Zinger Key Points
- Global cryptocurrency market capitalization is trading 1.8% higher to $3.2 trillion.
- One trader marks key spot to reclaim for some serious mean revision, another sees this as a setup for $105,000.
- Get two weeks of free access to pro-level trading tools, including news alerts, scanners, and real-time market insights.
Cryptocurrency markets remain bullish on Thursday, fueled by optimism over potential altcoin ETFs.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $98,414.37 | +2.6% |
| Ethereum ETH/USD | $2,753.73 | +1.7% |
| Solana SOL/USD | $174.54 | +3.5% |
| XRP XRP/USD | $2.71 | +1.9% |
| Dogecoin DOGE/USD | $0.2543 | +1.1% |
| Shiba Inu SHIB/USD | $0.00001555 | +1.7% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 8.6% and daily active addresses falling by 11.6%. Transactions greater than $100,000 are down from 10,134 to 9,587 in a single day. Exchanges netflows are up by 583.7%.
- Coinglass data reports 94,182 traders were liquidated in the past 24 hours for $166.31 million.
- Crypto chart analyst Ali Martinez stated that $13.5 billion left the cryptocurrency market in the past week, reflecting a decline in capital inflows.
Notable Developments:
- SEC Scales Back Crypto Enforcement, Expands Focus To Cyber Fraud
- Bitcoin, Ethereum Face Downside Risk As Institutional Demand Fades, JPMorgan Says
- Vitalik Buterin Criticizes Blockchain ‘Casinos,’ Suggests Ethereum Won’t Follow Solana’s Approach To Meme Coins
- Studying Bitcoin Will Strengthen Us, Czech Central Bank Governor Says
- Nigeria Hits Binance With $81 Billion Lawsuit Alleging Economic Damages And Unpaid Taxes
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Story IP/USD | $3.83 | +43.2% |
| Pyth Network PYTH/USD | $0.2572 | +26.2% |
| Berachain BERA/USD | $8.13 | +24.9% |
Trader Notes: With Bitcoin heading towards $100,000, crypto trader Kevin noted that it's tough to be bearish on the BTC chart.
Crypto trader Mayne highlighted key levels: Bitcoin above $99,500 and Ethereum above $2,850 as crucial for a potential mean reversion move.
Meanwhile, trader CJ is watching for a reaction at $98,826 and looking to buy dips around $96,000–$96,500, expecting a setup toward $105,000.
Network Economist Timothy Peterson emphasized Bitcoin cycle timing: in a bull market period of 9 months, traders can expect to double money, with an average annualized return of 152%. In a bear market of 34 months, returns slow significantly with an average annualized return of 28%, making the doubling time much longer.
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