Bitcoin, Ethereum Slip, XRP, Dogecoin Hold Gains On Slow Wednesday

The global cryptocurrency market is currently experiencing a 2.1% increase in capitalization, reaching $2.7 trillion. Amid this mixed sentiment, Bitcoin and Ethereum are facing challenges in maintaining their recent gains. Conversely, XRP is witnessing an upswing driven by positive expectations concerning the SEC potentially concluding its case against Ripple.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$82,997.45	-0.13%
Ethereum ETH/USD	$1,876.24	-3.7%
Solana SOL/USD	$124.56	-2.1%
XRP XRP/USD	$2.23	+2.5%
Dogecoin DOGE/USD	$0.1689	+1.3%
Shiba Inu SHIB/USD	$0.00001229	+0.8%

Notable Statistics:

• According to data from IntoTheBlock, there has been a 5.2% increase in large transaction volume, while daily active addresses decreased by 3.4%. Transactions exceeding $100,000 fell from 11,844 to 10,766 within one day. Additionally, exchange netflows have decreased by 100.9%.
• Data from Coinglass shows that in the last 24 hours, 97,058 traders have faced liquidation amounting to $281.42 million.

Notable Developments:

• Binance has successfully secured a $2 billion investment from Abu Dhabi MGX.
• Rumble has acquired Bitcoin, stating it is ‘A Valuable Hedge Against Inflation’.
• Bitwise has launched an ETF that tracks firms holding over 1,000 Bitcoins.
• According to Standard Chartered, Bitcoin could reach $200,000 by the end of 2025, despite concerns about Trump tariffs and economic recession.
• Following Vladimir Putin's assertion that ‘Nobody Can Ban Bitcoin’, the Bank of Russia is exploring avenues to permit cryptocurrency purchases.

Top Gainers:

Cryptocurrency	Price	Gains +/-
Pi PI/USD	$1.70	+21.5%
Celestia TIA/USD	$3.58	+16%
Story IP/USD	$6.04	+9.7%

Trader Insights:

Trader Intuitio suggests that Bitcoin has merely had a taste of a bull market, whereas Ethereum never truly experienced one; the latter was simply in an echo bubble that has now popped. He notes that with Bitcoin retesting its previous all-time high, there’s potential validity in the assertion that the bull run may have yet to truly commence.

On the contrary, trader Jelle maintains that bears remain in control, pointing out that Monday’s highs were breached, followed by a lower low after several successive higher lows. He cautions that when bearish setups unfold clearly, it becomes critical not to chase short-term upsides; instead, he advocates for patience.

Another trader, known as Moustache or El Crypto Prof, highlights that the last instance the S&P 500's daily RSI was at such a low level, Bitcoin surged over 300% afterwards. With both Bitcoin and the S&P 500 reaching an essential trendline, he perceives this as a potentially bullish indicator.

In conclusion, while the market displays a mixture of hopes and fears, uncertainty prevails as traders analyze their strategies moving ahead.

cryptocurrency, market, trading