Zinger Key Points
- Global cryptocurrency market capitalization is trading 2.2% higher at $3.16 trillion.
- One trader marked $92,000 as key downside level until $97,000 to $98,500 is reached.
- Get real-time earnings alerts before the market moves and access expert analysis that uncovers hidden opportunities in the post-earnings chaos.
Crypto markets are trending higher on Wednesday, driven by optimism around potential altcoin spot ETFs.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $96,045.95 | +2.4% |
| Ethereum ETH/USD | $2,711.43 | +3.5% |
| Solana SOL/USD | $168.94 | +3.1% |
| XRP XRP/USD | $2.66 | +7% |
| Dogecoin DOGE/USD | $0.2518 | +2.4% |
| Shiba Inu SHIB/USD | $0.00001531 | +2% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 9.2% and daily active addresses up by 4%. Transactions greater than $100,000 are up from 9,049 to 10,134 in a single day. Exchanges netflows are down by 121.8%.
- Coinglass data reports 67,718 traders were liquidated in the past 24 hours for $148.48 million.
Notable Developments:
- Binance.US Restores USD Services After Lengthy Regulatory Roadblock
- Stablecoins Are A Big Deal, But Not Where You’d Expect, Bernstein Says
- Changpeng ‘CZ’ Zhao Donates $100,000 To Support LIBRA Scam Victims As Javier Milei Compares Investment In Coin To Casino Gambling
- Vivek Ramaswamy Foresees Bitcoin As A ‘More Common’ Corporate Treasury Holding As Era Of Easy Money Ends
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Story IP/USD | $2.69 | +40% |
| Sonic (prev. FTM) (CRYPTO: S) | $0.7225 | +25.3% |
| Aptos APT/USD | $6.44 | +17.3% |
Trader Notes: With Bitcoin prices bouncing back from past week’s muted performance, crypto trader Decode remains bullish as long as Bitcoin closes above $92,000, emphasizing that nothing has been invalidated despite recent volatility.
Meanwhile, Glassnode and Swissblock co-founder Negentropic noted Bitcoin's bounce from $93,500 to $95,000, but weak rebounds signal low spot volume.
The Risk Index warns of further downside pressure, with key levels at $97,000-$98,500 for recovery and $92,000 as critical support.
Crypto chart analyst Ali Martinez highlighted that Bitcoin's best buying opportunities since 2022 have occurred when traders’ realized loss margin hits -12%, compared to the current -2.37%.
Industry expert Quinten Francois pointed out that despite Bitcoin experiencing its biggest long wipeout in two years, buyers are holding firm. He predicts the "next big move is coming."
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