Zinger Key Points
- Global cryptocurrency market capitalization is trading 0.95% higher ato$3.19 trillion.
- One trader predicts $100,000 soon.
- Get real-time earnings alerts before the market moves and access expert analysis that uncovers hidden opportunities in the post-earnings chaos.
Crypto markets are stabilizing and trending upward after an initial drop following the higher-than-expected COnsumer Price Inflation report.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $97,166.74 | +2.2% |
| Ethereum ETH/USD | $2,679.72 | +3.4% |
| Solana SOL/USD | $193.42 | -1% |
| XRP XRP/USD | $2.44 | +2.7% |
| Dogecoin DOGE/USD | $0.2612 | +4.6% |
| Shiba Inu SHIB/USD | $0.00001680 | +8.4% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increased by 3.2% and daily active addresses grew by 2.6%. Transactions greater than $100,000 are up from 9,866 to 10,487 in a single day. Exchanges netflows are down by 192.3%.
- Coinglass data reports 142,147 traders were liquidated in the past 24 hours for $310.39 million.
- IntoTheBlock data points out that the 1.6 million addresses that historically acquired 1.57 million BTC at an average price of 97,200 are now forming a resistance level. It also added that "these holders may sell near their breakeven amid market uncertainty, adding selling pressure and complicating any clear upward breakout."
Notable Developments:
- Coinbase Expected To Post Strong Earnings As Trading Volume Hits Multi-Year High
- Goldman Sachs Increases Bitcoin ETF Stake Over $1.5 Billion In Q4, Reports A Massive 1793% Jump In Ethereum ETF Holdings
- Trump To Nominate Ex-CFTC Commissioner Brian Quintenz As Agency Head
- El Salvador Proved ‘Bitcoin Is Not Destined To Be Money,’ Analyst Says
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| PancakeSwap CAKE/USD | $2.63 | +37.2% |
| Sonic (CRYPTO: S) | $0.5459 | +23.7% |
| Onyxcoin XCN/USD | $0.02332 | +11.3% |
Trader Notes: With Bitcoin prices resuming uptrend, crypto trader DonAlt predicts its Bitcoin's time to break out.
Crypto Chase explained that he is still holding Bitcoin long position from $95,600 after having survived 8 days of chop and the CPI release.
He sees prices at local resistance, but traders are looking to take profits higher.
The trader moved his stop loss to around $94,000 as local liquidity was swept and demand held, making a return to the lows unlikely.
Crypto trader Jelle sees Bitcoin is retesting mini range and a bounce will take it back to 100,000 while Scient highlighted on Bitcoin is showing strength on a bearish news, which is a net positive outlook in the near term.
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