Cryptocurrency markets are trading lower on Monday, with analysts fearing a further slide in prices.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $116,355.23 |
| Ethereum | (CRYPTO: ETH) | $4,369.60 |
| Solana | (CRYPTO: SOL) | $183.81 |
| XRP | (CRYPTO: XRP) | $3.07 |
| Dogecoin | (CRYPTO: DOGE) | $0.2239 |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001275 |
Notable Statistics:
- Coinglass data shows 124,371 traders were liquidated in the past 24 hours for $530.47 million.
- SoSoValue data shows net outflows of $14.1 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net outflows of $59.3 million.
- The top losers in the past 24 hours include Pump.fun (CRYPTO: PUMP), Sky (CRYPTO: SKY) and Virtuals Protocol (CRYPTO: VIRTUAL).
Notable Developments:
- BitMine’s Crypto Holdings Surpass 1.52 Million ETH To Become Second-Biggest Crypto Treasury
- Tom Lee’s $5 Billion Ethereum Bet Puts Bitcoin Maximalists On Notice
- Strategy’s Bitcoin Stash Hits 629,376 BTC—More Than Tesla, Coinbase, Marathon Digital Combined
- Bitcoin, Ethereum ETFs Diverge As ETH Takes The Lead BlackRock’s IBIT Shines
- Circle-Backed Company’s Yen Stablecoin Nears Official Approval In Japan: Report
- Shiba Inu Coin Teams Up For K-Pop Festival With Squid Game Challenges And Top Korean Rap Stars
Trader Notes: Bob Loukas highlighted that Bitcoin failed to break its all-time highs late in the weekly cycle, likely peaking around Week 18.
However, a swift recovery could still alter that outcome.
Despite the short-term setback, the broader four-year cycle remains bullish, with upside surprises still possible.
Meanwhile, altcoins are showing strength as Bitcoin dominance declines, signaling typical late-stage cycle behavior.
More Crypto Online noted that Bitcoin's focus remains on whether wave 2 has completed.
While it's too early to confirm, a decisive break above the yellow trendline would serve as the first indication that wave 2 may have bottomed.
Daan Crypto Trades observed that Bitcoin recently retested the 0.786 Fibonacci retracement level, historically a strong reaction point in this cycle.
The larger trading range has held steady over the past six weeks.
In the short-term, reclaiming $117,500 would be crucial to moving back above the 4-hour 200MA and EMA.
CrediBULL Crypto added that Bitcoin has tested the expected range lows as anticipated.
If this marks the local bottom, sideways price action within the range could follow before a stronger upward move.
The $114,000–$116,000 zone remains the key area of interest, while a push above $120,000 would help confirm this as a local bottom. The strength and nature of the next move, impulsive or corrective, will indicate which scenario is playing out.
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