Bitcoin, Ethereum, XRP, Dogecoin Slide Despite Equities Rally
Cryptocurrency markets are trading lower on Wednesday despite equities making new highs.
Notable Statistics:
- IntoTheBlock data shows Bitcoin large transaction and daily active addresses increased by 121.9% and 14.7%, respectively. Transactions greater than $100,000 jumped from 7,583 to 10,609. Exchanges netflows surged by 225.7%.
- Coinglass data shows 207,011 traders were liquidated in the past 24 hours for $611.01 million.
- The top losers in the past 24 hours include Bonk (CRYPTO: BONK), Optimism (CRYPTO: OP) and XRP.
Notable Developments:
- Altcoin Speculation Surges: Is Crypto Headed For A Leverage-Fueled Meltdown?
- Polymarket Crypto Bettors See 50% Chance Of Fed Rate Cut In September Meet Amid Escalating Trump-Jerome Powell Clash
- Why Is Marathon Raising $1B Without Paying Interest? The Real Bet Behind Its Bold Bitcoin Move
- Ripple, Circle Push For Fed Access As $5.7 Trillion Stablecoin Surge Fuels Ambitions To Replace SWIFT, Says Industry Observer
- Cynthia Lummis Releases Draft Bill That Aims To Make US Global Crypto Capital, Says She Won’t ‘Allow’ Regulatory Confusion To Continue
- US ‘Economic Fascism’ Will Pump Bitcoin To $250,000, ETH To $10,000, Arthur Hayes Predicts
- BNY Taps Goldman Tech To Tokenize Traditional Finance—BlackRock, Fidelity Join In
Trader Notes: Crypto trader Altcoin Sherpa flagged the mid-$116,000 range as a critical support.
If Bitcoin dips into this zone, altcoins could shed another 10–20% from current levels.
He suggests cautiously beginning small positions now, but keeping capital ready to deploy if the market drops further.
A bounce is also possible from here, so he recommends staying vigilant.
Rekt Capital noted that Bitcoin is retesting the previously broken lower high resistance while also sitting near range low support.
Despite the chop, BTC remains within a broader consolidation structure, signaling stability rather than trend reversal.
Titan of Crypto identified an inverse head and shoulders pattern forming on the Bitcoin chart, targeting a move toward $144,000.
A retest of the neckline may occur but would likely serve to strengthen bullish momentum.
Alex Wacy argued that Bitcoin's rise to $140,000 might be "easier than it looks."
BTC is comfortably trading above the Investor Price Median ($92,000) and below the Hype Alert Level ($139,000), which suggests markets are not overheated.
According to Wacy, real FOMO may only begin once BTC breaks that $140K mark.
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