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Benzinga
Benzinga
Business
Khyathi Dalal

Bitcoin Steadies At $116,000 While XRP, Dogecoin Push Higher

Antalya,,Turkey,-,December,4,,2024:,Bitcoin,And,Cryptocurrency,Investment

Cryptocurrency markets are trading sideways one day ahead of the Federal Reserve’s interest rate decision.

Cryptocurrency Ticker Price
Bitcoin (CRYPTO: BTC) $116,505.43
Ethereum (CRYPTO: ETH) $4,477.88
Solana (CRYPTO: SOL) $237.38
XRP (CRYPTO: XRP) $3.03
Dogecoin (CRYPTO: DOGE) $0.2676
Shiba Inu (CRYPTO: SHIB) $0.00001319

Notable Statistics:

  • Coinglass data shows 101,022 traders were liquidated in the past 24 hours for $194.31 million.    
  • SoSoValue data shows net inflows of $260 million into spot Bitcoin ETFs on Monday. Spot Ethereum ET'Fs saw net inflows of $359.7 million.
  • In the past 24 hours, top gainers include Immutable (CRYPTO: IMX), Monero (CRYPTO: XMR) and Filecoin (CRYPTO: FIL).

Notable Developments:

Trader Notes: Crypto trader MaxBecauseBTC revisited an old fractal, comparing the launch of the Gold ETF with the Bitcoin ETF, noting BTC has closely mirrored gold's path for over a year. If the pattern holds, Bitcoin could climb past $190,000.

Daan Crypto Trades said Bitcoin is holding strong within its range, even as stop hunts play out ahead of the Fed decision.

Nic Puckrin called September a pivotal month: Bitcoin has repeatedly failed to close above a long-term trendline that capped the last two bull markets. Whether BTC finally breaks through or rejects again could set the tone for the cycle.

CrediBULL Crypto highlighted a clean triple tap pattern, offering two scenarios:

  • Demand holds, turning the third tap into a base for upside expansion above $117,000.
  • BTC stalls at range highs, leading to reversal toward $113,000.

Given current market context, Scenario 1 looks more likely — expecting demand to hold and liquidity grab above $117,000. If demand breaks, watch $113,000 next.

Read Next:

Image: Shutterstock



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