Bitcoin, Ethereum, XRP, Dogecoin Tumble As Traders Brace For Volatility

Cryptocurrency markets are trading lower on Friday in tandem with sliding equity markets.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction decreased by 8.6% and increased 6.5%, respectively. Daily active addresses moved higher by 5.3% and decreased 0.1%, respectively.
• Coinglass data shows 189,265 traders were liquidated in the past 24 hours for $821.71 million.
• The top losers in the past 24 hours include Hyperliquid HYPE/USD, Pump.fun PUMP/USD and SPX6900 SPX/USD.

Notable Developments:

• Shiba Inu Celebrates Its 5th Birthday With Burn Rate Spiking To 5,800%
• Trump Demands Fed Board Remove Chair Jerome Powell, But Polymarket Traders Aren’t Buying It
• Coinbase Not In Competition With Visa, Mastercard In Crypto Payments Landscape, Says CEO Brian Armstrong: ‘We Actually Partner With Them In Many Ways’
• SEC’s Project Crypto ‘Looks Awesome,’ Says Tim Draper As He Pushes For A Bitcoin-Only World With Blockchain Powering Accounting And Payroll
• Bitcoin, Ethereum, XRP Struggle After Underwhelming Jobs Report: Will A September Rate Cut Save The Bull Run?
• The $100 Billion Bitcoin Bet: How Treasury Companies Are Fueling The Crypto Run

Trader Notes: Crypto trader Roman warns that the Bitcoin bull market is already well underway, having surged 700% from its $15,500 bottom.

He says new entrants are late to the party and risk becoming exit liquidity for early investors.

Roman advises taking profits, likening current conditions to the 2021 market cycle.

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IncomeSharks questions whether bears have the strength to push Bitcoin down to $112,000, but notes this is where strong bullish support lies.

He points out that recent market structure (“squiggles”) has given traders ample time to mentally prepare for such a move.

Gordon sees a bearish shift unfolding, stating that the Bitcoin crash is just beginning and the bullish phase may be over, with further downside likely.

Crypto trader Skew emphasizes Bitcoin's tight correlation with equity flows, calling $116,000 a critical trend level — acceptance above it could mark the beginning of a recovery, while rejection would suggest continued caution against chasing longs.

Read Next:

• Bitcoin Breaks Below $115,000 But Traders Say The Dip Is ‘No Big Deal’

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