Bitcoin, Ethereum, Dogecoin Close Out Strong Week On A High: 'Play Offense,' Says Bullish Trader

Cryptocurrency markets are finishing the week on a high, with Bitcoin peaking past $66,000 in midday trading.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$65,934	+1.1%
Ethereum ETH/USD	$2,705	+1.9%
Solana SOL/USD	$158.59	+1.3%
Dogecoin DOGE/USD	$0.1246	+5.3%
Shiba Inu SHIB/USD	$0.00002052	+10.9%

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 3.7% and daily active addresses rising by 1.3% for Bitcoin.
• According to Coinglass data, 63,487 traders liquidated in the past 24 hours for $139.18 million, with $85 million being short liquidations.

Notable Developments:

• Bitcoin Pushes Above $65K But What Does Technical Analysis Say?
• Bitcoin Smashes Through $66,000 As ETFs Take In $365M To Extend Their Inflow Streak To 6 Straight Days
• Bitcoin Could Sail To $70K On The Tailwinds Of Stablecoin Minting, Chinese Stimulus, Renewed Altcoin Activity: 10x Research
• Viral Baby Hippo Moo Deng Steals Spotlight From Dogecoin, Shiba Inu: This Trader Made $392,000 With Over 1,000X Meme Coin Return

Top Gainers:

Cryptocurrency	Price	Gains +/-
Notcoin NOT/USD	$0.01048	+21.9%
Bonk BONK/USD	$0.00002302	+12.2%
Pepe PEPE/USD	$0.00001062	+12.1%

Trader Notes: Analyst Benjamin Cowen sees ETH moving up to its bull market support band, which would constitute a move to the $2,900s.

Altcoin Psycho feels emboldened by the recent uptrend, saying it is time to “play offense.” he has bought several undisclosed altcoins and will “check back” in 4 to 8 weeks.

Trader Tyrogue implies that retail investors will soon get interested in meme coins again due to the unit bias. He thinks they will wonder “what if this coin went to $1?” and buy accordingly.

Smileycapital thinks several fundamental factors are aligning for crypto to go higher:

– Seasonally & cyclically most bullish quarters + year ahead
– Risk beta has significant catch up room to major stocks
– USA entered easing cycle
– USA elections
– China stimulating economy
– Japan plans on doing the same^
– Gen Y & Gen-Z desperate to hypergamble their way out pic.twitter.com/2w089oRAAJ

— 🙂 (@smileycapital) September 27, 2024

Read Next:

• If You Invested $1000 In Bitcoin, Dogecoin, And Shiba Inu Exactly A Year Ago, This Crypto Would Give You The Best Returns Today

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