Bitcoin remains subdued on Thursday morning as a stronger U.S. dollar against the Japanese Yen weighs on the cryptocurrency markets. Despite the pullback, spot Bitcoin and Ethereum ETFs recorded notable inflows of $440.7 million and $69 million, respectively.
Highlighting market volatility, 155,911 traders faced liquidations totaling $533.69 million in the past 24 hours.
Altcoins Gain Strength Against Bitcoin
Crypto trader Michael van de Poppe highlighted that the altcoin market capitalization is showing a strong uptrend against Bitcoin.
Crypto Chase shared that he continues to hold a half-risk long position in Bitcoin from around $121,000.
While a final dip into demand is acceptable, he prefers a move higher in the current session.
A clean break below demand would prompt a re-evaluation, likely signaling more consolidation rather than a push toward a new all-time high.
For Ethereum, Ted Pillows noted the coin is testing a key support level; holding this support could trigger a rebound, while a breakdown may push it toward $4,250. Mikybull Crypto sees bullish patterns forming for XRP, suggesting a potential explosive breakout.
IncomeSharks observed that Solana remains bullish, with the On-Balance Volume (OBV) trending higher. A strong OBV spike would confirm upward momentum, while the red line serves as clear support for invalidation.
According to CoinGecko, the meme coin market capitalization fell 1.4% to $79.14 billion over the past 24 hours.
Daan Crypto Trades noted that Dogecoin appears poised for a potential breakout after steadily grinding higher since June. He highlighted that the price is tightening, and as long as it holds above the daily 200MA/EMA, the bullish structure remains intact.
Maintaining higher highs and lows will be crucial. While upcoming ETF approvals could ignite momentum, significant inflows are not expected.
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