Bitcoin, Ethereum, XRP, Dogecoin Reverse As Market Dips On Weak Macro Data

Cryptocurrency markets are trading lower on Tuesday, following a soft ISM Services print.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 49.4% and 112.3%, respectively. Daily active addresses grew 15.9% and decreased 1.6%, respectively.
• Coinglass data shows 124,361 traders were liquidated in the past 24 hours for $326.58 million.   

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Trader Notes: Crypto trader Mags describes Bitcoin's current price movement as a "slow grind up before a massive breakout," suggesting that this steady climb could precede a significant move higher.

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Crypto General points to a weakening in Bitcoin dominance, noting that BTC has just swept buy-side liquidity—a signal that a potential drop may be next.

His strategy is to wait for Bitcoin to break its recent low before entering large, long positions on altcoins. He anticipates a major altseason once BTC dominance dips below 54%.

Crypto trader Jelle noted that Bitcoin was rejected at $115,400 on the lower timeframes but maintained that the broader trend remains bullish.

He called the price behavior typical of the summer months, even joking about shifting focus to chores while the market consolidates.

Michael van de Poppe highlighted BTC's failure to break a key resistance zone, prompting the current correction.

He says the trend still leans downward, viewing this as a buy-the-dip setup. Van de Poppe expects a new low to form, potentially sweeping out remaining liquidity before a stronger recovery begins.

Read Next: 

• Here’s When You’ll Know If A Bitcoin, Ethereum Rally In Q4 Is Coming

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