Bitcoin, Ethereum, Dogecoin Drop As Geopolitical Tensions Escalate

The cryptocurrency market pulled back Tuesday morning, driven by heightened geopolitical concerns following Trump's evacuation warning regarding the Iran-Israel conflict.

Notable Statistics:

• IntoTheBlock data shows that Bitcoin and Ethereum’s large transaction volumes increased 116.4% and 189.5%, respectively. Also, BTC’s daily active addresses witnessed a growth of 18.1%. Ethereum exchanges’ net flows widened by 4,988.5% in a single day.
• Coinglass data shows 104,900 traders were liquidated in the past 24 hours with the total liquidations at $354.58 million.
• SoSoValue data shows net inflows of $412.2 million into spot Bitcoin ETFs while Spot Ethereum ETFs saw net inflows of $21.4 million.

Trader Notes: Crypto trader Jelle noted that the past two Bitcoin cycles lasted 1,064 days from bottom to top. If that pattern continues, we're now entering the final 18-week stretch, potentially marking the most profitable phase. The best gains may still lie ahead.

Jelle also pointed out that Bitcoin has confirmed a monthly breakout and retest, a classic signal of trend continuation.

Get Started

Trade Bitcoin, Ethereum, and More Instantly — No Wallets, No Hassle

Speculate on price movements, claim up to $200 in bonuses, and start with risk-free paper trading with crypto futures on Plus500.

Get Started

Disclosure: 82% of retail CFD accounts lose money

For Ethereum, Galaxy highlighted Ethereum's current monthly setup, which mirrors patterns seen at the start of past bull runs. Another trader, Hardy, reaffirmed his long-entry zone around $2,180, citing strong macro support and technical confluence.

Brett sees XRP forming a bullish pennant on the weekly chart after a 486% surge, a textbook continuation pattern. A breakout above $2.40 could potentially lead to another 500% upside.

Trader Tardigrade noted that Dogecoin has formed a falling wedge pattern on the 4-hour chart, a bullish reversal structure. As the price nears the wedge apex, bearish pressure appears to be fading.

Read Next:

• Max Keiser Once Predicted Bitcoin Could Hit A $300 Trillion Market Cap — Here’s How Much 1 BTC Would Be Worth If That Happens
  

Photo: alfernec on Shutterstock.com