Bitcoin, Ethereum, XRP Slide Despite US-Japan Trade Deal

Cryptocurrency markets are down on Wednesday morning, despite President Trump’s trade deal with Japan expected to have a positive effect on equities.

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.

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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.

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