Zinger Key Points
- Global cryptocurrency market capitalization is up 3.5%, reaching $2.92 trillion.
- A trader warns that bulls may be running out of time, with potential downside to $78,260 if BTC faces rejection at $92,000.
- Get 5 stock picks identified before their biggest breakouts, identified by the same system that spotted Insmed, Sprouts, and Uber before their 20%+ gains.
Crypto markets are trending higher as investors anticipate Friday's crypto summit.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $89,787.93 | +2.3% |
| Ethereum ETH/USD | $2,212.47 | +3.3% |
| Solana SOL/USD | $145.22 | +2.5% |
| XRP XRP/USD | $2.50 | +0.9% |
| Dogecoin DOGE/USD | $0.2036 | +2.4% |
| Shiba Inu SHIB/USD | $0.00001324 | +1.4% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 26.3% and daily active addresses falling by 8.2%. Transactions greater than $100,000 are down from 13,388 to 11,748 in a single day. Exchanges netflows are down by 68.5%.
- Coinglass data reports 90,347 traders were liquidated in the past 24 hours for $311.57 million.
- Crypto chart analyst Ali Martinez reports that capital inflows into the crypto market have surged to $15 billion.
- Crypto analyst Miles Deutscher highlights that Bitcoin balances on exchanges have been declining over the past two weeks, suggesting traders bought the dip and moved their holdings to cold storage amid the price slump.
Notable Developments:
- A Benzinga Debate On Federal Reserve Assets: Our Contributors Speak On Gold, Bitcoin
- Trump, Tariffs, Stock Markets, Crypto Reserve: What Key Themes Are Driving Crypto Markets?
- Robinhood CEO Vlad Tenev Expects ‘Crypto Rails’ To Become The Foundation Of Stock Trading
- MSTR Stock Rises Nearly 4% in Wednesday Pre-Market Trading: What’s Going On?
- White House Crypto Summit To Feature Roundtable With Industry Leaders Including Michael Saylor
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Bitcoin Cash BCH/USD | $391.78 | +24.3% |
| Jito JTO/USD | $2.68 | +17.2% |
| Ondo ONDO/USD | $1.12 | +16.7% |
Trader Notes: As Bitcoin struggles to stay above the $90,000 mark, crypto trader Justin Bennett warns that bulls are on borrowed time, noting a rejection at the $92,000 monthly resistance could lead to a sweep of $78,260 lows.
Rekt Capital highlights Bitcoin's two consecutive weeks of downside deviations, but a weekly close above $93,500 would signal strength, reclaiming key support with a higher low forming.
Crypto trader MaxBecauseBTC draws parallels to Q1 in 2017, when BTC saw 2-3 months of sideways trading under Trump before a parabolic rally from April to December.
He notes that as the DXY declines, BTC could follow a similar bullish trajectory if history repeats itself.
Jelle sees Bitcoin attempting another push towards $90,000, stating that a successful reclaim of resistance would confirm a massive deviation of range lows.
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