-2-6-as-expected-december-interest-rate-cut-remains-uncertain">in line with economist predictions</a>. Investors raised the odds of a 25 basis-point cut at next month's FOMC meeting to 82% from 58% a day before, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">data </a>from the CME FedWatch tool showed.&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: In a note to Benzinga, Chris Kline, COO and Co-Founder of BitcoinIRA, said that Bitcoin was likely to witness heightened volatility on the road to $100,000.
"This is not an unexpected phenomenon, as the market often experiences corrections and fluctuations as it navigates uncharted territory," Kline added.
He also backed Bitcoin's appeal as a wealth preservation asset, predicting that it would catch up given the higher chance of another interest rate cut next month.
Influential cryptocurrency analyst Ali Martinez spotted a cup-and-handle pattern for Bitcoin, widely considered a bullish signal in technical analysis.
Martinez set a price target of $255,000 for the leading cryptocurrency.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> price action is following a cup-and-handle pattern, the bullish target could reach $255,000! <a href="https://t.co/EMuA0QAPKA">pic.twitter.com/EMuA0QAPKA</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1856710863023190231?ref_src=twsrc%5Etfw">November 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41959476/fbi-raids-polymarket-ceo-over-crypto-betting-platforms-us-activities-he-fires-back-in-the-face-of-adversity-we-build">FBI Raids Polymarket CEO Over Crypto Betting Platform&#8217;s US Activities — He Fires Back: &#8216;In The Face Of Adversity, We Build&#8217;</a></li>
</ul>

Bitcoin Flirts With $100K, Dogecoin Edges Higher, Ethereum Dips As CPI Numbers Fuel Rate Cut Hopes: Analyst Says BTC Could See Over 180% Upside Due To This Bullish Pattern

U.S. stocks could open on a negative note on Wednesday after the <a href="https://www.benzinga.com/news/earnings/24/11/41892574/dow-settles-above-44000-for-the-first-time-as-tesla-continues-to-surge-after-trump-win-investor-sen">averages scaled record highs last week</a>. Futures of all three major indices were slightly down as investors await the crucial Consumer Price Index (CPI) print scheduled to be released on Wednesday.
Nasdaq, S&amp;P 500, and Dow Jones surged over 4% last week after the GOP sweep and the Federal Reserve delivered a widely expected 25 basis point rate cut.
However, after Dow Jones scaled a record 44,000 to kick off the week on a positive note, the markets have witnessed a slight pullback due to profit booking and caution among investors.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.14%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.13%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.11%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.08%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.11% to $596.25 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 0.12% to $512.30, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
The S&amp;P 500 and Nasdaq both snapped their five-session winning streak on Tuesday, edging lower as investors took a breather.
Crude oil prices remained under the $70 mark but edged up due to near-term supply tightness.
Treasury yields eased a little as investors await inflation data.
On the economic data front, U.S. consumer inflation expectations for the year ahead eased to 2.9% in October compared to 3% in each of the prior four months.
The RealClearMarkets/TIPP Economic Optimism Index rose 13.4% in November to a reading of 53.2, recording the highest reading in over three years.
Most sectors on the S&amp;P 500 closed on a negative note, with materials, health care, and real estate stocks recording the biggest losses on Tuesday.
However, information technology and communication services stocks bucked the overall market trend, closing the session higher.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.09%</td>
<td>19,281.40</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.29%</td>
<td>5,983.99</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.86%</td>
<td>43,910.98</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.77%</td>
<td>2,391.85</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Ryan Detrick, chief market strategist at Carson Group, thinks that the Fed has enough room to cut interest rates further without worrying about a surge in inflation. According to him, the "strong productivity" will help keep inflation capped.
"As long as productivity remains strong (like we think it should) the path is there for the Fed to continue to cut interest rates and not worry about inflation soaring back."
However, analysts at BlackRock Investment Institute <a href="https://www.blackrock.com/us/individual/insights/blackrock-investment-institute/weekly-commentary">expressed</a> caution on inflation.
"We focus on U.S. CPI to see if inflation will keep falling toward the Fed's 2% target. Short-term inflation has been decreasing, with immigration boosting the labor supply and cooling wage growth. However, recent services PCE data remains sticky, indicating that inflation may settle above 2% in the medium term."
Over the longer term, though, an aging population could maintain a persistent upward pressure on inflation, the firm said.
Wells Fargo's lead economist Jay Bryson echoed similar sentiments, saying, "The October CPI report will likely support the notion that the last mile of inflation&#8217;s journey back to target will be the hardest."
WisdomTree and Wharton School economist&nbsp;Jeremy Siegel continued to stress that the equity markets have enough gas in them to continue the ongoing bull run.
"The ‘bull market' sentiment remains intact, though valuations remain a watch point," he said, adding that the expectations of "lighter regulations" from President-elect Donald Trump's administration would benefit equities.
"The bull market in stocks looks set to continue, while bonds face a rougher road," Siegel said but noted that the gains that equity investors have been seeing this year are unlikely to repeat in 2025.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data
Wednesday's economic calendar includes the release of inflation print.
<ul>
<li>The Consumer Price Index (CPI) will be released at 8:30 a.m. ET.</li>
<li>New York Fed President John Williams will speak at 9:30 a.m. ET.</li>
<li>Dallas Fed President Lorie Logan will speak at 9:45 a.m. ET.</li>
<li>The monthly U.S. federal budget will be released at 2 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares surged nearly 13% in premarket trading on Wednesday after the company <a href="https://www.benzinga.com/news/contracts/24/11/41924462/rivian-stock-races-higher-after-the-bell-whats-going-on">announced the launch of its joint venture</a> with the Volkswagen Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>), with the deal value rising from $5 billion to $5.8 billion.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares <a href="https://www.benzinga.com/markets/equities/24/11/41933025/tesla-shares-rise-in-pre-market-tuesday-after-cooling-down-in-previous-session-whats-going-on">rose over 2.5% in premarket trading</a> on Wednesday, after CEO Elon Musk was <a href="https://www.benzinga.com/government/regulations/24/11/41931503/trump-forms-doge-with-elon-musk-and-vivek-ramaswamy-at-the-helm-will-it-impact-tesla-ceos-role-at-the-ev-giant-and-spacex">appointed</a> to the Department of Government Efficiency, or DOGE, along with Vivek Ramaswamy.</li>
<li>Spirit Airlines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) stock <a href="https://www.benzinga.com/news/earnings/24/11/41932146/spirit-airlines-nears-bankruptcy-creditors-may-approve-equity-cancellation-heres-what-it-means-for-investors-as-shares-fall-with-a-thud">fell over 65% in premarket trading</a> after the company inched closer to bankruptcy and failed to file its September quarter earnings.</li>
<li>MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) and Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) shares continued to surge after Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) inched closer to $90,000.</li>
<li>Investors are awaiting earnings results from CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), and Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures surged in the early New York session, rising by 0.81% to hover around $68.67 per barrel.
The 10-year Treasury note yield eased slightly to 4.418%.
Most of the major Asian markets ended in the red on Wednesday, but European markets were in the green in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41916359/bitcoin-is-the-decentralized-king-says-anthony-pompliano-whose-100000-price-prediction-is-close-to-coming-true">Bitcoin Is The &#8216;Decentralized King,&#8217; Says Anthony Pompliano, Whose $100,000 Price Prediction Is Close To Coming True</a></li>
</ul>
Photo courtesy: Wikimedia

Earnings

Equities

Futures

Federal Reserve

Pre-Market Outlook

CSCO

CYBR

HOOD

MSTR

RIVN

SAVE

VWAGY

S&P 500, Dow Futures Dip As Investors Brace For Key Inflation Data: Expert Says 'Strong Productivity' Will Cap Inflation Despite Fed's Rate Cuts

Leading cryptocurrencies cooled down from their blistering election run Tuesday, although Bitcoin briefly hit the $90,000 milestone.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.28%</td>
<td>$88,460.30</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.43%</td>
<td>$3,267.67</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+9.79%</td>
<td>$0.3761</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world's largest cryptocurrency temporarily touched $90,000 for the first time in history before quickly giving in to sell pressure.&nbsp;
Ethereum also remained volatile, topping $3,400 for the first time since the last week of July before falling below $3,300.
Meanwhile, Dogecoin continued its uptrend after President-elect Donald Trump<a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently"> appointed</a> tech mogul Elon Musk and former presidential candidate Vivek Ramaswamy to lead the much-anticipated Department of Government Efficiency (DOGE).
The halt in the rally affected bullish leveraged traders, as nearly $550 million in long positions were wiped out in the last 24 hours.
The overheated market cooled down as funding rates across major exchanges dropped sharply, though long-position traders still maintained their dominance.
The "Extreme Greed" sentiment intensified as the reading on the Cryptocurrency Fear and Greed Index rose from 80 to 84.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bonk (BONK)</td>
<td>+42.44%</td>
<td>$0.00003671</td>
</tr>
<tr>
<td>Stellar (XLM)</td>
<td>+19.95%</td>
<td>$0.1346</td>
</tr>
<tr>
<td>Floki (FLOKI)</td>
<td>+19.01%</td>
<td>$0.0002124</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $2.95 trillion, following a marginal increase of 0.26% in the last 24 hours.
Stocks also took a break from their election rally. The Dow Jones Industrial Average plunged 382.15 points, or 0.86%, to close at 43,910.98. The S&amp;P 500 lost 0.29% to end at 5,983.99, while the tech-focused Nasdaq Composite dropped 0.09% to close at 19,298.76.
The pullback comes a day after the three indexes closed at record highs on Monday, riding high on Trump's presidential victory.
Investors were likely to shift their focus to key inflation numbers due this week, including the consumer price index (CPI) slated for Wednesday and the producer price index (PPI) for Thursday.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Arthur Azizov, CEO of cryptocurrency payment provider B2BINPAY, said in a note to Benzinga,
"Given the 32% increase over the past week, it's typical for a healthy market to see some retracement, usually around 50% of such an upward move, especially if the price is to avoid reverting fully to its previous range."
That said, Azizov was confident of continued growth in Bitcoin, given broader investor enthusiasm and interest in exchange-traded funds, as well as the incoming administration's economic policies.
Influential cryptocurrency analyst Michaël van de Poppe deemed Bitcoin's small correction as normal and attributed it to the market's volatility.
He encouraged his followers to buy the dips and continue to HODL their altcoins. "The rewards will be there."&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is having a small correction and the whole altcoin market drops 10%. That&#39;s the volatility of the markets. What to do? &#8211; Use those dips to be buying back into the markets. &#8211; If you&#39;re into <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a>. Hold them. The rewards will be there.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1856399075287150659?ref_src=twsrc%5Etfw">November 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41911976/binance-founder-cz-gained-12b-overnight-when-trump-won-and-now-shares-his-future-plans-after-prison">Binance Founder CZ Gained $12B Overnight When Trump Won And Now Shares His Future Plans After Prison</a></li>
</ul>

Bitcoin, Ethereum Consolidate, Dogecoin Surges As Election Rally Takes A Breather: Analyst Says Pullback 'Typical' For Healthy Market

A group of polled venture capital firms and hedge funds expected Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to peak between $100,000 and $150,000 this bull cycle, down from the astronomical forecasts set by other market researchers.
What happened: According to the "Q4 2024 Crypto Investment Manager Survey" by venture capital firm MV Global, nearly 45% of the respondents projected the top cryptocurrency to stay within the aforementioned range.&nbsp;
These estimates were somewhat modest when compared to global investment bank Standard Chartered&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41851865/bitcoin-to-200000-ethereum-to-10000-and-crypto-market-cap-to-4x-by-end-of-2025-says-standard-chartered">price target</a> of $200,000 by end-2025 and investment management company VanEck's <a href="https://www.youtube.com/watch?v=vl7zfkBBaI8">prediction </a>of $300,000.
"Our conjecture is the upside sentiment has been reduced because of the last six months of market chop. In other words, the upside-tail is much less priced in," MV Capital said in the report.
Meanwhile, nearly half of the interviewed investors believed Bitcoin would peak in the second half of 2025, a position consistent with popular opinion.
Most participants anticipated huge upside potential for Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), with over 30% predicting a peak of over $600 this cycle. This would mean a 172% spike from the current market value.
Just over 23% expected the fourth-largest cryptocurrency to peak between $450,000 and $600,000.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873427/shiba-inu-lead-developer-shytoshi-kusama-pitches-s-h-i-b-in-response-to-elon-musks-call-for-new-roles-recommendations-in-trump-administration">Shiba Inu Lead Developer Shytoshi Kusama Pitches S.H.I.B In Response To Elon Musk&#8217;s Call For New Roles Recommendations In Trump Administration</a>
A third of participants expected Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) to peak between $3,000 and $5,000, while the other third expected the second-largest cryptocurrency to top in the $5,000-$7,000 range.
"High conviction that both ETH and SOL outperform BTC this cycle, but SOL has much more upside," MV Capital quoted a liquid fund analyst as stating.
Why It Matters: The prediction markets have been energized amid the cryptocurrency market's record-breaking rally.
Bitcoin tapped an all-time high of $89,500 on Monday, representing a surge of nearly 30% over the week.
The odds in <a href="https://polymarket.com/event/will-bitcoin-hit-100k-in-2024">favor </a>of BTC hitting $100,000 in 2024 on the popular cryptocurrency-based prediction platform Polymarket zoomed to 63% as of this writing. 
Price Action: At the time of writing, Bitcoin was exchanging hands at $88,598.31, up 8.81% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873479/after-anthony-scaramucci-ftx-sues-binance-and-ex-ceo-changpeng-cz-zhao-to-reclaim-1-8b-amid-bankruptcy-tussle">After Anthony Scaramucci, FTX Sues Binance And Ex-CEO Changpeng &#8216;CZ&#8217; Zhao To Reclaim $1.8B Amid Bankruptcy Tussle</a></li>
</ul>
Photo courtesy: Pixabay

$SOL

Bitcoin To Peak Between $100K-150K, Solana To Top $600 This Cycle, Say Hedge Funds, VCs

As cryptocurrency prices hover around <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41888686/bitcoin-blasts-through-87000-as-market-euphoria-regulatory-optimism-take-hold">record levels</a>, investors have been keen on adding them to their portfolios. This is evident by the rise in various Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETF levels. However, gold prices have declined by nearly 1% in the morning hours as cryptocurrency prices surged. While silver prices have been down too, Peter Schiff, the chairman of SchiffGold.com and chief economist and global strategist at Europac.com suggests that investors should go for silver over Bitcoin as the precious yellow metal declines.
What Happened: Schiff suggests that &#8220;typically&#8221; silver prices should drop to about half the rate of gold. However, with silver prices holding steady amid market fluctuations, he views this resilience as a &#8220;silver lining.&#8221; Schiff believes this unusual performance makes silver an attractive investment alternative to Bitcoin and gold ETFs, given its relative stability in the current market.
Also read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41888686/bitcoin-blasts-through-87000-as-market-euphoria-regulatory-optimism-take-hold">Bitcoin Blasts Through $88,000 As Market &#8216;Euphoria,&#8217; Regulatory Optimism Take Hold</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="889" height="322" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12054246/peter-tweet.png" alt="" class="wp-image-642454" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12054246/peter-tweet.png 889w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12054246/peter-tweet-300x109.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12054246/peter-tweet-768x278.png 768w" sizes="(max-width: 889px) 100vw, 889px" /></figure>
Why It Matters: Comparing the ETFs of all three assets, we see that gold and silver ETFs have underperformed bitcoin ETFs. Gold spot rates (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XAU#NASDAQ">XAU</a>) were down 1.05% at $2,591.34 per ounce, Silver spot rates (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XAG#NASDAQ">XAG</a>) were down by 1.25% at $30.30 per ounce and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) trading at $87,504.28 per coin at the time of publication.
Also read: <a href="https://www.benzinga.com/general/education/24/11/41882342/heres-how-much-100-in-dogecoin-today-could-be-worth-if-doge-hits-new-all-time-highs-2">Here&#8217;s How Much $100 In Dogecoin Today Could Be Worth If DOGE Hits New All-Time Highs</a>
The iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) was up by 13.5% as of Monday&#8217;s close. Additionally, the Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>) and the Grayscale Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>) ETFs rose by 13.4% on Monday, as per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="251" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12060631/Gold-ETFs-G-1024x251.png" alt="" class="wp-image-642494" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12060631/Gold-ETFs-G-1024x251.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12060631/Gold-ETFs-G-300x74.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12060631/Gold-ETFs-G-768x188.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12060631/Gold-ETFs-G-1536x377.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12060631/Gold-ETFs-G.png 1822w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>, Franklin Responsibility Sourced Gold ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FGDL#NYSE">FGDL</a>) declined 2.25% as of Monday&#8217;s close, whereas the SPDR Gold MiniShares Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLDM#NYSE">GLDM</a>) was down by 2.35% on the same day. iShares Gold Trust Micro Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAUM#NYSE">IAUM</a>) declined by 2.39% on Monday.
Also Read: <a href="https://www.benzinga.com/etfs/specialty-etfs/24/11/41888750/gold-etf-hit-with-1-billion-outflow-investors-dump-safe-haven-asset-after-trump-win">Gold ETF Hit With $1 Billion Outflow: Investors Dump Safe Haven Asset After Trump Win</a>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12054737/Gold-ETFs-Final-1024x250.png" alt="" class="wp-image-642465" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12054737/Gold-ETFs-Final-1024x250.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12054737/Gold-ETFs-Final-300x73.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12054737/Gold-ETFs-Final-768x188.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12054737/Gold-ETFs-Final-1536x375.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12054737/Gold-ETFs-Final.png 1809w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
While the gold ETFs fell by over 2% on Monday, silver ETFs were down too. As per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data, iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) was down 1.79% on Monday. Similarly, Global X Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIL#NYSE">SIL</a>) and Amplify ETF Trust Amplify Junior Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SILJ#NYSE">SILJ</a>) were down by 4.39% and 5.77% as of Monday&#8217;s close.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="245" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12055151/Silver-ETFs-1024x245.png" alt="" class="wp-image-642475" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12055151/Silver-ETFs-1024x245.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12055151/Silver-ETFs-300x72.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12055151/Silver-ETFs-768x184.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12055151/Silver-ETFs-1536x368.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12055151/Silver-ETFs.png 1819w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Also read: <a href="https://www.benzinga.com/24/11/41886697/two-ideas-famed-stock-market-forecasters-agree-on-for-2025">Why Trump&#8217;s Win Has 2 Market Experts Betting On Small Caps, Financials</a>
Image Via Shutterstock

Commodities

Fidelity Wise Origin Bitcoin Fund Fidelity Wise Origin Bitcoin Fund

FBTC

GBTC

IBIT

SILJ

Economist Peter Schiff Sees 'A Silver Lining' As Gold Plummets, While Investors Rush To Snap Up Bitcoin Gains: 'Typically…Silver Would Be Down Twice As Much'

U.S. stocks could open on a negative note on Tuesday after the <a href="https://www.benzinga.com/news/earnings/24/11/41892574/dow-settles-above-44000-for-the-first-time-as-tesla-continues-to-surge-after-trump-win-investor-sen">averages scaled record highs last week</a>. Futures of all three major indices were slightly down on Tuesday, pointing to a cautious sentiment on Wall Street.
The three major indices surged over 4% last week after the GOP sweep and the Federal Reserve delivered a widely expected 25 basis point rate cut. Investors could be looking to book profits in the meantime even as experts say there's gas left in the current equity bull run.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.35%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.29%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.19%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.80%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Tuesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.23% to $597.41 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 0.28% to $512.40, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
The Dow Jones scaled the 44,000 mark on Monday for the first time, closing the day up by over 300 points to end the day at 44,293.13.
Crude oil prices remained under the $70 mark as the risk of Hurricane Rafael receded, providing relief.
Treasury yields continued to rise, signaling concerns that the next administration might struggle with fiscal discipline.
Most sectors on the S&amp;P 500 closed on a positive note, with consumer discretionary, financials, and industrials stocks recording the biggest gains on Monday.
However, information technology and real estate stocks bucked the overall market trend, closing the session lower.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.06%</td>
<td>19,298.76</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.10%</td>
<td>6,001.35</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.69%</td>
<td>44,293.13</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.47%</td>
<td>2,434.98</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Ryan Detrick, chief market strategist at Carson Group, agreed with FundStrat's Tom Lee on the potential for small-cap stocks to grow further.
"Good to see @fundstrat sticking with the small caps and cyclical themes. We are right there with him," Detrick said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Good to see <a href="https://twitter.com/fundstrat?ref_src=twsrc%5Etfw">@fundstrat</a> sticking with the small caps and cyclical themes. We are right there with him. <a href="https://t.co/1cKFZy90q8">pic.twitter.com/1cKFZy90q8</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1855977336606269674?ref_src=twsrc%5Etfw">November 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Earlier, Lee said "there's still&nbsp;a lot of upside" in small-cap stocks, adding,&nbsp;"So I think small-caps could,&nbsp;over the next couple of&nbsp;years, outperform by more than&nbsp;100%."
WisdomTree and Wharton School economist&nbsp;Jeremy Siegel continued to stress that the equity markets have enough gas in them to continue the ongoing bull run.
"The ‘bull market' sentiment remains intact, though valuations remain a watchpoint," he said, adding that the expectations of "lighter regulations" from President-elect Donald Trump's administration would benefit equities.
"Corporate earnings have continued to impress, and with no immediate breakdowns in tech's big players, I do not see a downturn for equities in the near term. With inflation easing on essential items like oil and ongoing global cooling in commodity prices, the environment is favorable for continued economic stability."
"The bull market in stocks looks set to continue, while bonds face a rougher road," Siegel said but noted that the gains that equity investors have been seeing this year are unlikely to repeat in 2025.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data
Tuesday's economic calendar is fairly light.
<ul>
<li>Fed Gov. Christopher Waller will speak at 10 a.m. ET.</li>
<li>Richmond Fed President Tom Barkin will speak at 10:15 a.m. ET.</li>
<li>Philadelphia President Patrick Harker will speak at 10 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares continued to rally, gaining nearly 9% on Monday. However, in premarket trading on Tuesday, the EV giant's shares were down nearly 2.9%.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares were down over 5.6% in premarket trading.</li>
<li>Live Nation Entertainment Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>) shares were up over 6.6% in premarket trading after the Ticketmaster parent beat market expectations and said it is looking toward an "even bigger 2025."</li>
<li>MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), and Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) surged between 7% to 26% after Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continued to set new highs.</li>
<li>Investors are awaiting earnings results from Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>), The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>), and Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures surged in the early New York session, rising by 0.7% to hover around $68.50 per barrel.
The 10-year Treasury note yield surged to 4.355%.
Major Asian markets ended in the red on Tuesday, and European stocks showed weakness as well in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/11/41894615/tesla-q4-deliveries-expected-to-set-new-records-but-not-enough-to-avoid-yearly-sales-decline-says-researcher">Tesla Q4 Deliveries Expected To Set New Records But Not Enough To Avoid Yearly Sales Decline, Says Researcher</a></li>
</ul>
Photo courtesy: Wikimedia

COIN

Wall Street Futures Show Weakness As Investors Look To Lock In Gains After Strong Post-Election Rally: 'Bull Market Sentiment Remains Intact,' Says Wharton Economist

Influential investor and CEO of&nbsp;Gerber Kawasaki Wealth and Investment Management, Ross Gerber, declared Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as the true winner of the U.S. elections amid the leading cryptocurrency&#8217;s record-shattering rally.
What Happened: Gerber took to X, expressing his views on the post-election market rally. He added a &#8216;fire&#8217; emoji to represent the blistering trajectory of the world&#8217;s largest cryptocurrency over the last week.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin is &#x1f525;- the true winner of the election.
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1855979826617749708?ref_src=twsrc%5Etfw">November 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Gerber added that his investment advisory firm has exposure to Bitcoin, apart from their biggest position in artificial intelligence behemoth Nvidia.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We also own bitcoin, and Nvidia is our top position. It's been a good post election rally for markets and stocks. Lower rates. Economy is decently strong as well. Quite a set of factors for a market rally.
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1855982892746252329?ref_src=twsrc%5Etfw">November 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
As per the latest 13F <a href="https://www.sec.gov/Archives/edgar/data/1666736/000166673624000008/xslForm13F_X02/gk13fq22024.xml">filing </a>with the SEC, the firm holds 31,588 shares of iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), with an estimated market value of $1.56 million.
See Also: <a href="https://www.benzinga.com/24/11/41890600/anthony-scaramucci-optimistic-of-a-us-strategic-bitcoin-reserve-trumps-victory-accelerated-the-cycle">Anthony Scaramucci Optimistic On US Strategic Bitcoin Reserve: &#8216;Trump&#8217;s Victory Accelerated The Cycle&#8217;</a>
Why It Matters: Gerber&#8217;s bullish views come amid an ongoing cryptocurrency bull run that has seen <a href="https://www.benzinga.com/24/11/41890968/bitcoin-kisses-89500-ethereum-dogecoin-extend-trump-victory-rally-how-long-before-btc-hits-100000-analysts-reveal">Bitcoin establish record highs on a daily basis</a>. On Monday, the digital asset spiked above $89,500.
Following Donald Trump&#8217;s presidential victory last week, Bitcoin hasn&#8217;t looked back, with its weekly gains exceeding 30%. 
That said, Gerber&#8217;s optimism didn&#8217;t cover the entire cryptocurrency market.
Earlier in March, Gerber, a known&nbsp;Tesla&nbsp;investor, urged investors to focus on established cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), referring to them as the king and queen of the crypto world. He had cautioned against investing in lesser-known cryptocurrencies, commonly referred to as &#8220;sh&#x2A;tcoins&#8221;.
Price Action: At the time of writing, Bitcoin was exchanging hands at $88,581.58, up 9.64% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Photo Courtesy: Shutterstock.com
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41891221/peter-schiff-says-he-would-have-loaded-up-on-bitcoin-had-he-known-that-the-btc-bubble-would-get-this-big">Peter Schiff Says He Would Have &#8216;Loaded Up&#8217; On Bitcoin Had He Known That The BTC Bubble Would &#8216;Get This Big&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tesla Bull Ross Gerber Hails Bitcoin As The 'True Winner' Of Election As The Apex Crypto Breaks Records

Leading cryptocurrencies catapulted Monday as the rally sparked by Donald Trump&#8217;s victory entered top gear.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:15 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+10.40%</td>
<td>$89,128.08</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+3.44%</td>
<td>$3,307.99</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+22.73%</td>
<td>$0.355</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin sailed past $89,500 as the leading cryptocurrency's record-breaking trajectory showed no signs of exhaustion.&nbsp;
The market heavyweight rose more than 31% over the last week, bringing its November gains to 24.82%, the best since 2020.
Ethereum, the second-largest cryptocurrency, also maintained its bullish momentum, spiking to levels last seen on July 25.
More than $669 million locked in futures contracts were wiped out of the market in the last 24 hours, with leveraged shorts bleeding $369 million.&nbsp;
A further $1 billion in short positions would be liquidated if Bitcoin hits $91,000.
Bitcoin's Open Interest rose 6.44% in the last 24 hours to $52.32 billion, indicating an influx of fresh money into the derivatives market.
Market sentiment remained in the "Extreme Greed" zone, according to the Cryptocurrency Fear and Greed Index, signaling that the market could be due for a correction.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:15 p.m. ET)</td>
</tr>
<tr>
<td>Cronos (CRO)</td>
<td>+73.86%</td>
<td>$0.2164</td>
</tr>
<tr>
<td>BitTorrent [New] (BTT)</td>
<td>+27.36%</td>
<td>$0.000001231</td>
</tr>
<tr>
<td>Worldcoin (WLD)</td>
<td>+26.62%</td>
<td>$2.74</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization approached $3 trillion, following a jump of 7.72% in the last 24 hours.
Like cryptocurrencies, the stock market continued to revel in Trump's victory. The Dow Jones Industrial Average jumped 304.14 points, or 0.69%, to close at a record high of 44,293.13. The S&amp;P 500 gained 0.10% to end at 6,001.35, while the tech-heavy Nasdaq Composite added 0.06% to hit 19,298.76.
The benchmark 10-year yield on U.S. sovereign bonds rose over 2 basis points to 4.334%.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely-followed cryptocurrency trader, known by the alias Symbiote, projected Bitcoin to reach $100,000 in 55 days after the election, based on historical trends.
"Right after that, BTC might go sidelined, and alt season will begin. $100 in right altcoins will become $100,000 in a few," the trader predicted.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> will hit $100k in ~55 days after the U.S. Election! Right after that <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> might go sideline and altseason will begin $100 in right alts will become $100,000 in a few days&#8230; Here is the list of the best 10 alts with over 100x potential&#x1f9f5;&#x1f447; <a href="https://t.co/qs1zxClSEP">pic.twitter.com/qs1zxClSEP</a>
&mdash; symbiote (@cryptosymbiiote) <a href="https://twitter.com/cryptosymbiiote/status/1856000048078758169?ref_src=twsrc%5Etfw">November 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another influential cryptocurrency analyst, Rekt Capital, reminded everyone about Bitcoin's +106% rally in 2020 after breaching its 4-year cycle resistance.&nbsp;
"If Bitcoin were to repeat a +106% move in this current 2024 Candle 4, it would end the year at $96500," the analyst remarked.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> The 2020 Candle 4 rallied +106% after breaking its respective 4-Year Cycle resistance ($13856, black) If Bitcoin were to repeat a +106% move in this current 2024 Candle 4, it would end the year at $96500<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/8p2Hsygp8C">https://t.co/8p2Hsygp8C</a> <a href="https://t.co/sI8IHv2QPH">pic.twitter.com/sI8IHv2QPH</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1856079523986768335?ref_src=twsrc%5Etfw">November 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by Avi Rozen on Shutterstock
Read Next:    
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41890024/much-wow-dogecoin-is-now-larger-than-ford-adidas-lululemon-roblox-15-companies-worth-less-than-meme-crypto">Much Wow! Dogecoin Is Now Larger Than Ford, Adidas, Lululemon, Roblox: 15 Companies Worth Less Than Meme Crypto</a></li>
</ul>

Bitcoin Hovers Around $90K, Ethereum, Dogecoin Extend Trump Victory Rally: How Long Before BTC Hits $100,000? Analysts Reveal

Bitcoin (CRYPTo: <a class="ticker" href="https://www.benzinga.com/stock/btc#CRYPTo">BTC</a>) has reached a new milestone, soaring past $82,000, fueled by optimism over a potentially favorable regulatory environment following Donald Trump&#8217;s election as U.S. president. The cryptocurrency has more than doubled from its earlier low of $38,505 this year, peaking at $82,368.
What Happened: Bitcoin-linked ETFs have mirrored this upward trend on Monday, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. The Bitwise Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>) rose by 6.67%, while the Grayscale Bitcoin Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>) increased by 6.58%. Additionally, the iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) saw a 7.21% rise. 
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41870678/bitcoin-taps-81k-ethereum-dogecoin-extend-rally-over-weekend-legendary-trader-projects-apex-crypto-to-hit-125k-by-new-year?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Taps $81K, Ethereum, Dogecoin Extend Rally Over Weekend: Legendary Trader Projects Apex Crypto To&nbsp;Hit $125K By New Year</a>
In contrast, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) experienced a slight decline of 0.61%, yet its associated ETFs showed positive movement.
The ProShares Ether ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EETH#NYSE">EETH</a>) climbed by 8.28%, the Bitwise Ethereum ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHW#NYSE">ETHW</a>) went up 7.09%, and the iShares Ethereum Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>) increased by 8.42%. 
The election of Trump has sparked speculation about a more crypto-friendly regulatory environment, which could pave the way for further adoption and integration of digital currencies.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41867380/anthony-scaramucci-sued-by-ftx-says-bankman-fried-made-investments-in-skybridge-endeavors-that-conveyed-little-to-benefit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Sued By FTX, Says Bankman-Fried Made Investments In SkyBridge Endeavors That &#8216;Conveyed Little To No Benefit&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

General

Bitwise Bitcoin ETF Common Shares of Beneficial Interest

BITB

EETH

ETHA

ETHW

Bitcoin, Ethereum ETFs React As BTC Surges Past $82K After Trump's Win

Leading cryptocurrencies advanced higher on Sunday as the searing election week rally continued into the weekend.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Performance +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+4.94%</td>
<td>$80,604.17</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+2.36%</td>
<td>$3,189.01</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+34.28%</td>
<td>$0.2925</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin extended its record-breaking trajectory, breaching $81,000 for the first time, as expectations of a<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41783773/the-future-of-crypto-regulation-under-a-trump-administration-headwinds-are-now-tailwinds"> cryptocurrency-friendly administration</a> under President-elect Donald Trump revitalized markets.
Ethereum, the second-largest cryptocurrency, broke $3,200 for the first time since July 31, while Dogecoin topped the daily gainers list with gains of more than 34%.
Bitcoin's market dominance rose above 60%, following a 3.44 percentage point gain in the last 24 hours, while Ethereum also saw a minor increase in market share.
Over $683 million worth of funds locked in unsettled futures contracts were liquidated in the last 24 hours, with short liquidations accounting for more than half.
Bitcoin's Open Interest spiked 5.41% in the last 24 hours to $48.61 billion, reflecting higher demand from derivatives traders.
Interestingly, the majority of top traders on the cryptocurrency exchange Binance took downside bets against Bitcoin as of this writing, indicating expectations of a pullback.
Market sentiment was back in the "Extreme Greed" zone, according to the Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Dogecoin (DOGE)</td>
<td>+34.28%</td>
<td>$0.2925</td>
</tr>
<tr>
<td>Shiba Inu (SHIB)</td>
<td>+32.27%</td>
<td>$0.00002672</td>
</tr>
<tr>
<td>Mantle (MNT)</td>
<td>+26.76%</td>
<td>$0.0001819</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $2.76 trillion, following an increase of 4.77% in the last 24 hours.
Stock futures ticked higher Sunday night. The Dow Jones Industrial Average Futures rose 32 points, or 0.07%, as of 7:40 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.14%, while Nasdaq 100 Futures added 0.24%.
The moves followed a sensational election week rally that saw the three blue-chip indexes, the Dow, the S&amp;P 500, and the Nasdaq Composite, close at record highs.
This week, investors would watch out for key inflation numbers, including October's consumer price index slated for Wednesday, and the producer price index data, due on Thursday.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Legendary cryptocurrency trader Peter Brandt projected Bitcoin to hit $125,000 by New Year.
"When BTC decides to &#8220;Mark-Up,&#8221; it never looks back. Throughout its history, when BTC runs &#8211; it runs," Brandt said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin gave everyone a chance to buy breaks from Mar-Oct &#39;24 When BTC decides to &quot;Mark-Up,&quot; it never looks back Throughout its history, when BTC runs &#8211; it runs Based on Jan-Mar &#39;24 run as ONLY one &quot;time/price&quot; Bayesian probability &quot;priors,&quot; price could hit $125k by New Years <a href="https://t.co/HCiKKojDkA">pic.twitter.com/HCiKKojDkA</a>
&mdash; Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1855582282460836050?ref_src=twsrc%5Etfw">November 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely-followed cryptocurrency trader and analyst Scient predicted a halt in BTC's rally around $84-85,000, followed by a correction/consolidation for 7-10 days before resuming the uptrend.
"If it does happen, looking to bid between $71,000-$69,000," the trader stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>, I think we are close to the local top. Anticipating the price to halt around $84-85k followed by a correction/consolidation for 7-10 days before we resume up again. If it does happen, Looking to bid between $71k-$69k.<a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a href="https://twitter.com/hashtag/BTCUSDT?src=hash&amp;ref_src=twsrc%5Etfw">#BTCUSDT</a> <a href="https://t.co/9Nco8Jakg1">pic.twitter.com/9Nco8Jakg1</a>
&mdash; Scient (@Crypto_Scient) <a href="https://twitter.com/Crypto_Scient/status/1855671098680975465?ref_src=twsrc%5Etfw">November 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41869087/kiyosaki-aims-to-own-100-bitcoins-by-2025-i-wish-bitcoin-was-back-to-10-a-coin-but-wishing-has-never-made-poor-people-richer">Kiyosaki Aims To Own 100 Bitcoins By 2025: &#8216;I Wish Bitcoin Was Back To $10 A Coin, But Wishing Has Never Made Poor People Richer&#8217;</a></li>
</ul>
Photo courtesy: Unsplash

Bitcoin Taps $81K, Ethereum, Dogecoin Extend Rally Over Weekend: Legendary Trader Projects Apex Crypto To Hit $125K By New Year

In a historic development, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has surpassed the $80,000 milestone, propelled by President-elect Donald Trump&#8216;s supportive stance on cryptocurrencies and the potential for a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41703454/analyst-says-this-crypto-could-explode-by-up-to-3-765-and-it-is-not-bitcoin-or-solana">crypto-friendly Congress</a>.
What Happened: According to CoinMarketCap, Bitcoin&#8217;s value surged as much as 4.7% to an unprecedented $80,092 before falling back to around $79,700 early Sunday.
Bitcoin and other cryptocurrencies have seen a sharp rise, marking a significant day for liquidations. <a href="https://www.coinglass.com/LiquidationData">Data </a>from Coinglass.com reveals that more than $430 million in derivatives positions were cleared in just 24 hours.
Digital currencies, such as Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), also experienced a surge.
During his campaign, Trump made commitments to place the US at the forefront of the digital-asset industry. 
His strategies include establishing a strategic Bitcoin reserve and appointing regulators who are in favor of digital assets. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41866459/crypto-analyst-sees-bitcoin-hitting-80000-this-month">This Crypto Analyst Sees Bitcoin Hitting $80,000 This Month</a>
After last week&#8217;s election, the Republican Party, led by Trump, gained control of the Senate and is close to retaining a slim majority in the House.
Le Shi, the Hong Kong managing director at market-making firm Auros, <a href="https://www.bloomberg.com/news/articles/2024-11-10/bitcoin-btc-on-cusp-of-80-000-for-first-time-on-optimism-over-trump?sref=TBDibEcD">told</a> Bloomberg, &#8220;With the dust from Trump's victory still settling down, it was only a matter of time before a run-up of some sort occurred given the perception of Trump being pro-crypto.&#8221;
At the time of writing, Bitcoin was trading at $79,741.85, up by almost 5 per cent in the last 24 hours, 18% up in the last seven days. &nbsp;&nbsp;
Why It Matters: Bitcoin&#8217;s value has seen a 90% increase in 2024, driven by robust demand for dedicated US exchange-traded funds and interest-rate cuts by the Federal Reserve. 
The surge in Bitcoin, which hit new highs following the US election, outperforms returns from other investments like stocks and gold. 
This significant rise underscores the growing acceptance and adoption of digital currencies, further solidifying their place in the global financial landscape.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40869320/micha-l-van-de-poppe-predicts-massive-bitcoin-surge-says-price-may-soar-by-890" target="_blank" rel="noreferrer noopener">Michaël Van De Poppe Predicts Massive Bitcoin Surge, Says Price May Soar By 890%</a>

$ADA

Bitcoin Surges Past $80,000 Milestone For First Time On Optimism Over Trump

The week has been a whirlwind of cryptocurrency news, with El Salvador&#8217;s Bitcoin gamble paying off and Standard Chartered predicting a massive surge in the digital assets market. Meanwhile, Detroit is set to become the first major U.S. city to accept cryptocurrency for taxes and other city fees. Let&#8217;s dive into these stories and more.
El Salvador&#8217;s Bitcoin Bet Pays Off &#8211; El Salvador, the pioneer nation in adopting Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a legal tender, has seen an 81% return on its investment. According to Spotonchain data, the country&#8217;s strategic Bitcoin investments, spearheaded by President Nayib Bukele, have yielded gains of $24.54 million. Since November 18, 2022, El Salvador has been purchasing one bitcoin daily at an average price below $42,000. <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41847581/el-salvadors-bitcoin-bet-is-paying-off-heres-how-much-the-country-is-up">Read the full article here.</a>
Standard Chartered Forecasts Crypto Boom &#8211; Standard Chartered predicts a fourfold increase in the digital assets market cap, reaching $10 trillion by the U.S. mid-term elections in late 2026. Geoffrey Kendrick, Head of Research at Standard Chartered, bases this growth forecast on anticipated regulatory shifts following a projected Republican sweep in the recent election cycle. Kendrick expressed confidence that favorable regulatory policies will drive adoption across the asset class. <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41851865/bitcoin-to-200000-ethereum-to-10000-and-crypto-market-cap-to-4x-by-end-of-2025-says-standard-chartered">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41847581/el-salvadors-bitcoin-bet-is-paying-off-heres-how-much-the-country-is-up?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">El Salvador&#8217;s Bitcoin Bet Is Paying Off—Here&#8217;s How Much The Country Is Up</a>
Cryptocurrencies Rally Following Trump Victory &#8211; Major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), surged following Donald Trump&#8217;s presidential victory. Bitcoin surpassed its previous all-time high established in March, pushing it above $75,000 for the first time. <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41794596/bitcoin-ethereum-dogecoin-slingshot-to-the-moon-after-trump-victory-but-sharp-correction-m">Read the full article here.</a>
Speculation Around Charles Hoskinson as Trump Crypto Policy Advisor &#8211; There&#8217;s speculation that Charles Hoskinson, co-founder of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), might serve as a cryptocurrency policy advisor in the Trump administration. This speculation follows recent posts and statements from various figures within the crypto community, hinting at a possible alignment of interests between Hoskinson and the Trump campaign. <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41853924/cardano-up-13-as-speculation-around-charles-hoskinson-as-trump-crypto-policy-advisor-bubbles">Read the full article here.</a>
Detroit Embraces Cryptocurrency &#8211; Detroit is poised to become the first major U.S. city to accept cryptocurrency for taxes and other city fees. Residents will have the option to use cryptocurrencies to pay for utilities through a secure platform managed by PayPal. This initiative is part of a broader strategy to leverage blockchain technology to enhance public services and boost civic engagement in the city. <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41832783/detroit-becomes-first-major-us-city-to-accept-taxes-and-fees-in-crypto-mayor-says-fosterin">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41851865/bitcoin-to-200000-ethereum-to-10000-and-crypto-market-cap-to-4x-by-end-of-2025-says-standard-chartered?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin To $200,000, Ethereum To $10,000 And Crypto Market Cap To 4X By End Of 2025, Says Standard Chartered</a>
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a> 
Image via Shutterstock

Cryptocurrencies Rally Following Trump Victory, El Salvador's Bitcoin Bet Pays Off And More: Top Crypto Updates This Week

Bitcoin tapped an all-time high, and Ethereum soared as the Federal Reserve's <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41820253/fed-cuts-interest-rates-to-lowest-since-february-2023-sticks-to-data-driven-path">latest quarter-point rate cut</a> boosted market momentum on Thursday.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.46%</td>
<td>$76,365.42</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+8.52%</td>
<td>$2,938.85</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.92%</td>
<td>$0.1943</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world's largest cryptocurrency hit a new all-time high at $76,872.61, barely two days after creating records on the day of the U.S. presidential election.
Ethereum powered above $2,900 for the first time in more than three months in a late-evening rally.
Bitcoin's market dominance rose above 60%, following a 3.44 percentage point gain in the last 24 hours, while Ethereum also saw a minor increase in market share.
In the past 24 hours, 89,458 traders were liquidated, with the total liquidations coming in at $311.71 million. Short-leveraged traders saw $186 million worth of their positions evaporate in the rally.
Bitcoin's Open Interest rose 2.88%, indicating an influx of fresh money in the derivatives market.
Bitcoin's Relative Strength Index (RSI) went into the overbought territory, as per TradingView, strengthening the case of a pullback.
That said, market sentiment cooled from "Extreme Greed" to "Greed," as per the Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Raydium (RAY)</td>
<td>+14.24%</td>
<td>$4.82</td>
</tr>
<tr>
<td>Cardano (ADA)</td>
<td>+13.49%</td>
<td>$0.4133</td>
</tr>
<tr>
<td>Mantle (MNT)</td>
<td>+13.17%</td>
<td>$0.6774</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.5 trillion, following a marginal contraction of 0.57% in the last 24 hours.
Stocks extended their winning streak on Thursday. The S&amp;P 500 gained 0.74% to close at a new record high of 5,973.10. The tech-heavy Nasdaq Composite added 1.51% to end at 19,269.46, marking its first close above 19,000.
The Dow Jones Industrial Average traded near the flatline, dropping just 0.59 points to 43,729.34.
The upswing followed the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41820253/fed-cuts-interest-rates-to-lowest-since-february-2023-sticks-to-data-driven-path">Fed's 0.25 percentage point cut</a>, bringing the federal funds rate to a target range of 4.5% to 4.75%, the lowest since February 2023.
Fed Chair Jerome Powell hinted at the <a href="https://www.benzinga.com/news/large-cap/24/11/41826586/wall-street-closes-at-record-highs-after-reassurance-from-powell-magnificent-7-hit-17-trillion-tre">possibility of more easing in the future</a> but refrained from signaling a specific rate cut at the December meeting, stressing a data-dependent approach.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular cryptocurrency analyst Ali Martinez said that Bitcoin can hit a local top of $85,360 if it maintains support above $71,489, according to the MVRV Deviation Pricing Bands.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> maintains support above $71,489, the next local top could be around $85,360, based on the MVRV Deviation Pricing Bands. <a href="https://t.co/ilvzI5iNPO">pic.twitter.com/ilvzI5iNPO</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1854659596285043004?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Martinez also drew attention to the impending "altcoin season."&nbsp;
"This could be the ideal time to stack up on altcoins, as history shows that altseason often follows shortly after," the analyst added, referring to the ongoing dominance of Bitcoin.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Altseason hasn't even begun! We're in that part of the cycle where <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is still outpacing <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>—totally normal at this stage. This could be the ideal time to stack up on altcoins, as history shows that altseason often follows shortly after. <a href="https://t.co/jxANVYk8kt">pic.twitter.com/jxANVYk8kt</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1854623178523328901?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely-followed cryptocurrency analyst, going by the pseudonym Wolf dubbed Ethereum as the "best" risk/reward asset in the cryptocurrency market.
"The fundamentals have never been stronger, and technically, it's incredibly undervalued. The chart is looking bullish as ever, and with ground to catch up against BTC and SOL," the analyst added.
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41424841/donald-trumps-polymarket-odds-rise-to-61-3-after-mcdonalds-appearance">Donald Trump&#8217;s Polymarket Odds Rise To 61.3% After McDonald&#8217;s Appearance</a></li>
</ul>

Bitcoin, Ethereum Rise, Dogecoin Steady After Fed Cuts Rate: Analyst Predicts Apex Crypto's Next Local Top At $85.4K If This Happens

After Wednesday&#8217;s &#8220;everything rally&#8221; spurred by the election results, investors took a less euphoric approach on Thursday ahead of the Federal Open Market Committee (FOMC) meeting.
The Fed is widely expected to cut interest rates by 25 basis points, bringing them to a range of 4.5%-4.75%, following a previous 50-basis-point cut in September.
Yet, all eyes are on Fed Chair Jerome Powell&#8217;s comments at 2:30 p.m. ET regarding the potential for future rate hikes and his views on inflation risks. Concerns from the market center on the possibility of a policy U-turn driven by higher fiscal deficits and price pressures from trade tariffs under a Trump administration.
Tech stocks led gains, with the Nasdaq 100 extending its record-breaking levels, surpassing 21,000 points and eyeing a third consecutive positive session. The S&amp;P 500 and Dow Jones posted more modest gains, while the Russell 2000 paused after Wednesday&#8217;s 5.8% leap.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) remained a top performer among mega-cap stocks, bolstered by expectations of Elon Musk&#8216;s influence in the upcoming administration.
Treasury yields reversed a substantial portion of Wednesday's post-election increase, while the U.S. dollar dipped by 0.7%.
Metal commodities rebounded after Wednesday&#8217;s sharp losses, with gold rising 1.3%, silver up 2% and copper rallying over 4%.
Oil prices strengthened by 1%, with West Texas Intermediate trading around $72 per barrel.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 0.8%, reaching $76,000 to extend its record highs, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) outperformed with a gain of over 4%.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,050.78</td>
<td>1.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,968.27</td>
<td>0.7%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,748.20</td>
<td>0.0%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,389.10</td>
<td>-0.2%</td>
</tr>
</tbody>
</table>
</figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110624&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.7% to $594.84.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;stalled at $437.25.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 1.3% to $512.38.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 0.3% to $236.67.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, rising 1.3%. The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) lagged, down 1.2%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
Some relevant reactions to earnings reports are:
<ul>
<li>Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), up 0.1%, </li>
<li>Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), up 6.2%, </li>
<li>MercadoLibre Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>), down 16%, </li>
<li>APPLovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>), up 43%, </li>
<li>McKesson Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>), up 11%, </li>
<li>Take-Two Interactive Software Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>), up 6.3%, </li>
<li>Transdigm Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDG#NYSE">TDG</a>), down 4.4%</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41814589/why-trumps-boost-to-treasury-yields-inflation-expectations-may-weaken-feds-efforts-">Why Trump&#8217;s Boost To Treasury Yields, Inflation Expectations May Weaken Fed&#8217;s Efforts To Cut Interest Rates</a></li>
</ul>
This image was created using artificial intelligence.

Large Cap

Macro Economic Events

Sector ETFs

Broad U.S. Equity ETFs

Tech

SPDR Dow Jones Industrial Average ETF Trust

GILD

MELI

QCOM

TTWO

XLRE

Nasdaq 100 Extends Record Levels Ahead Of Fed Meeting, Tesla Hits 26-Month Highs, Small Caps Stall: What's Driving Markets Thursday?

U.S. stocks could open in the green on Thursday after a strong post-election rally on Wednesday that saw former President Donald Trump <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">emerge victorious</a> after a long-drawn battle with Joe Biden and Kamala Harris.
Futures of all three major indices edged up on Thursday, pointing to positive sentiment on Wall Street.
Shares of Trump's social media company, Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) will remain in focus once again on Thursday after surging nearly 6% on Wednesday.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.22%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.19%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.19%</td>
</tr>
<tr>
<td>R2K</td>
<td>0.35%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) gained 0.22% to $592.42 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.26% to $506.87, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
Cues From Last Session:
All three major indices registered strong surges as election results poured in on Wednesday, ending the session with major gains. The wider Dow Jones index surged by over 1,500 points, closing the day with 3.6% gains.
Oil prices continued to ease as Trump's win increased expectations of a stronger U.S. dollar.
Treasury yields continued to gain after <a href="https://www.benzinga.com/news/24/11/41765345/treasury-yields-pop-on-trump-victory-chances-10-year-benchmark-reaches-4-month-high">popping on Wednesday at the prospect</a> of a Trump victory.
All eyes will be on the Federal Open Market Committee (FOMC) and Federal Reserve chair Jerome Powell on Thursday as investors await signals on the path for rate decisions going forward.
Most sectors on the S&amp;P 500 closed on a positive note, with consumer discretionary, industrials, and financials stocks recording the biggest gains on Wednesday.
However, consumer staples and real estate stocks bucked the overall market trend, closing the session lower.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>2.95%</td>
<td>18,983.47</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>2.53%</td>
<td>5,929.04</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>3.57%</td>
<td>43,729.93</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>5.84%</td>
<td>2,392.92</td>
</tr>
</tbody>
</table>
</figure>
It's not just equities that surged—top cryptocurrency Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continued to gain momentum, scaling a new all-time high of $76,460.15. At the time of writing, Bitcoin was trading at $74,967.38, up by 1.48% in the last 24 hours.
Insights From Analysts:
Veteran investor Mark Mobius, chairman of Mobius Emerging Opportunities Fund, <a href="https://www.cnbc.com/">told</a> CNBC that a Trump victory would not just be good for the U.S. economy, but also for emerging ones.
A decisive Trump victory would lead to "lots of deregulation," according to Mobius, which would also be "very good" for emerging countries.
"One of the things [I observe] as I travel around the world, is the incredible impact of U.S. regulations on these countries regarding the transfer of funds, know your customer… hopefully, that will go down the drain and there will be much freer trade and much freer movement of currencies."
Ryan Detrick, chief market strategist at Carson Group, highlighted that the U.S. equity markets have already hit new all-time highs 48 times in 2024, with nearly two months still to go.
Per Detrick's analysis, this could mean the U.S. markets could witness 56 all-time highs in 2024, which would make it the fifth most in history.
He is also bullish on the impact of a potential Fed rate cut on U.S. equities. He noted that when the Fed cut rates at a time when the S&amp;P 500 was near an all-time high, it resulted in stocks being higher a year later.
"They&#8217;ve done this 20 other times and a year later stocks were higher 20 times. As we&#8217;ve been saying all year, the Fed is a tailwind."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tomorrow the Fed will cut rates with the S&amp;P 500 near an all-time high. They&#39;ve done this 20 other times and a year later stocks were higher 20 times. As we&#39;ve been saying all year, the Fed is a tailwind. <a href="https://t.co/YgfF3WJ4B3">pic.twitter.com/YgfF3WJ4B3</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1854350014425788872?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to CME Group's FedWatch tool, markets are currently anticipating a 100% chance of a rate cut. Powell's remarks in the press conference will be worth looking out for, though, as investors look for guidance on the future trajectory of rate action.
On the economic data front, U.S. mortgage applications fell by 10.8% from the previous week in the week ended Nov. 1.
U.S. crude oil inventories increased by 2.149 million barrels in the week ended Nov. 1, compared to market estimates of a 1.8 million gain.
See Also:&nbsp;<a href="https://www.benzinga.com/money/how-to-trade-futures" target="_blank" rel="noreferrer noopener">How To Trade Futures</a>
Upcoming Economic Data
While Powell and Fed will be the stars of Thursday's economic calendar, here's all the activity investors will be watching today:
<ul>
<li>Initial jobless claims data and preliminary productivity numbers will be released at 8:30 a.m. ET.</li>
<li>Wholesale inventories data will be released at 10 a.m. ET.</li>
<li>FOMC will announce its rate decision at 2 p.m. ET.</li>
<li>Fed Chair Powell will address a press conference at 2:30 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Trump Media &amp; Technology Group Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares plunged nearly 20% in premarket trading on Thursday.</li>
<li>Lyft Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) shares <a href="https://www.benzinga.com/news/24/11/41799780/why-lyft-shares-are-trading-higher-by-over-21-here-are-20-stocks-moving-premarket">popped over 22% </a>after the company raised its outlook amid a surge in sales and ridership.</li>
<li>Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) beat Street expectations and extended its share buyback program. Qualcomm shares rose over 7% in premarket trading.</li>
<li>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) shares are in focus after Baird downgraded the lender's stock from neutral to sell.</li>
<li>Investors are awaiting earnings results from The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>), and Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures eased in the early New York session, falling by 0.92% as Trump's return to the White House has led to a stronger U.S. dollar.
The 10-year Treasury note yield surged to 4.433%.
Most Asian markets ended Thursday on a positive note, but Japan's Nikkei 225 index ended the day 0.25% lower. European stocks showed strength in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41798981/jim-cramer-calls-trumps-return-to-white-house-a-huge-win-for-the-stock-market">Jim Cramer Calls Trump&#8217;s Return To White House A &#8216;Huge Win For The Stock Market&#8217;</a></li>
</ul>
Photo courtesy: Wikimedia

LYFT

US Stocks Likely To Open Higher, Extending Post-Election Rally: Fed's Rate Decision On Investors' Radar As Expert Highlights Markets Scaling 48 All-Time Highs This Year

Leading cryptocurrencies gave a thumbs up to Donald Trump's presidential victory in anticipation of a friendlier White House.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+6.15%</td>
<td>$75,185.83</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+9.67%</td>
<td>$2,706.00</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+8.18%</td>
<td>$0.1941</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin bettered its previous all-time high established in March with a handsome rally that pushed it above $75,000 for the first time.
The apex cryptocurrency's fourth-quarter gains increased to 18.74%, with history showing average returns of 83%.
Ethereum jumped to levels last seen in late August, while Dogecoin spiked over 8%.
Ethereum also encountered heavy sell-offs, while Dogecoin outperformed the market with over 8% gains in the last 24 hours.
Bearish leveraged traders witnessed a bloodbath, with nearly $400 million in short positions getting wiped out in the last 24 hours.
Bitcoin's Open Interest surged 9.30%, indicating a significant rise in speculative interest. Most top traders on the cryptocurrency exchange Binance leaned toward bullish positions, as the Binance Top Trader Long/Short Ratio was 1.48 as of this writing.
Market sentiment snowballed to "Extreme Greed," as per the Cryptocurrency Fear and Greed Index, raising concerns of a correction.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>First Neiro On Ethereum (NEIRO)</td>
<td>+59.56%</td>
<td>$0.002222</td>
</tr>
<tr>
<td>Ethena (ENA)</td>
<td>+36.18%</td>
<td>$0.5015</td>
</tr>
<tr>
<td>Bittens (TAO)</td>
<td>+32.70%</td>
<td>$1.32</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.47 trillion, following an increase of 5.55% in the last 24 hours.
Stocks erupted in a frenzy on Wednesday. The Dow Jones Industrial Average jumped 1,508.05 points, or 3.57%, to a record close at 43,729.93.&nbsp;
The S&amp;P 500 lifted 2.53% to end at 5,929.04, while the tech-focused Nasdaq Composite gained 2.95% to close at 18,983.47. Both of these indexes notched a new record as well.
The benchmarks were helped by a 14.8% rally in the shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), the tech behemoth whose CEO Elon Musk geared up for a potential role in the new Trump administration.
Trump-owned Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) also lifted nearly 6% during the session.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular on-chain analytics firm CryptoQuant noted that Bitcoin was still not overvalued, despite leaping to new highs.
"The MVRV ratio shows BTC is still far from peak levels. The price is also close to the purchase cost of traders, indicating it's not overheated. This hints at a potential for further growth," the firm said in an X post.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin's new all-time high doesn't mean it's overvalued relative to its cost basis. The MVRV ratio shows <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is still far from peak levels. The price is also close to the purchase cost of traders, indicating it's not overheated. This hints at a potential for further growth. <a href="https://t.co/xeeDdipN9O">pic.twitter.com/xeeDdipN9O</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1854187011168420126?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Arthur Azizov, CEO of cryptocurrency payment provider B2BINPAY, said in a statement to Benzinga that Bitcoin might correct sharply by the end of this week or early next.
"The Bitcoin chart shows significant uncovered liquidity below the current price, while liquidity above has already been absorbed, indicating that a downward movement is needed to support sustainable future growth. Additionally, the Federal Reserve's rate announcement on Thursday is expected to bring further price volatility," Azizov added.
Furthermore, he expected BTC to range between $80,000 and $90,000 by year-end.
Photo by Avi Rozen on Shutterstock
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41778985/the-bitcoin-act-of-2024-is-a-significant-proposal-will-it-redefine-us-crypto-regulation">The BITCOIN Act Of 2024 &#8216;Is A Significant Proposal&#8217; — Will It Redefine US Crypto Regulation?</a></li>
</ul>

Bitcoin, Ethereum, Dogecoin Slingshot To The Moon After Trump Victory But 'Sharp' Correction Might Be In Store: Analyst Views BTC Between $80-90K By End Of Year

Cryptocurrency markets are trading higher as Donald Trump secured a second term in the presidential election.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>&nbsp;$75,833.12</td>
<td>+9.5%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>&nbsp;$2,682.34&nbsp;</td>
<td>+11%</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td>&nbsp;$188.34</td>
<td>+14.3%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>&nbsp;$0.1952</td>
<td>+15.9%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>&nbsp;$0.00001883</td>
<td>+6%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>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%.</li>
<li>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.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41770352/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">Bitcoin&#8217;s Future Under President-Elect Donald Trump: A Look At His Crypto Policies</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41782783/coinbase-ceo-brian-armstrong-welcomes-most-pro-crypto-congress-ever-as-end-to-gary-gensler">Coinbase CEO Brian Armstrong Welcomes &#8216;Most Pro-Crypto Congress Ever,&#8217; As End To Gary Gensler&#8217;s SEC Chair Stint Nears</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41773856/raoul-pal-urges-crypto-investors-do-not-use-leverage-do-not-lose-your-mind">Raoul Pal Urges Crypto Investors: &#8216;Do Not Use Leverage, Do Not Lose Your Mind&#8217;</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41782166/will-blockchain-adoption-by-big-institutions-hedge-against-inflation-and-boost-returns">Will Blockchain Adoption By Big Institutions &#8216;Hedge Against Inflation&#8217; And Boost Returns?</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41778985/the-bitcoin-act-of-2024-is-a-significant-proposal-will-it-redefine-us-crypto-regulation">The BITCOIN Act Of 2024 &#8216;Is A Significant Proposal&#8217; — Will It Redefine US Crypto Regulation?</a></li>
</ul>
Top Gainers:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>First Neiro On Ethereum (CRYPTO: NEIRO)</td>
<td>&nbsp;$0.001918</td>
<td>+42.2%</td>
</tr>
<tr>
<td>Uniswap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/uni/usd">UNI</a>)</td>
<td>&nbsp;$9.32</td>
<td>+32.1%</td>
</tr>
<tr>
<td>Lido DAO (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">LDO</a>)</td>
<td>&nbsp;$1.24&nbsp;</td>
<td>+29.3%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: With Bitcoin prices touching its new all-time high levels, crypto trader Jelle noted that Bitcoin broke out:
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> broke out from the local bull flat. Send it higher! <a href="https://t.co/csIyf5eHYw">https://t.co/csIyf5eHYw</a> <a href="https://t.co/yMRlzaoH8l">pic.twitter.com/yMRlzaoH8l</a>
&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1854224161809256758?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Crypto trader Crypto Bully suggests a &#8220;buy-the-dip&#8221; approach for Bitcoin, advising minimal action as long as Bitcoin holds around the $69,000 level. He cautions against attempting shorts unless for quick scalps and anticipate a potential price dip to the $68,000–$70,000 range within the next week or two. He <a href="https://x.com/BullyDCrypto/status/1854231370455040212">recommends</a> buying the next dip in altcoins, noting that their main positions have been established since August, with limited leveraged trades currently active. </figcaption></figure>
CryptoCon predicts a Bitcoin bull market is locked and loaded for 2025:
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What can I say? The wind is at our backs and the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> bull market is locked and loaded for 2025 just as it always was according to the Halving Cycles Theory. Prosperity inbound, for all crypto. <a href="https://t.co/4EXcfgPdVf">pic.twitter.com/4EXcfgPdVf</a>
&mdash; CryptoCon (@CryptoCon_) <a href="https://twitter.com/CryptoCon_/status/1854225304006640028?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41783773/the-future-of-crypto-regulation-under-a-trump-administration-headwinds-are-now-tailwinds">The Future Of Crypto Regulation Under A Trump Administration: &#8216;Headwinds Are Now Tailwinds&#8217;</a></li>
</ul>
Image: Shutterstock

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