Cryptocurrency markets are down Tuesday morning ahead of the consumer price inflation report due later in the day.
Notable Statistics:
IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 68.8% and 114%, respectively in a single day. Daily active addresses grew 17% and declined 3.1%, respectively. Coinglass data shows 141,584 traders were liquidated in the past 24 hours for $433.59 million. SoSoValue data shows net inflows of $178.2 million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $1.02 billion.
Trader Notes: Crypto chart analyst Ali Martinez noted BTC often moves in the opposite direction before CPI/PPI releases, either dipping before and rallying after or vice versa.
Captain Faibik flagged another rejection at $120,000. With BTC trading in a rising wedge, bulls must hold wedge support and break $120,000 to maintain control, while a breakdown could flip sentiment bearish.
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Degen Hardy highlighted ETH’s strong four-month rally but sees scope for a short-term pullback. Key long-entry zones: $4,000 (major support/resistance), $3,400 (untapped weekly), and $2,400 (untapped monthly/daily).
For XRP, Martinez pointed to the multi-year triangle breakout in Nov 2024, maintaining a bullish target of $12.60.
Trader XO sees a mean reversion/rotational day trade setup unfolding. Local resistance flagged yesterday, with $168-$170 as the key reaction zone; SOL still holding spot positions from recent lows.
For Dogecoin, Degen Hardy’s plan remains unchanged. If $0.22 support breaks, next potential long zones are $0.19 (untapped daily/weekly) and $0.16 (untapped daily/monthly).
Read Next:
Bitcoin, Ethereum Entering Pivotal Bull Market Phase — Here’s What It Means
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Reveal Full ScoreEdge RankingsMomentum88.50Price TrendShortMediumLongOverview$DOGEDogecoin – United States dollar$0.2207-0.64%$ETHEthereum – United States dollar$4283.001.39%$SHIBShiba Inu – United States dollar$0.000013-1.08%$SOLSolana – United States dollar$174.82-0.04%$XRPRipple – United States dollar$3.130.12%Market News and Data brought to you by Benzinga APIs
