Cryptocurrency markets are going sideways on Tuesday, with Bitcoin holding steady near $110,000.
Notable Statistics:
- Coinglass data shows 154,442 traders were liquidated in the past 24 hours for $435.54 million.
- In the past 24 hours, top gainers include Sky (CRYPTO: SKY), Pump. Fun (CRYPTO: PUMP) and Bitget Token (CRYPTO: BGB).
Notable Developments:
- Somnia Launches Mainnet, $SOMI Token After Processing 10 Billion Testnet Transactions
- CleanCore Raises $175,000,420 To Establish Official Dogecoin Treasury
- 3 Bitcoin Treasury Firms Show Improving Price Trends, Strong Momentum Signals
- Bitget Transfers 440 Million BGB To Morph Foundation, Establishing BGB As Gas And Governance Token Of Morph Chain
- Strategy Just Bought Another 4,048 BTC—How Far Can Corporate Bitcoin Holdings Go?
- Eric Trump-Backed Metaplanet Becomes World’s 6th Largest Bitcoin Treasury Holding With 20,000 BTC
Trader Notes: Glassnode data shows Bitcoin's pullback to $110,000 remains relatively mild compared to past cycles. Only about 9% of supply is in loss, with unrealized losses capped near 10%.
By contrast, the last cycle bottom saw more than 25% of supply in loss with drawdowns of 23%, while full bear markets historically dragged 50%+ of supply into loss with as much as 78% drawdowns.
More Crypto Online noted that a dip below $109,210 would be the first technical signal of a potential local top.
Coin Bureau's Nic Puckrin added that Bitcoin is showing resilience, reclaiming December's highs and now retesting both May's peak and the 100-day MA, with $112,000 as the key resistance.
Michael van de Poppe described $112,000 as Bitcoin's "ultimate test," suggesting a clean breakout would confirm the bull market's full return, adding: "Good bounce back upwards!"
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