Cryptocurrency markets are trading sideways on Tuesdayas Bitcoin attempts to reclaim the $120,000 mark.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $119,799.44 |
| Ethereum | (CRYPTO: ETH) | $3,711.00 |
| Solana | (CRYPTO: SOL) | $201.99 |
| XRP | (CRYPTO: XRP) | $3.56 |
| Dogecoin | (CRYPTO: DOGE) | $0.2662 |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001529 |
Notable Statistics:
- IntoTheBlock data shows Bitcoin large transaction volume and daily active addresses increased by 121.9% and 14.7% respectively. Transactions greater than $100,000 are up from 7,583 to 10,609 in a single day. Exchanges netflows are up by 225.7%.
- Coinglass data shows 150,038 traders were liquidated in the past 24 hours for $540.70 million.
- The top losers in the past 24 hours include Conflux (CRYPTO: CFX), Pump.fun (CRYPTO: PUMP) and Ethena (CRYPTO: ENA).
- Bloomberg analyst James Seyffart stated on X that five different Bitcoin and Ethereum funds on CBOE filed amendments with the SEC for obtaining the ability to do in-kind creation and redemption.
Notable Developments:
- Jamie Dimon Once Called Bitcoin A ‘Fraud’—Now JPMorgan Might Lend Against It
- Telegram Bots Reshape Avalanche Trading, But Are They The Future Of DeFi UX Or Just A Shortcut?
- Chamath Palihapitiya ‘Excited’ About Coinbase’s Upcoming Crypto Credit Card That Promises Bitcoin Rewards
- What Western Union’s Sudden Interest In Stablecoins Means For Your Money Transfers
- Justice Department Drops Case Against Kraken Founder Jesse Powell
Trader Notes: Crypto trader CJ outlined two potential bullish scenarios:
Scenario 1: Price dips into a 4-hour demand zone (visible on Coinbase but not all exchanges), triggers a sweep of recent highs, possibly signaling either a clue or a price anomaly.
Scenario 2: Current range is viewed as accumulation. A manipulation move below the range low into the daily fair value gap (FVG) could precede a strong rally. This would lead to distribution above current highs, potentially pushing Bitcoin to new all-time highs and extending towards ~$128,000.
Bitcoin Munger believes $150,000 is the next pit stop for Bitcoin on its way to $400,000.
Crypto Chase sees Bitcoin’s price action is progressing well.
The $118,400 S/R flip setup occurred when the traders missed it.
Now the key is continuation: if this is indeed the leg, bulls want to see momentum build from here rather than more retests around $118,000. The trader is watching for sustained strength from this point onward.
Read Next:
- ‘I’d Rather Have An iPhone Than A Landline’, Says Ether Machine CEO About Why He Doesn’t Own Bitcoin
Image: Shutterstock
