Zinger Key Points
- The global cryptocurrency market cap has risen 5.4% to $3.4 trillion despite recent ETF outflows
- A trader suggests Bitcoin needs to shake out late long positions and reclaim $97,000 to solidify bullish momentum
- Get daily trade setups, exclusive stock picks, and real-time alerts today.
Cryptocurrency markets are seeing gains across the board despite ongoing ETF outflows, indicating underlying strength in the market.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $96,344.48 | +4.7% |
| Ethereum ETH/USD | $3,201.80 | +6.2% |
| Solana SOL/USD | $186.30 | +5.2% |
| XRP XRP/USD | $2.65 | +7.9% |
| Dogecoin DOGE/USD | $0.3527 | +8.6% |
| Shiba Inu SHIB/USD | $0.00002138 | +5.5% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 34.7% and daily active addresses up by 4.5%. Transactions greater than $100,000 are up from 6,648 to 10,421 in a single day. Exchanges netflows are down by 332.2%.
- Coinglass data reports 78,239 traders were liquidated in the past 24 hours with the total liquidations at $279.24 million.
Notable Developments:
- Trump Could Sign Crypto-Related Executive Orders On Day 1: Report
- Solana, XRP ETFs Could Outperform Ethereum ETFs, Says JPMorgan
- Gary Gensler Defends SEC Legacy: ‘We Focused On Reforms In The $60 Trillion Equity Markets’
- Coinbase Wins Partial Victory In SEC Regulatory Challenge, Court Calls Agency’s Stance ‘Arbitrary’
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Ai16z AI/USD | $1.28 | +27.4% |
| Kaspa KAS/USD | $0.1366 | +21.2% |
| Virtuals Protocol VIRTUAL/USD | $2.97 | +20.7% |
Trader Notes: With Bitcoin prices continuing its uptrend, crypto trader Jelle noted that it is moving as expected.
He believes things will look much better after $97,000.
Echoing similar sentiment, crypto trader Mayne termed this as a nice move after a run of the lows.
While awaiting CPI data, he recommends flipping the midrange level to maintain the upward push.
Crypto trader EliZ notes Bitcoin has reached a critical trigger point but highlights indecision in the market.
He advises adjusting stops to breakeven for active positions.
More Crypto Online explained that the recent upside move could indicate a potential bottom if the price holds above $94,244, with an ideal next high reaching at least $97,995.
The pattern resembles the lead-up to the January 6th top but appears weaker.
The rally began from a favorable location, increasing the chances of a low being established yesterday.
A confirmed upside reversal requires the price to form and hold a higher low in a subsequent wave 2.
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