Cryptocurrency markets are trending higher, supported by increased corporate buying and growing hope of Federal Reserve rate cuts. Meanwhile, spot Bitcoin ETFs have seen inflows for 11 straight days, further boosting market confidence.
Notable Statistics:
IntoTheBlock data shows large transaction volume increasing by 9%, and daily active addresses growing by 12%. Transactions greater than $100,000 remained relatively flat at 11,250. Exchange net flows are down by 93.5%. CoinGlass data reports that 79,254 traders were liquidated in the past 24 hours, with the total liquidations amounting to $206.97 million.
Notable Developments:
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Trader Notes: Crypto trader Skew points out that Bitcoin is consolidating just below key higher timeframe supply and resistance levels. He notes that ask orders are creeping closer to the current price, possibly indicating front running of these higher timeframe zones.
The order book is skewed toward sell-side liquidity, which influences traders’ risk appetite. Skew believes a broad bullish turn is unlikely until Bitcoin reclaims $110,000 or more, but emphasizes watching passive flows subtly guiding price action for now.
Rekt Capital highlights that historically, after Bitcoin dominance successfully retests the 64% support level, it often rallies toward 71% within one to two months. This pattern suggests a near-term rotation back into Bitcoin from altcoins could be underway if the trend holds.
Byzantine General adds that Bitcoin is showing strong bullish momentum, having broken both a diagonal trendline and the volume point of control, despite funding rates remaining generally negative. Bitcoin’s price action is also currently outperforming about 90% of altcoins.
Meanwhile, trader Momin expects Bitcoin to briefly rise toward the $109,000 level, triggering short sellers’ stop losses before dropping back to retest support and form a higher low. In contrast, major altcoins appear weak and may drop sharply once Bitcoin stabilizes. The ideal market scenario would see all major coins forming higher lows, confirming a broader trend reversal.
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How Bitcoin Is Maturing To A Global Liquidity Asset: Report
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