Bitcoin, Ethereum, XRP Dip Ahead Of Crypto Summit, Dogecoin Shows Strength

The cryptocurrency market is trading lower on Friday in anticipation of the much-awaited White House crypto summit.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$87,839.15	-0.7%
Ethereum ETH/USD	$2,177.24	-0.9%
Solana SOL/USD	$146.27	+1.8%
XRP XRP/USD	$2.48	-4%
Dogecoin DOGE/USD	$0.2052	+2.7%
Shiba Inu SHIB/USD	$0.00001351	+1.8%

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 19.5% and daily active addresses growing by 10.9%. Transactions greater than $100,000 are up from 10,490 to 11,093 in a single day. Exchanges netflows are down by 154%.
• Coinglass data reports 157,406 traders were liquidated in the past 24 hours for $577.04 million.
• Arkham intelligence data shows Nucleus Marketplace, a darknet market, transferring $77.5 million worth BTC to three new wallets.

Notable Developments:

• Coinbase Is the ‘Blue Chip’ Of Crypto, Analyst Likes It On Pullback
• Donald Trump’s ‘Crypto Summit’ Is A ‘Critical Moment,’ Experts Say
• US To Conduct Full Audit Of Bitcoin Holdings Following Strategic Reserve Executive Order
• Coinbase CEO Brian Armstrong Lauds Donald Trump For ‘Incredible Execution’ In Establishing Strategic Bitcoin Reserve
• Michael Saylor Highlights Another Nation With A Bitcoin Reserve—And It’s Not Who You’d Expect

Top Gainers:

Cryptocurrency	Price	Gains +/-
Ethena ENA/USD	$0.4384	+14.9%
Movement MOVE/USD	$0.5135	+6.6%
Raydium RAY/USD	$2.19	+5.9%

Trader Notes: Crypto trader Michael van de Poppe notes that Bitcoin is testing resistance again. If it breaks through during the summit, it could trigger the next leg of the bull run.

Interesting, #Bitcoin attacks the resistance again.

Might be that we break through it, on the day of the Summit and kickstart the next leg of the bull. pic.twitter.com/vQMv1ANzTa

— Michaël van de Poppe (@CryptoMichNL) March 7, 2025

Stockmoney Lizards sees Bitcoin undergoing a real correction, having failed to reclaim ascending support for 12 days. The bull run is on pause, but the mid-term outlook remains bullish.

Crypto trader Jelle compares Bitcoin's price action to a ball held underwater, suggesting an inevitable breakout. If today's key news event is navigated well, the next few weeks could turn very bullish.

CryptoCon highlights that cycle top calls are rising, yet altseason hasn't begun. The cycle is still on track, resembling 2015-2017.

Read Next: 

• Strategic Bitcoin Reserve Cements ‘Digital Gold’ Narrative, Advocates Point Out

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