Cryptocurrency markets are down on Wednesday morning, despite President Trump’s trade deal with Japan expected to have a positive effect on equities.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $117,943.47 |
| Ethereum | (CRYPTO: ETH) | $3,646.37 |
| Solana | (CRYPTO: SOL) | $196.64 |
| XRP | (CRYPTO: XRP) | $3.44 |
| Dogecoin | (CRYPTO: DOGE) | $0.2546 |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001474 |
Notable Statistics:
- IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 121.9% and 60.7%, respectively. Daily active addresses grew 14.7% and 11.1%, respectively.
- Coinglass data shows 104,769 traders were liquidated in the past 24 hours for $267.08 million.
- SoSoValue data shows net outflows of $67.9 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net inflows of $533.9 million.
Trader Notes: Bitcoin continues to hold strong above its recent bullish flag breakout, with trader CryptoBusy noting that last week’s momentum confirms a bullish structure.
As long as BTC holds above $112,000, the move toward $140,000 remains on track.
However, not everyone is convinced.
Michael van de Poppe warns that this could be another liquidity sweep, not a real breakout, suggesting a potential retest of range lows.
He also highlights gold's strength, which could signal upcoming altcoin weakness.
For Ethereum, van de Poppe sees a bearish divergence after its recent $1,200 rally.
ETH is now printing a lower high; it must reclaim $3,800 to resume upside. Otherwise, a pullback to $3,400 is likely.
Crypto chart analyst Ali Martinez reports XRP has broken out of a bullish flag and is now eyeing the $15 mark. A weekly chart shows a strong broader breakout structure that supports this upward move.
More Crypto Online noted Solana may be in a wave 4 correction, with critical support between $189 and $197.76.
If this zone fails, the larger wave 4 structure may unfold further, with $160 as the key to maintaining bullish momentum.
GalaxyBTC draws attention to Dogecoin, which seems to be mirroring its October 2024 setup, when it spiked from $0.10 to $0.40 in weeks.
If history repeats, another explosive DOGE rally could be around the corner.
Read Next:
- ‘I’d Rather Have An iPhone Than A Landline’, Says Ether Machine CEO About Why He Doesn’t Own Bitcoin
Image: Shutterstock
