Cryptocurrency markets are trading higher on Wednesday after President Trump dismissed rumors that he may remove Federal Reserve Chair Jerome Powell from his post.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $119,599.03 |
| Ethereum | (CRYPTO: ETH) | $3,341.05 |
| Solana | (CRYPTO: SOL) | $173.41 |
| XRP | (CRYPTO: XRP) | $3.05 |
| Dogecoin | (CRYPTO: DOGE) | $0.2082 |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001433 |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 5.8% and daily active addresses falling by 8%. Transactions greater than $100,000 are down from 16,402 to 12,730 in a single day. Exchanges netflows are down by 3,017.9%.
- Coinglass data reports 105,927 traders were liquidated in the past 24 hours for $366.21 million.
- The top gainers in the past 24 hours include Bonk (CRYPTO: BONK), Floki (CRYPTO: FLOKI) and SPX6900 (CRYPTO: SPX).
Notable Developments:
- Donald Trump To Fire Jerome Powell? Polymarket Traders Say ‘No, But…’
- Did He Learn Nothing? Trader Who Lost $100M Returns With High-Leverage Bets On Bitcoin
- $600M In 1 Day: Why Are Bitcoin, Ethereum ETF Suddenly So Bullish?
- Inside Trump’s Oval Office Crypto Push: Why Did 11 Republicans Suddenly Change Their Vote?
- Jane Fraser Says Citigroup Exploring Launch Of Citi Stablecoin — CEO Says Dollar Pegged Cryptos ‘Next Evolution’ Of Payments
- $100M In PAC Funding, But Still No Crypto Laws — What Coinbase Wants Washington To Know
Trader Notes: Crypto trader XO reflects on Bitcoin’s evolving market behavior, pointing out a noticeable shift from the sharp, aggressive breakouts of past cycles to a more measured and steady price action in the current one.
He attributes this to rising institutional and commercial participation, comparing it to how traditional indices like the S&P 500 and Nasdaq gradually grind higher after breaching all-time highs.
While Bitcoin remains a high-beta asset, its growing market cap and adoption may be steering it toward more mature, cycle-driven dynamics.
Crypto trader Jelle highlights Bitcoin's strong recovery on the 1-hour chart, signaling a return of bullish momentum. He notes that a break above $120,000 could act as a trigger for a fresh all-time high breakout.
Stockmoney Lizards adds that although it's not a full-blown altseason yet, Bitcoin dominance is likely to persist for a few more months.
However, this doesn't rule out altcoin rallies, many could still rise alongside BTC. He advises to enjoy the ride, even if Bitcoin is leading the charge.
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