Bitcoin Reclaims $117,000 As Ethereum, XRP, Dogecoin Rise

Cryptocurrency markets are trading higher on Thursday, with Bitcoin reclaiming the $117,000 level. The rally comes as optimism builds around President Donald Trump's proposal to include crypto assets in 401(k) retirement plans, boosting broader investor sentiment.

Notable Statistics:

• IntoTheBlock data shows that Bitcoin and Ethereum large transactions increased by 3.6% and dropped by 6.5%, respectively, in a single day. Daily active addresses increased by 7.8% and decreased by 3.4%, respectively.
• Coinglass data shows 96,836 traders were liquidated in the past 24 hours for $285.70 million.
• The top gainers in the past 24 hours include Mantle MNT/USD, Pendle PENDLE/USD and Conflux CFX/USD.

Notable Developments:

• Transak Adds Support for USDe, Synthetic Dollar Now Available Via Fiat On-Ramp
• Anthony Scaramucci Thinks This ‘Ethereum Killer’ Network’s Moment Is Coming — Here Is Why
• ProShares Introduces Leveraged ETF Targeting Circle’s 2x Daily Stock Returns
• Vlad Tenev Says Robinhood Revenue Could Become ‘Rather Large’ Amid Tokenization Push As HOOD Stock Surges 13% Over A Month
• US Tariffs On Asian Mining Rigs Slow Bitcoin Growth As Firms Eye Canada, Domestic Production

Trader Notes: Crypto trader CJ noted Bitcoin is at a key level, currently trading above equal highs. If there’s another upward spike followed by rejection, it could be a deviation, potentially leading the price back down to the range or the previous week's low. However, if price breaks cleanly higher, the $114,000–$115,500 zone may act as new support before further upside.

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MaxBecauseBTC observed Bitcoin as constructive, but there are some warnings –

• Caution: The price is retesting the underside of the 30-day rVWAP and a major supply zone (high-volume node).
• Bullish signs: A drop below $114,000 triggered liquidations and long exits, followed by a quick reclaim of the monthly open, showing resilience.
• Key level: A move above $118,000 (supply node) could open the door to new highs rapidly.

Crypto Bully highlighted that Bitcoin is in a wait-and-watch phase, forming a new range. There is strong resistance at around $116,500, which could result in a bearish retest. Dips toward $111,000–$112,000 may offer good long entries if order flow supports it. He also added that he is currently considering only long setups on BTC; potential altcoin shorts may be explored if Bitcoin shows weakness later.

Glassnode data shows that the spent volume by Bitcoin's short-term holders in profit has dropped to 45%, below the neutral threshold. This indicates a balanced market, modest profit-taking, but no strong directional conviction from short-term investors. The market sentiment remains cautious and indecisive.

Read Next: 

• Trump Wants To Put Bitcoin In Your 401(k), Will It Work?

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