Bitcoin Holds $64,000, Ethereum Up 2%, but XRP, Dogecoin Disappoint

Major cryptocurrencies rallied over 1% on Wednesday, buoyed by continuing strength in the equity market.

Cryptocurrency	Ticker	Price
Bitcoin	(CRYPTO: BTC)	$64,717
Ethereum	(CRYPTO: ETH)	$1,914
Solana	(CRYPTO: SOL)	$74.12
XRP	(CRYPTO: XRP)	$1.06
Dogecoin	(CRYPTO: DOGE)	$0.06995
Shiba Inu	(CRYPTO: SHIB)	$0.054907

Notable Statistics:

• Coinglass data shows 69,958 traders were liquidated in the past 24 hours for $216.18 million.       
• SoSoValue data shows net inflows of $211.5 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $53.8 million.
• In the past 24 hours, top gainers include Pump.fun, Uniswap and Zcash.

Notable Developments:

• S&P 500 Hits Record Highs—Why Does Bitcoin Not Join the Rally?
• Bitcoin Loses to Stocks for the First Time in 14 Years: What Is Happening?
• Arthur Hayes Predicts Bitcoin ‘Crack-Up Boom’ When AI Credit Bubble Unwinds
• Have All the Bitcoin Sellers Left? If a $100M Hack Makes Nobody Panic That Means Yes, Experts Argue
• SEC Is ‘Ready, Willing And Able’ To Replace CLARITY Act If It Fails, Bitwise’s Matt Hougan Says
• Thune Floats Last-Minute CLARITY Act Vote, but Polymarket Odds Crash to 14%

Trader Notes:

Crypto chart analyst Ali Martinez noted Bitcoin has flashed a bullish SuperTrend buy signal, a technical indicator that previously preceded a 16% rally from $57,700 to $68,900 after its last trigger on July 3.

Trader Crypto Bitlord believes Bitcoin is on the verge of a sharp upside breakout, pointing to an early move above key 4-hour resistance. He argues that the market is overdue for a large bullish “god candle” after an extended period without a strong vertical rally.

Swing and chart trader Jesse Olson maintains that Bitcoin remains in a bear market but believes the cycle is approaching a turning point.

Based on the model, October could mark the bottom, followed by a 45-month bull run that ultimately drives Bitcoin above $180,000.

Image: Shutterstock