Zinger Key Points
- The global cryptocurrency market capitalization is relatively flat, with a 0.5% decline to $3.17 trillion.
- One trader warns that without improvement, the price could drop to $92,000.
- Today's manic market swings are creating the perfect setup for Matt’s next volatility trade. Get his next trade alert for free, right here.
Cryptocurrency markets are trading lower on Thursday, continuing to trade in a tight range.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $95,842.60 | -1.3% |
| Ethereum ETH/USD | $2,648.21 | -1% |
| Solana SOL/USD | $193.46 | +0.07% |
| XRP XRP/USD | $2.46 | +0.8% |
| Dogecoin DOGE/USD | $0.2571 | -1.5% |
| Shiba Inu SHIB/USD | $0.00001617 | -3.4% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 4.9% and daily active addresses higher by 8.5%. Transactions greater than $100,000 are down from 10,487 to 9,846 in a single day. Exchanges netflows are down by 134.4%.
- Coinglass data reports 107,479 traders were liquidated in the past 24 hours for $202.63 million.
Notable Developments:
- OpenSea Launches OS2 Platform With Token Trading And $SEA Community Token
- Bitcoin Mining Equipment Seized At US Ports Nationwide: Report
- MatterFi Wallet Technology To Integrate With Trrue Blockchain Ecosystem
- Nasdaq-Listed Crypto Exchange Coincheck Reports Loss Of $98 Million In Q3, Shares Tumble 7%
- US Releases Russian Bitcoin Exchange Co-Founder Alexander Vinnik In Prisoner Deal With Moscow
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| TRUMP TRUMP/USD | $16.57 | +9.3% |
| Kaspa KAS/USD | $0.1048 | +8.5% |
| Jito JTO/USD | $3.04 | +6.7% |
Trader Notes: Ali Martinez believes Bitcoin's true direction won’t be clear until it breaks out of its current range.
The market is in a holding pattern, and price movements will reveal the next move once the breakout occurs.
Daan Crypto Trades pointed out that Bitcoin is in the red for February, marking only the third time in history if this trend continues through the month.
He also mentioned that March tends to be volatile, with both significant gains and steep declines, suggesting that large price swings are expected.
CryptoCon noted that the current Bitcoin cycle has been more methodical and healthier compared to past cycles, avoiding the extreme volatility seen in earlier runs.
He believes that a mix of fear and boredom could be beneficial for a sustained bull market. So far, there have only been two short periods of “Extreme Greed,” leaving ample room for further growth.
Axel Adel Jr highlighted that Bitcoin's 1-week realized volatility has dropped to 8.7%. If conditions don't improve, the next move could see a drop to $92,000.
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