Bitcoin Dumps Below $95,000, Ethereum, XRP, Dogecoin Meander In Lackluster Friday Trading Session

Zinger Key Points
  • Global cryptocurrency market capitalization is trading 1.7% down to $3.3 trillion.
  • One trader warns if BTC drops below $92,730 it is free fall territory.

Cryptocurrency markets are trading down on Friday, with Bitcoin falling below the $95,000 mark.

CryptocurrencyPrice   Gains +/-
Bitcoin BTC/USD $94,485.63-1.2%
Ethereum ETH/USD $3,358.23+0.7%
Solana SOL/USD $186.67-1.3%
XRP XRP/USD $2.17+0.5%
Dogecoin DOGE/USD $0.3144+0.1%
Shiba Inu SHIB/USD $0.00002185+0.8%

Notable Statistics:

  • IntoTheBlock data shows large transaction volume increasing by 31.6% and daily active addresses falling by 0.04%. Transactions greater than $100,000 are up from 7,853 to 8,785 in a single day. Exchanges netflows are down by 451.9%.
  • Coinglass data reports 96,455 traders were liquidated in the past 24 hours for $243.64 million.

Notable Developments:

Top Gainers:

CryptocurrencyPrice   Gains +/-
Virtuals Protocol VIRTUAL/USD $3.53+19.8%
Bitget Token BGB/USD $8.12+11%
Lido DAO LDO/USD $1.96+9.6%

Trader Notes: As Bitcoin slipped below the $95,000 mark, crypto chart analyst Ali Martinez warns that a dip below $92,730 could lead to “essentially free-fall territory.”

Meanwhile, Cold Blooded Shiller highlights that Bitcoin is nearing a critical juncture, risking the loss of its green wave momentum since breaking out of the $60,000 consolidation phase.

Daan Crypto Trades describes Bitcoin as being in a choppy, range-bound state, noting little significant price movement over the past week.

He highlights the range high at $99,500 and the range low at $92,000 as key levels to watch, suggesting that trading within this range may not be worthwhile.

Chart analyst Jesse Olson observed that Bitcoin failed to deliver the anticipated Santa rally but did manage a Santa bounce, forming a lower high.

He cautions that a daily candle close below approximately $94,850 would confirm a bearish shift, urging traders to monitor today's close for further direction

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Image: Shutterstock

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