Zinger Key Points
- Global cryptocurrency market capitalization is trading 2% higher to $3.2 trillion.
- Traders are split—some eye a bull pennant breakout, while others expect choppy or corrective action.
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Crypto markets are grinding lower on Friday, with Bitcoin reversing gains on renewed tariff fears after briefly having touched $100,000.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $96,769.28 | -0.8% |
| Ethereum ETH/USD | $2,650.07 | -1.7% |
| Solana SOL/USD | $195.91 | -2.4% |
| XRP XRP/USD | $2.43 | -5.5% |
| Dogecoin DOGE/USD | $0.2502 | -2.4% |
| Shiba Inu SHIB/USD | $0.0000153 | -2.5% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 12.2% and daily active addresses falling by 0.3%. Transactions greater than $100,000 are relatively flat. Exchanges netflows are down by 103%.
- Coinglass data reports 93,111 traders were liquidated in the past 24 hours for $231.19 million.
- Glassnode data shows since mid-December retail investors (≤1 BTC) have been accumulating Bitcoin at an accelerated rate, averaging 10,627 BTC per day—72% higher than the past year’s daily average of 6,177 BTC.
Notable Developments:
- Franklin Templeton Seeks SEC Approval For New Crypto Index ETF Focused On Bitcoin And Ether
- CleanSpark Shares Are On The Rise Today: What’s Going On?
- BlackRock Expands Investment In Bitcoin-Heavy Strategy, Reaching 5% Ownership
- Trump Media To Launch Bitcoin ETF: Could Political Themes Undermine Long-Term Stability?
- Spot XRP ETF Filings Hit The Deck: ‘Hard To Be Bearish Here,’ Trader Says
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Flare FLR/USD | $0.02294 | +19.2% |
| IOTA IOTA/USD | $0.2236 | +6.4% |
| XDC Network XDC/USD | $0.0925 | +5.2% |
Trader Notes: Glassnode data reveals a significant drop in the seven-day average funding rate to 0.004%, down 85% from December’s 0.026% peak.
This suggests declining demand for leveraged longs and a waning speculative appetite, hinting at potentially choppy or corrective price action unless leverage returns.
Crypto trader Follis urged caution as traders face increased market volatility.
George, another trader, noted that while many anticipated an easy altcoin bull market, only Bitcoin has truly performed.
He advises shifting the mindset from "only longs" to actively trading ranges and embracing both upward and downward moves.
Despite challenges, George emphasized that crypto remains "one of the spaces where you can get rich the fastest" and recommends learning to trade both ways instead of lamenting over stagnant altcoins.
Trader Nebraskangooner identified a possible bull pennant forming on Bitcoin's weekly chart, marked by strong impulse and consolidation.
A breakout would validate the pattern, targeting a potential rise to $118,000, while also offering clear downside invalidations.
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