Bitcoin, Ethereum, XRP, Dogecoin See 'Sunday Pump, Monday Dump'—A Higher Low In The Making?

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Zinger Key Points

Crypto markets are pulling back after a strong Sunday as digital asset investment products saw their third consecutive week of outflows, with Bitcoin taking the biggest hit—$2.6 billion in outflows.

CryptocurrencyPrice   Gains +/-
Bitcoin BTC/USD $85,736.90-8.8%
Ethereum ETH/USD $2,119.28-15.5%
Solana SOL/USD $144.10 -17%
XRP XRP/USD $2.40-16.3%
Dogecoin DOGE/USD $0.1994-14.8%
Shiba Inu SHIB/USD $0.00001290  -14%

Notable Statistics:

  • IntoTheBlock data shows large transaction volume increasing by 25% and daily active addresses falling by 16.8%. Transactions greater than $100,000 are up from 9,755 to 10,965 in a single day. Exchanges netflows are up by 4.1%.
  • Coinglass data reports 195,184 traders were liquidated in the past 24 hours for $672.38 million.

Notable Developments:

Top Losers:

CryptocurrencyPrice   Gains +/-
Raydium RAY/USD$2.20-22%
Ethena ENA/USD$0.3656-21.6%
Official Trump TRUMP/USD$12.95-20.8%

Trader Notes: Crypto trader Follis dubbed the recent price action "Sunday pump, Monday dump" as Bitcoin reversed its gains. Ali Martinez noted that the last two times Bitcoin formed a hammer candlestick on the weekly chart, it led to major price rallies.

CJ pointed out that Bitcoin rejecting at the yearly open isn't a great sign, with price re-entering last Wednesday's range. He predicts a move towards $83,000 and warns that for bulls, low $80Ks need to hold as a higher low.

Rekt Capital highlighted Bitcoin's downside deviation, filling the CME gap—potentially setting up a higher low relative to last week's low.

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Image: Shutterstock

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