Cryptocurrency markets are trading relatively lower or flat as short-term Bitcoin holders are selling more than before.
| Cryptocurrency | Price | Earnings +/- |
| Bitcoin BTC/USD | $58,112.09 | -0.6% |
| Ethereum Ethereum/USD | $2,459.86 | -2.5% |
| Solarium SOL/USD | $131.69 | -1.2% |
| Dogecoin DOGE/USD | $0.09815 | +0.4% |
| shiba inu SHIB/USD | $0.00001328 | -1.3% |
Notable statistics:
- Data from IntoTheBlock indicated a 40.7% increase in net Bitcoin exchange flows, while daily active addresses grew by 6.2%. Transactions over $100,000 increased from 5,943 on September 1 to 8,962 on September 2.
- Data from Coinglass shows that 39,162 traders were liquidated in the past 24 hours, while total liquidations amounted to $98.72 million.
- Crypto chart analyst Ali Martinez cites data from Glassnode indicating that since mid-August, short-term holders have dumped 642,366 BTC. He claimed that these holders have a huge impact on Bitcoin prices.
Top losers:
| Cryptocurrency | Price | Earnings +/- |
| DOGS DOGS/USD | $0.001038 | -7.9% |
| Ghost AAVE/USD | $122.62 | -5.7% |
| Read DAO LDO/USD | $1.01 | -5.3% |
Trader Notes: As Bitcoin has been trading relatively flat and stuck in a range for the past few days, chart trader Peter Brandt noticed three things: the first is a continuous series of lower highs and lower lows, the second is the downward slope of lows showing a lack of energy, and lastly, duck that at no other point post-halving in Bitcoin's history has the king of cryptocurrencies taken so long to reach all-time highs.
Offering a slightly longer-term view, Rekt Capital marks $58,300 as the key level for a weekly close to enter new resistance.
CryptoCon in a detailed technical analysis reflects on the reliability of rainbow models and logarithmic curves, highlighting their success in predicting Bitcoin peaks in 2021. The trader believes Bitcoin could hit $180,000 by the end of next year, following the more optimistic curve.
Despite the sideways movement of Bitcoin price since March 2024, which has caused boredom and fear among investors, the author emphasizes that the final rally of cryptocurrencies is yet to come. While long-term holders are suggested to be patient, the next exciting phase, dubbed “Red Year 2025,” is approaching, CryptoCon said.
What's next?Bitcoin's influence as an institutional asset class is expected to be explored in depth at Benzinga's upcoming Future of Digital Assets event on November 19.
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