Bitcoin, Ethereum, XRP, Dogecoin Face 'Monday Flush'

Cryptocurrency markets are trading lower on Monday as weakness in Bitcoin continues to drag down altcoins.

Notable Statistics:

• Coinglass data shows 157,290 traders were liquidated in the past 24 hours for $806.63 million.        
• SoSoValue data shows net outflows of $23.2 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ET'Fs saw net inflows of $341.2 million. 
• Crypto chart analyst Ali Martinez noted 50,000 BTC, worth $6 billion, were sold by whales in the last two weeks.

Notable Developments:

• Bitcoin ETFs Coming To Japan? Regulator To Propose 20% Flat Crypto Gains Tax, ‘Financial Product’ Status: Report
• GOAT Network Establishes Pilot Fund With 34 BTC Treasury Purchase
• Solana To Follow Bitcoin, Ethereum With $1 Billion Raise By These Three Crypto Firms
• Bitcoin ‘Hanging By A Thread’ Around $112,000, Analyst Warns
• Tokenized Equities In The Crosshairs Of Global Stock Exchanges: What Happened?
• Strategy, Metaplanet, BitMine Continue BTC, ETH Purchases: Here’s How Much They Bought

Trader Notes: Crypto trader Stockmoney Lizards sees current levels as a "good support area" that could spark a bounce.

Ted Pillows sees Bitcoin in a distribution phase as whales sell, ETF outflows increase, and corporate buying slows. He is also watching the unfilled CME gap at $94,000–$96,000 as a potential target.

Crypto Batman says Bitcoin hasn't topped yet. Retail FOMO is absent, with Google search interest still low compared to 2018 and 2022 peaks. He suggests BTC has room to climb until retail returns.

Castillo Trading plans to long at lower-limit support, short/take profits near upper-limit resistance. No breakout expected yet.

Daan Crypto Trades notes Bitcoin and Ethereum both broke down in the weekend flush but are now attempting to re-enter their ranges. Reclaiming those key areas would strengthen the relief bounce case.

Read Next: 

• Bitcoin’s Potential September Correction To Below $100,000 Could Be ‘The Real Opportunity’, Trader Touts

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