Zinger Key Points
- Global cryptocurrency market capitalization is trading 4.7% higher to $3.3 trillion.
- Traders are bullish about Bitcoin resuming its uptrend.
- Get New Picks of the Market's Top Stocks
Cryptocurrency markets are trading higher on Wednesday, with Bitcoin surging back above the $96,000 mark.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $96,719.50 | +5.3% |
| Ethereum ETH/USD | $3,599.43 | +8.8% |
| Solana SOL/USD | $239.41 | +4.5% |
| Dogecoin DOGE/USD | $0.4042 | +6.6% |
| Shiba Inu SHIB/USD | $0.00002545 | +5.7% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 7.4% and daily active addresses falling by 15%. Transactions greater than $100,000 are down from 13,037 to 12,877 in a single day. Exchanges netflows are up by 43.1%.
- Coinglass data reports 88,921 traders were liquidated in the past 24 hours for $243.79 million. Crypto long liquidations at $66.6 million are at the lowest since Nov. 5.
Notable Developments:
- Ripple To Invest In Rebranded XRP Exchange-Traded Product By Bitwise
- ‘Crypto Dad’ Chris Giancarlo Advocates For Passing Crypto Regulation From The SEC To Another Commission — Here’s Why
- Long-Term Bitcoin Holders Locking In $2.02 Billion In Daily Realized Profits, Setting A New Record
- Donald Trump Eyes Former SEC Comissioner Paul Atkins As Gary Gensler’s Successor
- MicroStrategy-Linked ETFs Skyrocket 400% This Year: Is This ‘The Michael Saylor Effect’?
- Trump Administration To Reportedly Let CFTC Regulate Bitcoin, Ethereum Spot Market, Is The SEC Set To Lose Its Grip Over Crypto?
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Uniswap UNI/USD | $13.24 | +24.2% |
| Ethena ENA/USD | $0.7053 | +18.9% |
| Aave AAVE/USD | $201.37 | +17.2% |
Trader Notes: With Bitcoin prices picking up steam, CryptoQuant’s Head of Research sees a demand expansion driving Bitcoin higher.
More Crypto Online sees the price of Bitcoin having reached the first target of a bullish pattern at $96,046.
Crypto trader Astronomer Zero sees a familiar pattern playing out, saying, "Buy the fear, sell the greed, rinse and repeat."
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