Bitcoin is trading around $80,000 as Middle East tensions escalate and ETFs reverse course with significant outflows, breaking five consecutive days of heavy inflows.
Bitcoin ETFs saw $277.5 million in net outflows on Thursday, while Ethereum ETFs reported $103.5 million in net outflows.
Meme coin market capitalization is trading 1.4% lower to $38.9 billion over the past 24 hours.
Trader Commentary:
Trader Michael van de Poppe said Bitcoin’s short-to-long-term realized value ratio is flashing signals similar to past market bottoms in 2022, 2018 and 2014, suggesting the bear market may be nearing its end.
Cryptic Trades noted Ethereum breaking below its daily Bull Market Support Band could send ETH toward the $2,100 support zone before a stronger rebound form.
Analyst Altcoin Sherpa sees Solana has been heavily beaten down but could lead the next recovery rally if risk appetite returns to crypto markets.
CryptoBusy noted XRP is nearing the apex of a major symmetrical triangle after nearly 300 days of consolidation, setting up for a potentially sharp breakout move.
Crypto Tony predicts Dogecoin remains weak in the near term, with traders watching for dip-buying opportunities.
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