Bitcoin, Ethereum, Dogecoin End Week With Strong Sell-Off As Traders React To Roaring Kitty Stream

Cryptocurrency markets are trading down with a liquidation cascade following the Roaring Kitty live stream ending the trading week on a negative note.

Cryptocurrency Price Gains +/-
Bitcoin (CRYPTO: BTC) $69,334.36 -1.9%
Ethereum (CRYPTO: ETH) $3,696.18 -2.7%
Solana (CRYPTO: SOL) $162.82 -3.7%
Dogecoin (CRYPTO: DOGE) $0.1484 -7.1%
Shiba Inu (CRYPTO: SHIB) $0.00002367 -6.1%

Notable Statistics:

  • Coinglass data noted $337.08 million in crypto liquidations in just four hours, with the majority accounting for long liquidations. In the past 24 hours, 158,083 traders were liquidated.
  • IntoTheBlock data noted that Bitcoin holders currently in profit are down from 98% to 87%. On the other hand, exchange netflows increased 209% in single day.
  • With Spot Bitcoin ETF inflows of $217.78 million on June 5, total inflows since the ETFs started trading in early January crossed the $15 billion mark.
  • Bitcoin Archive noted that Bitcoin is in the second longest period of consolidation (84 days) since it bounced off the bear-market low of $15,500.

Notable Developments:

Franklin Templeton Goes Beyond Bitcoin, Ethereum, Eyes New Crypto-Focused Investment Fund For Institutional Investors

Bitcoin Peak of $120,000 By Late 2024, Major Alt Season To Follow: Bitfinex

Customers Bank Ends Services For Some Crypto Hedge Funds

Top Losers:

Cryptocurrency Price Gains +/
Dogwifhat (CRYPTO: WIF) $2.83 -13%
Chilliz (CRYPTO: CHZ) $0.1238 +13%
SingularityNET (CRYPTO: AGIX) $0.7591 -12.8%
Trader Notes: In response to the much-awaited Roaring Kitty livestream, Wazz Crypto noted in a tweet, “This stream was an extinction-level event for many Solana meme coins.”

Crypto trader Stoic analyzed the current situation and concluded:

Another trader, Willy Woo sees one to three weeks more of bullish impulse.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: Bitcoin, Ethereum ETF Could Make ‘June A Really Good Month For Altcoins,’ Predicts Veteran Trader

Image: Shutterstock


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