Cryptocurrency markets are retreating as Bitcoin's uptrend falters due to profit-taking after an intraday high above $125,000.
Notable Statistics:
- Coinglass data shows 179,559 traders were liquidated in the past 24 hours for $615.98 million.
- In the past 24 hours, top losers include Zcash (CRYPTO: ZEC), Bonk (CRYPTO: BONK) and SPX6900 (CRYPTO: SPX).
Notable Developments:
- S&P Global Brings Bitcoin To Wall Street With The First Crypto Stock Market Benchmark
- BNB Flips XRP, USDT To Become Top 3 Coin Behind Bitcoin, Ethereum
- CoinShares Makes Altcoin Investing Simple With Its New DIME ETF
- NYSE Parent ICE Stock Surges After Reported $2 Billion Polymarket Investment
- Ethereum To Rise Above $5,000 In 2025? Polymarket Bettors See 87% Odds As Arthur Hayes Loads Up On ETH
Trader Notes: Crypto trader Stockmoney Lizards noted that the current dip is likely to end around $118,000–$119,000, setting the stage for the next upward leg.
Cold Blooded Shiller highlighted that bears are temporarily in control, as profit-taking pressures push Bitcoin lower in the short term, validating the minor pullback.
Byzantine General emphasized $118,000 as a key support level, waiting to see if it holds to provide a favorable entry for the next rally.
CryptoUB explained that this is Bitcoin's first pullback and potential low sweep in the current rally. A rebound between $119,500 and $120,900 would be ideal to maintain aggressive momentum. The overall takeaway: this pullback is a healthy reset rather than a bearish signal, potentially priming Bitcoin for its next leg higher.
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