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Wall Street JournalEN
Bitcoin, Ethereum, Dogecoin Hold Steady While XRP Dips — 'Tough Conditions, Hang In There,' Trader Says
After several weeks of strong gains, cryptocurrency markets are taking a pause to consolidate.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin (CRYPTO: BTC) | $103,832.61 | +0.8% |
| Ethereum (CRYPTO: ETH) | $2,584.56 | +2.3% |
| Solana (CRYPTO: SOL) | $170.10 | +0.2% |
| XRP (CRYPTO: XRP) | $2.40 | -1.5% |
| Dogecoin (CRYPTO: DOGE) | $0.2254 | +2.05% |
| Shiba Inu (CRYPTO: SHIB) | $0.00001491 | +0.9% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 5.4% and daily active addresses falling by 6.3%. Transactions greater than $100,000 are up from 11,304 to 11,517 in a single day. Exchanges netflows are down by 466.7%.
- Coinglass data reports 90,592 traders were liquidated in the past 24 hours for $233.13 million.
Notable Developments:
- Donald Trump’s Crypto Ties Could Be A Banana Skin For The Industry: Report
- 14 US State Pension Funds Now Hold $632 Million In Strategy Stock
- Basel Medical Eyes $1 Billion Bitcoin Bet To Fuel Asia Healthcare Expansion
- Bitcoin Up 1.46% as JP Morgan Predicts It Will Outperform Gold, Public Companies Add Digital Assets
- Coinbase Under SEC Investigation For Overstatement Of User Numbers
- Wisconsin Pension Fund Exits $300M Bitcoin ETF Position
Top Losers:
| Cryptocurrency | Price | Gains +/- |
| Pi (CRYPTO: PI) | $0.7700 | -12.6% |
| Optimism (CRYPTO: OP) | $0.7336 | -4.9% |
| Bonk (CRYPTO: BONK) | $0.00002060 | -4.5% |
Trader Notes: According to Santiment, Bitcoin is encountering stiff resistance in the $104,000–$105,000 zone, sparking short-term bearish sentiment across the market.
However, history suggests that when traders become fearful, it often sets the stage for a surprise rally.
A balanced 1:1 bullish-to-bearish social sentiment ratio is currently in play, which analysts say could be an early signal of a shift in market psychology, potentially preceding a breakout.
Crypto chart analyst Ali Martinez highlighted $98,732 as a critical demand zone, where over 1.19 million BTC were accumulated by 1.19 million wallets.
He noted that a daily close above $107,000 would be a bullish confirmation that "will take Bitcoin places."
The Cryptomist added that if Bitcoin can clear $104,400, the next targets lie between $108,000 and $110,000, likely dragging altcoins higher with it.
Meanwhile, Michael van de Poppe believes that as long as BTC holds above $98,000, it's in the final consolidation phase before a push to new all-time highs.
Trader Tim cautioned that Bitcoin and Ethereum are showing mixed signals heading into the weekend:
- Ethereum is trading between its Monday range and last week's high, a potential deviation setup that could favor short positions.
- Bitcoin hasn’t yet reclaimed its Monday high, but a push above it could spark stop runs in ETH, potentially propelling it toward $3,000.
Tim advised traders to remain nimble in what he described as a choppy, tricky environment where it’s easy to get caught offside. “Tough conditions to trade lately. Hang in there. Stick and move.”
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Image: Shutterstock