Cryptocurrency Markets Trade Higher on Positive Labor Market Data

Notable Statistics: Notable Developments: Top Gainers: Trader Notes: With Bitcoin prices hovering around the $62,000 mark, Daan Crypto Trades sees this as another

Cryptocurrency markets are trading higher on positive labor market data.

The price of Bitcoin (CRYPTO: BTC) was trading up 0.3% over the past 24 hours at $61,900. Other cryptocurrencies were also trading higher, with Ethereum (CRYPTO: ETH) up 0.8% over the past 24 hours at $4,400 and Dogecoin (CRYPTO: DOGE) up 1.2% at $0.27.

Here's a look at some of the top crypto gainers over the past 24 hours:

Crypto traders are also keeping an eye on the upcoming Future of Digital Assets event, which will be hosted by Benzinga on Nov. 19. The event will feature some of the top minds in the cryptocurrency space discussing the latest trends and developments.

Among the speakers at the event will be FTX.US president Brett Harrison, Ava Labs founder and CEO Emin Gün Sirer, and BlockFi vice president of product Kanav Kariya.

The event will also feature a fireside chat with Cowen, who will be discussing his highly anticipated crypto market predictions for 2023.

Don't Miss: Chart Of The Day: This Crypto Trader Sees Bitcoin Headed To New Highs By Next Week

Here's a look at some of the notable statistics from the past 24 hours:

Notable Developments: Cowen's April Prediction: In April, Cowen predicted a consolidation for six to nine months following Bitcoin's mid-cycle top. Now that six months have passed, Cowen points out that this marks the minimum time for consolidation.

If there's a labor market scare this quarter, Bitcoin could drop further, like to the 100-week SMA. This could extend consolidation to nine months like the previous cycle. Cowen advises hedging for both scenarios.

Daan Crypto Trades on Bitcoin: With Bitcoin prices hovering around the $62,000 mark, Daan Crypto Trades points out another effort to break through the $62,400 level.

"The longer it consolidates below here, the more likely a break higher will be,” Daan Crypto Trades said.

However, he doesn't expect much from Bitcoin as it's almost the weekend and the U.S. markets will be closed. A chop around these prices for the weekend will lead to a push higher in the next week, he said, adding, "Summer lull seasonality over, Q4 bull seasonality is in."

Jelle on Bitcoin Higher Lows: In another tweet, Jelle noted locking in a new higher low before the weekend.

"There we go, new higher low locking in right before the weekend. Rest of the year should be fun," Jelle said in a tweet.

Follow up on Benzinga Crypto for more updates on cryptocurrency markets.

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