Bitcoin, Ethereum, XRP, Dogecoin Rally And 'Could Be In For A Very Fun Weekend' If One Key Level Flips

Cryptocurrency markets are trading higher on Friday, amid Florida passing a Bitcoin reserve bill.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$83,687.73	+5.5%
Ethereum ETH/USD	$1,565.31	+3.3%
Solana SOL/USD	$120.10	+8.4%
XRP XRP/USD	$2.03	+4.3%
Dogecoin DOGE/USD	$0.1599	+4.6%
Shiba Inu SHIB/USD	$0.00001220	+5.7%

Notable Statistics:

• IntoTheBlock data shows large transaction volume decreasing by 12.3% and daily active addresses grow ingby 5.6%. Transactions greater than $100,000 are down from 11,411 to 10,6343 in a single day. Exchanges netflows are down by 467.5%.
• Coinglass data reports 98,702 traders were liquidated in the past 24 hours for $242.45 million.

Notable Developments:

• Ripple, SEC Move To End Legal Dispute As Both Sides Withdraw Appeals
• Solana Jumps As Janover Adds $5M To Treasury Strategy, Doubling Down On Crypto Pivot
• Why Is Bitcoin Up Today? BTC Climbs Past $83K As Florida Passes Historic Bitcoin Reserve Bill
• Block Fined $40 Million By New York Regulator Over Cash App Compliance Failures

Top Gainers:

Cryptocurrency	Price	Gains +/-
Onyxcoin XCN/USD	$0.02533	+53.4%
Fartcoin FARTCOIN/USD	$0.9031	+29.7%
AB AB/USD	$0.01340	+24.2%

Trader Notes: Crypto traders are watching Bitcoin's price action closely as it attempts to break free from a persistent downtrend—and many believe this time could be different.

Jelle highlighted that Bitcoin is trying to break out of a downtrend it’s failed to escape seven times before. The big question: will bulls finally push through the $84,000 resistance?

Ali Martinez raised caution, asking whether Bitcoin’s recent bounce was the completion of a W pattern, and if so, is an M pattern, a bearish reversal on deck?

If the first #Bitcoin $BTC move up was a "W," are we about to see an "M"? pic.twitter.com/59QCxjev28

— Ali (@ali_charts) April 11, 2025

Mayne noted that Bitcoin is testing a key 12-hour order block (H12 OB). A flip of this resistance into support could generate serious upside momentum, making for what he calls "a very fun weekend."

Rekt Capital emphasized that a true breakout isn't confirmed yet—Bitcoin needs a daily close above the downtrend and a successful retest to validate the move.

Meanwhile, Titan of Crypto spotted a potential Inverse Head & Shoulders pattern playing out. If confirmed, the long-term measured move projects a target near $125,000 by 2025.

#Bitcoin Inverse Head & Shoulders Pattern 🧠📈

Still looks like a clean retest for now.

If the pattern plays out, #BTC could reach $125,000 in 2025.

Let's see. pic.twitter.com/HvR0cdZYmM

— Titan of Crypto (@Washigorira) April 11, 2025

Read Next: 

• Bitcoin, Stablecoins Will Gain From Trade War, Experts Say: ‘The Map Is Being Redrawn’

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