Cryptocurrency markets are trading mixed on Thursday morning, with Bitcoin dipping but altcoins outperforming.
Notable Statistics:
- IntoTheBlock data shows Bitcoin and Ethereum large transaction decreased by 18.2% and grew by 54.6%, respectively. Daily active addresses dropped 4% and jumped 5%, respectively.
- Coinglass data shows145,767 traders were liquidated in the past 24 hours for $544.11 million.
- SoSoValue data shows net inflows of $799.4 million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $726.7 million.
Trader Notes: Crypto trader Jelle says Bitcoin's surge is fueled by rising global liquidity, a macro tailwind that continues to support its ascent.
With this backdrop, the long-standing $150,000 target now appears conservative, hinting at potential for even higher valuations.
Crypto trader Posty highlights Bitcoin's recent breakout from a cup and handle pattern, which has already carried it to $123,000.
If BTC mirrors its previous 59% rally, he projects the next leg up to around $150,000. His advice: it may be time to start locking in some gains.
Ted Pillows, an OKX partner, says Ethereum is grinding toward $4,000, and any pullbacks in the near term are likely to be buy-the-dip opportunities.
Crypto chart analyst Ali Martinez flagged a major bullish breakout on Dogecoin's chart, suggesting renewed upside momentum as DOGE appears ready for another leg higher.
Daan Crypto Traders noted Solana has flipped its daily 200MA/EMA and is closing in on the key $180 resistance, a level it hasn't decisively cleared in nearly five months. He adds that the strong performance from meme coins is giving SOL a tailwind, but $180 remains the key level to watch for a breakout.
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