Bitcoin, Ethereum, Dogecoin Surge: Has The 'Final Cycle Pump' Really Started?

Cryptocurrency markets are trading 5.9% higher to $2.19 trillion as crypto short liquidations spiked to the highest level since Aug. 23.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$63,485.74	+5.3%
Ethereum ETH/USD	$2,467.60	+6.6%
Solana SOL/USD	$143.74	+10.8%
Dogecoin DOGE/USD	$0.1062	+5%
Shiba Inu SHIB/USD	$0.0000142	+6.3%

Notable Statistics:

• IntoTheBlock data shows a 1% drop in large transaction volume and a 5.7% decline in daily active addresses. However, exchanges netflows narrowed by 278.4%. With Bitcoin prices racing beyond the $61,000 mark, 88% of Bitcoin holders are in profit, while 12% are at breakeven.
• Coinglass data shows 61,634 traders liquidated in the past 24 hours for $190.39 million, with short liquidations coming in at $117.6 million, the highest level since Aug. 23.

Notable Developments:

• Cybercriminals Busted For $243M Crypto Heist: They Spent Hundreds Of Thousands In Night Clubs And On Luxury Gifts
• What’s Going On With Coinbase Stock?
• Jade City To Democratize Access To $50B Jade Market With Tokenization Platform

Top Gainers:

Cryptocurrency	Price	Gains +/-
Popcat (SOL) POPCAT/USD	$0.8976	+28.2%
Sei SEI/USD	$0.3344	+19.9%
Dogwifhat WIF/USD	$1.77	+18.5%

Trader Notes: With Bitcoin prices chasing the $63,000 mark, Cold Blooded Shiller predicts that if this move breaks to the upside, “expect this area to be a sweep with a fast response back.” He suggests keeping note of the $61,500 level.

If we get the LTF $BTC correction I think the reaction around $61.5k will be important.

If this move is going to break HTF structure to the upside I'd expect this area to be a sweep with a fast response back. (The good ol' V-reversal days) pic.twitter.com/0nowzEJ8dL

— Cold Blooded Shiller (@ColdBloodShill) September 19, 2024

Stockmoney Lizards marks this price movement as the beginning of the “final cycle pump” and expects the cycle top around September to October 2025 between $200,000 and $260,000.

#Bitcoin: The Final Cycle Pump Begins

We are entering what could be the final pump of this Bitcoin cycle. The cycle top is expected around September to October 2025. My personal price target for Bitcoin is between $200,000 and $260,000.

Legend:
Here, you can see the last three… pic.twitter.com/f7BTzM8YyM

— Stockmoney Lizards (@StockmoneyL) September 19, 2024

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next:

• Trump Pays Up For Smash Burgers And Diet Cokes With Bitcoin During New York Campaign Halt — Move Hailed As ‘One Of The Most Historic Transactions’

Image: Shutterstock