Cryptocurrency markets are trading largely sideways on Friday, showing a mild negative bias after recent volatility.
Notable Statistics:
- IntoTheBlock data shows Bitcoin and Ethereum large transaction decreased by 6% and grew 1.9%, respectively in a single day. Daily active addresses grew 9.4% and dropped 1.5%, respectively.
- Coinglass data shows 119,676 traders were liquidated in the past 24 hours for $434.18 million.
- The top gainers in the past 24 hours include Flare (CRYPTO: FLR), Mantle (CRYPTO: MNT) and Aerodrome Finance (CRYPTO: AERO).
Notable Developments:
- Fed Ends Specialized Crypto Bank Oversight, Folding It Into Normal Supervision
- Bitcoin, Ethereum, XRP Teeter Following Inflation Scare: Why Is The Crypto Market Suddenly On Edge?
- Citi’s Crypto Custody Gambit Puts Blockchain ETFs In The Spotlight
- Digital Currency Group Sues Genesis Over $1.1 Billion 2022 Bailout Amid Bankruptcy Dispute
- Norway’s Sovereign Wealth Fund Doubles Down On Bitcoin Via MSTR, Metaplanet Investments
- Circle Announce Public Offering Of 10 Million Shares At $130 Each
Trader Notes: Crypto trader Mookie observed Bitcoin briefly touching $119,000 overnight before easing back to $117,000 on Friday, noting dominance remains below 60%.
He highlighted the $117K–$119K range as Bitcoin's current "comfort zone," with traders watching the weekend for a potential push toward a new all-time high.
Income Sharks predicts Bitcoin may soon break a trendline, which could spark more panic than necessary. He expects the market to eventually settle into a muted channel that still holds support.
MaxBecauseBTC emphasized that while Bitcoin is showing short-term weakness, Ethereum could continue running if overall market conditions remain strong. He identifies $115,000 as a key support; a break below this level could push BTC toward $110,000, with a major volume gap possibly driving it even lower.
Michael van de Poppe added that corrections are normal, noting Bitcoin recently rejected at a key level. He expects BTC to range lower for a while before attempting an upward breakout, which could give altcoins an opportunity to perform strongly.
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