Bitcoin, Ethereum, XRP, Dogecoin See 'Another Monday Open Pump,' Trader Predicts Next Move After 'Unemployment Data On Friday'

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Zinger Key Points
  • Global cryptocurrency market capitalization is trading 3% higher at $3.6 trillion despite key metrics remaining lower.
  • One trader predicts Bitcoin’s next move after unemployment data, another marks micro support at $100,450.

Cryptocurrency markets are trading higher on Monday after MicroStrategy and Metaplanet announced having acquired more BTC.

CryptocurrencyPrice   Gains +/-
Bitcoin BTC/USD $101,987.32+4%
Ethereum ETH/USD $3,689.41+1.4%
Solana SOL/USD $220.19+3.4%
XRP XRP/USD $2.43+1.8%
Dogecoin DOGE/USD $0.3895+1.9%
Shiba Inu SHIB/USD $0.00002427+2.3%

Notable Statistics:

  • IntoTheBlock data shows large transaction volume decreasing by 5.3% and daily active addresses remained flat at 1.25 trillion. Transactions greater than $100,000 are down from 7,269 to 7,116 in a single day. Exchanges netflows are up by 21.8%.
  • Coinglass data reports 74,635 traders were liquidated in the past 24 hours with the total liquidations at $220.17 million. Open interest spiked 17.8% to $66.2 billion in the past 24 hours.

Notable Developments:

Top Gainers:

CryptocurrencyPrice   Gains +/-
SPX6900 SPX/USD $1.58+16.2%
Worldcoin WLD/USD $2.66+12%
Pudgy Penguins PENGU/USD $0.04465+10.6%

Trader Notes: With Bitcoin surging past the $100,000mark, crypto trader Bluntz Capital remains cautiously optimistic but warns of a potential pullback.

He highlighted a strong New Year's Day rally followed by another Monday pump but expressed concerns about stalling momentum.

While holding a long position, Bluntz is not fully committed and has reserves ready to capitalize on dips if they occur.

Crypto trader Kevin observed that Bitcoin has returned to the macro golden pocket, calling it a critical "make or break" moment for the asset.

Meanwhile, Benjamin Cowen, CEO and Founder of Into the Cryptoverse, shared his outlook on Bitcoin's next move based on upcoming unemployment data.

He predicts that if the unemployment rate is 4.2% or lower, Bitcoin will continue its upward trajectory.

At 4.3%, he expects a month of sideways movement before a decisive move, and at 4.4% or higher, a correction is likely.

More Crypto Online highlights $100,450 as Bitcoin's critical micro support level, which could signal a trend reversal if broken. The trader recommends accumulating near significant swing lows as a strategic approach.

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Image: Shutterstock

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