Bitcoin Holds Near $122,000 On Sentiment Shift, Ethereum, XRP, Dogecoin Slide

Cryptocurrencies are down on Wednesday morning, with the crypto Fear & Greed Index falling to 55, slipping into the Neutral zone.

Notable Statistics:

• Coinglass data shows 170,705 traders were liquidated in the past 24 hours for $642.81 million.       
• SoSoValue data shows net inflows of $875.6 million million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $420.9 million.

Trader Notes: Ted Pillows highlighted a major liquidity zone between $116,000–$118,000, where price may see strong reactions. He notes that older BTC whales have resumed selling, so ETF inflows remain a key factor—slower inflows could trigger a deeper correction.

Mikybull Crypto emphasized that the current pullback is healthy, not bearish, presenting potential swing long opportunities if support holds.

For Ethereum, Trader XO marked $4,500 as a key level to reclaim before re-entering longs. Momentum has shifted temporarily from bullish to bearish, so shorts from $4,700 remain the plan until market structure signals a clear directional flip.

Crypto chart analyst Ali Martinez predicts a potential retest of the triangle's bottom at $2.72, indicating a near-term consolidation phase.

Martinez sees SOL breaking out of a cup-and-handle formation, projecting a potential target of $1,300 if the breakout confirms.

EtherNasyonal highlighted DOGE entering a new mega cycle. After a long accumulation phase similar to 2018, it has reformed a "Pre-Mega Run" structure. The setup mirrors pre-2021 parabolic conditions but with stronger fundamentals, timing, structure, and momentum, suggesting DOGE could lead the next major rally.

Read Next:

• Bitcoin Could Reach $150,000 If Q4 Seasonality Delivers, Trader Says

Image: Shutterstock