Cryptocurrency markets are slightly down on Friday morning as BTC faces resistance near the $107,000 mark, with thin spot volumes and weak speculative drive raising questions about the rally's strength.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $107,151.6 |
| Ethereum | (CRYPTO: ETH) | $2,454.9 |
| Solana | (CRYPTO: SOL) | $142.2 |
| XRP | (CRYPTO: XRP) | $2.09 |
| Dogecoin | (CRYPTO: DOGE) | $0.1611 |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001123 |
Notable Statistics:
- IntoTheBlock data shows Bitcoin and Ethereum large transaction volume decreased 7.2% and edged 0.5% higher, respectively. Daily active addresses for BTC and ETH were up 2.5% and down 13.6%, respectively.
- Coinglass data shows 82,822 traders were liquidated in the past 24 hours for $193.17 million.
- SoSoValue data shows net inflows of $228.15 million into spot Bitcoin ETFs on Thursday, while Spot Ethereum ETFs saw net outflows of $26.5 million.
Trader Notes: Crypto trader Daan Crypto Trades noted Bitcoin hovering around large liquidation clusters, which may act as short-term liquidity magnets.
These clusters, based on historical open interest, suggest a potential grab scenario before BTC chooses direction.
However, they are only rough guides and may not reflect current closed positions.
Glassnode highlighted that despite BTC peaking near $111,000, spot volumes are weak, with just $7.7 billion traded, far lower than past rally peaks.
This signals low speculative appetite and possible fragility in the current uptrend.
Ted Pillows noted ETH is holding a key low-end range, and if support holds, a move back to the range high is plausible.
Crypto Banter revealed ETH whales making the largest daily purchase since 2018, scooping nearly 1 million ETH.
Analyst Javon Marks believes Dogecoin could follow its historical cycle behavior, potentially surging 120x from current levels if it mirrors past parabolic runs, targeting prices as high as $20.
Veteran financial trader Matthew Dixon said Solana is displaying a bullish wave structure, with a likely Wave 2 correction nearing completion after bouncing from the $126.03 low. He sees a strong risk/reward setup forming as SOL preps for the next impulsive leg higher.
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