Bitcoin, Ethereum, XRP, Dogecoin Trade Sideways: Is BTC Bull Market Entering Its Final Leg?

The cryptocurrency market is trading relatively flat on Wednesday, with Bitcoin reclaiming the $104,000 level. Sentiment remains cautious amid rising geopolitical tensions.

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 16.4%, and daily active addresses growing by 1.6%. Transactions greater than $100,000 are down from 11,517 to 11,167 in a single day, and exchange net flows are down by 105.3%.
• CoinGlass data reports that 95,040 traders were liquidated in the past 24 hours, with the total liquidations at $232.55 million.

Notable Developments:

• Own. App Launches Beta, Introduces Blockchain-Backed Monetization Tools For Creators
• Ethereum L2 Chosen For JPMorgan’s New Step In Public Blockchain Space
• Blockchain Group Acquires 182 Bitcoin, Boosting Holdings To $170 Million
• Tokenizing Gold, US Equities? No — Illiquid Is Key, Expert Says
• US Seizes $225 Million In Cryptocurrency Tied To Global Investment Fraud Network
• Coinbase Eyes SEC Nod For Blockchain-Based Stocks— Legal Head Paul Grewal Says It’s A ‘Huge Priority’

Top Losers:

Trader Notes: As Bitcoin hovers around $104,000, traders remain sharply divided over its next move. While some warn of exhaustion, others see clear signs of 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

Jackis believes the broader market is misreading the current cycle. He argues that Bitcoin is on the verge of a bullish breakout from a pennant pattern and preparing to enter price discovery mode, dismissing recent dips as mere fake-outs. According to him, Crypto Twitter is once again prematurely calling a cycle top, just like last year.

Titan of Crypto (aka Washigorira) echoes a more tempered but optimistic outlook, stating that Bitcoin is in the final stage of its bull market, which typically follows a three-year expansion post bear market. While nearing the end, he emphasizes: "It's not over yet."

Michael van de Poppe points to a strong bounce driven by potential geopolitical de-escalation and falling oil and gold prices. He says daily candles are improving across crypto, but BTC must break above $106,000 to confirm renewed strength.

However, Roman offers a bearish counterpoint. He notes the past five weeks have produced some of the weakest price action in recent memory, marked by volatility and indecision. On higher timeframes, signs of market exhaustion are emerging, raising the risk that a bear market could be taking hold.

Read Next: 

• Fred Krueger Says Bitcoin Treasury Firms Must Buy Like Sharks — 10,000 BTC Monthly To Stay Afloat

Photo: Shutterstock