The cryptocurrency market opened the week with gains as digital asset investment products saw their ninth consecutive week of inflows. Fuelling the rally, BlackRock made headlines with a $239 million Bitcoin purchase over the weekend.
Notable Statistics:
IntoTheBlock data shows Bitcoin and Ethereum large transaction volume decreased 20.9% and 26.4% respectively. Also, daily active addresses witnessed a drop of 6.8% and 8.1% each in a single day. Coinglass data shows 79,368 traders were liquidated in the past 24 hours with the total liquidations at $279.38 million. SoSoValue data shows net inflows of $301.6 million into spot Bitcoin ETFs while Spot Ethereum ETFs saw net outflows of $2.18 million.
Trader Notes: Crypto chart analyst Ali Martinez flagged a sell signal on Bitcoin’s hourly chart, indicating a possible short-term dip.
Trader Tardigrade sees a potential bullish reversal for Dogecoin, pointing to an “Adam and Eve” bottoming pattern.
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Michael van de Poppe highlights Ethereum’s steady formation of higher lows, hinting at a likely breakout. If the rally fails, he identifies the key buy zone between 0.022-0.023 BTC. A successful defense of that level could send ETH toward 0.03 BTC.
CW notes that XRP is currently testing a major sell wall. A clean breakout could spark a rapid move back to previous price levels.
For Solana, Sjuul (aka AltCryptoGems) sees a strong bounce underway but cautions that untested equal lows near $140 suggest potential downside remains. A dip into that support area could tap into significant liquidity.
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BTCGrayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest$47.461.82%Stock Score Locked: Want to See it?
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Reveal Full ScoreEdge RankingsMomentumNot AvailablePrice TrendShortMediumLongOverview$BTCBitcoin$106688.511.02%$DOGEDogecoin$0.17650.54%$ETHEthereum$2608.662.38%$SHIBShiba Inu$0.0000120.66%$SOLSolana$155.701.78%$XRPRipple$2.264.22%Market News and Data brought to you by Benzinga APIs
