Bitcoin prices remain largely flat amid sell-off sentiment following last week's fresh all-time highs, keeping cryptocurrency markets subdued early Friday.
Spot Bitcoin ETFs saw inflows of $197.7 million, while spot Ethereum ETFs experienced an outflow of $8.5 million on Thursday.
In the past 24 hours, around 138,614 traders were liquidated for a total of $427.45 million. Bitcoin's open interest has dropped to $90.2 million but still remains near peak levels.
Will Altcoins Repeat The 2017/2021 Rally?
El Crypto Prof aka Moustache highlighted that altcoins are approaching a crucial decision point. Despite widespread pessimism, historical patterns from 2017 and 2021 indicate the potential for another major rally.
Crypto chart analyst Ali Martinez warned that in a worst-case scenario, Bitcoin could face rejection at $124,000, triggering a drop first to $96,000 and potentially further down to $70,000.
Ted Pillows noted that Bitcoin appears set to retest the $118,000–$120,000 support zone, where strong bids have emerged on Binance. A short-term dip toward this level seems likely, followed by a potential rebound if buyers step in.
Daan Crypto Trades observed that Ethereum remains range-bound. Sentiment tends to turn bearish near support and bullish near resistance. Despite high volatility, Ethereum has traded relatively sideways over the past two months.
EtherNasyonal pointed out that XRP is emerging from a prolonged re-accumulation phase, hinting at a potential major breakout.
After retesting and rejecting the key $3.32 resistance, its 2017 peak, this level now serves as a pivotal point that could ignite a parabolic rise.
Holding above $1.99 would confirm a bullish structural reversal, with momentum indicators suggesting an upward move.
XRP may be awakening after a long period of dormancy.
For Solana, Martinez emphasized that the $217 level is critical, as it will determine whether the price rebounds or breaks down.
Total meme coin market capitalization fell by 3.8% in the past 24 hours to $79.5 billion, with Solana and AI-themed meme coins seeing the largest drops of 4% and 5.1%, respectively.
Trader GalaxyBTC noted that Dogecoin looks strong on the weekly chart, with technicals pointing to a potential rally.
Shibburn data shows a massive 13,120.5% spike in SHIB burn over the past 24 hours, removing 9.8 million SHIB from circulation.
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