Cryptocurrency markets reversed a weak start to the week on news that Donald Trump reportedly plans signing sseveral crypto-related executive orders on his first day in office.
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 9.2% and daily active addresses up by 6.4%. Transactions greater than $100,000 are down from 7,112 to 6,648 in a single day. Exchanges netflows are down by 147.8%.
- Coinglass data reports 273,610 traders were liquidated in the past 24 hours for $764.74 million. Long liquidations of $587.9 million came in at a three-week high.
- Crypto chart analyst Ali Martinez noted Bitcoin network activity having fallen to its lowest level since November 2024, with just 667,100 active addresses.
- In another tweet, he sees number of large transactions on the Bitcoin network has decreased by 51.64% over the past month, dropping from 33,450 to 16,180.
Notable Developments:
- Tether To Relocate Headquarters To El Salvador
- Bitcoin’s 2024 Revolution: ETPs Double Crypto Market Cap, Big Winners Emerge
- Jamie Dimon Says He’s Not Against Blockchains But Trades Guns On Bitcoin Again—It Has No Intrinsic Value: ‘I Just Don’t Feel Great About…’
- Donald Trump Jr. Joins Kalshi Prediction Market As Strategic Advisor
- MicroStrategy Acquires 2,530 Bitcoin For $243M, Reaching 450,000 BTC In Total Holdings
Top Losers:
Trader Notes: With Bitcoin prices dropping, crypto trader Jelle suggested it could be a "Red Monday, green week."
In another tweet, he highlighted that Bitcoin's daily candle is shaping up well, noting that a close above $92,500 would increase the likelihood of marking a bottom.
Crypto trader Rekt Capital emphasized the importance of a daily close above ~$91,000 to sustain the $91,000-$101,000 range and preserve the early-stage higher low on the RSI.
Meanwhile, crypto trader Seth views $170,000 as a conservative Bitcoin top target within a broader $150,000-$300,000 range.
This aligns with historical bull cycles where Bitcoin often overshoots expectations, depending on liquidity influx.
Seth added that if $170,000 is treated as a baseline, there's potential for further upside driven by macro conditions, institutional adoption, or retail FOMO.
Key factors like halving effects and global liquidity will play a major role in determining how realistic this target is.
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