Bitcoin, Ethereum, XRP, Dogecoin Hold Gains As Crypto ETF Inflows Continue

Crypto markets are holding steady, boosted by growing optimism over a potential Federal Reserve rate cut, Arizona's new Bitcoin reserve law, and continued institutional accumulation.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction volume increasing by 9% and 12%, respectively. Daily active addresses are up by 12% and 19.6%, respectively.
• Coinglass data shows 76,197 traders were liquidated in the past 24 hours for $169.71 million.
• SoSoValue data shows net inflows of $588.6 million into spot Bitcoin ETFs on Tuesday, while spot Ethereum ETFs saw net inflows of $71.2 million.

Trader Notes: Crypto trader Jelle highlighted Bitcoin's quick recovery after briefly dipping below recent lows. The reclaim of a key resistance level suggests strength, with liquidity clusters just overhead, potentially setting up for a rapid upside move..

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

On the other hand, Rekt Capital noted Bitcoin is now positioned to break out of its multi-week downtrend. But to confirm a reversal, Bitcoin must close the week solidly above a key diagonal trendline, not just wick above it.

Ted Pillows pointed out that Ethereum is currently holding the range low but must reclaim $2,525 to resume upward momentum toward the range highs.

Ameba observed that Solana's reclaim of the MH level could lead to a short-term surge toward the monthly open. A breakout above that would likely bring strong bullish momentum.

Trader Tardigrade emphasized that Dogecoin continues to respect a long-term weekly support trendline that’s held for over 18 months, suggesting the meme coin remains technically sound.

Read Next:

• Anthony Pompliano’s ProCap Buys Over 3,700 Bitcoin—What’s Driving The Aggressive Bet?

Image: Shutterstock