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Bitcoin, Ethereum, Dogecoin Mixed As Rally Hits Pause: Analyst Says Apex Crypto 'A Brain Dead Play' Now, Investors Lucky If They 'Get A Dip Below This Level'

Grand News Network | November 6, 2023

Major cryptocurrencies saw a mixed performance on Sunday evening. Bitcoin price experienced a week of consolidation, hovering between $34,000 and $35,000.

Cryptocurrency Gains +/- Price (Recorded 9:30 p.m. EST)
Bitcoin (CRYPTO: BTC) -0.52% $34,911
Ethereum (CRYPTO: ETH) +1.68% $1,887
Dogecoin (CRYPTO: DOGE) +3.62% $0.071

What Happened: Bitcoin came very close to reaching the $36,000 mark, but then experienced a sudden change in direction and corrected to $34,250.

The recent rally has boosted investor confidence in Bitcoin as they eagerly anticipate upcoming events that could further influence its market value. These include the next Bitcoin halving and the potential approval of BTC Exchange-Traded Funds (ETFs). 

After a rigorous five-week trial, a New York jury has found Sam Bankman-Fried, the founder and former chief executive of FTX, guilty of defrauding his customers and lenders. Looking ahead, a tentative sentencing date of March 28, 2024, has been set for Bankman-Fried. The potential consequences are grave, as he could face the possibility of spending decades behind bars. In fact, the theoretical maximum sentence stands at a staggering 115 years.

Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga’s exclusive event – Future of Digital Assets. Tickets are flying-  get yours!

Top Gainer (24 Hour)

Cryptocurrency Gains +/- Price (Recorded 9:30 p.m. EDT)
Immutable +31.61% $1.11
Pancake swap +26.34% $2.37
MultiversX +20.74% $47.31

The global crypto market cap currently stands at $1.28 trillion, reflecting a decrease of 3.05% in the past 24 hours.

U.S. equity futures showed little movement on Sunday evening following the major averages’ strongest performance of the year so far.

Futures associated with the Dow Jones Industrial Average edged up 13 points, or 0.04%. S&P 500 futures also registered a slight increase of 0.03%, while Nasdaq 100 futures remained just below the flat line, at 0.01%.”

The ...

Full story available on Benzinga.com

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