Bitcoin, Ethereum, XRP, Dogecoin Extend Rally: 'Hold Above $108,450 We'll Target All-Time Highs'
The crypto market continues to build momentum, with Bitcoin pushing past $108,000, joined by fresh gains in Ethereum, XRP, and Dogecoin. Sentiment is bullish as traders eye critical resistance and support levels that could determine the next leg of the rally.
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 20.9% and daily active addresses falling by 6.8%. Transactions greater than $100,000 are down from 7,661 to 7,374 in a single day. Exchanges netflows are down by 152.9%.
- Coinglass data reports 75,198 traders were liquidated in the past 24 hours with the total liquidations at $216.14 million.
Notable Developments:
- Truth Social’s Bitcoin And Ethereum ETF Filing With SEC Aims For 75% BTC, 25% ETH
- Ethereum Foundation Steps In With Financial Aid for Tornado Cash Developers
- Stablecoins Set To Be Internet’s Digital Cash, GENIUS Act May Position US As Global Hub, Says Bernstein
- Strategy Acquires $1.05 Billion In Bitcoin, Pushes Holdings To 592,100 BTC With 19.1% Yield In 2025
- Justin Sun’s Tron Plans US Public Listing Amid Deepening Ties With Trump Family And Crypto-Political Shift
- Anthony Scaramucci Welcomes Philippe Laffont’s Bitcoin Advocacy After Billionaire Hedge Fund Manager Says Apex Crypto Has Become ‘Central’ To Investment Portfolios
- Metaplanet Surpasses Coinbase In Bitcoin Holdings With $117 Million Purchase: Japan’s Crypto Giant Now Targets 1% Of BTC Supply By 2027
Top Gainers:
Trader Notes: Crypto trader Wick observes Bitcoin attempting a breakout from a squeeze setup, noting that a confirmed break and hold above $108,450 could trigger a move toward new all-time highs.
CryptoCon highlights a back-to-back Hash Ribbons buy signal, a rare and historically powerful bullish indicator. This signal, combined with low volatility, has typically preceded major rallies.
Interestingly, CryptoCon notes that Bitcoin has not yet entered the High Volatility zone where past cycle tops have formed. He refers to the current phase as the "weed-out cycle," testing the conviction of market participants before the next major leg higher.
On the other side of the trade, Roman warns of potential downside, citing bearish technicals. He points out an overextended Stochastic RSI, bearish RSI divergences, and weakening price action. Despite the macro uptrend, Roman believes a correction could be on the horizon after Bitcoin’s 7x move from 2022 lows, even if the broader bull run continues.
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