Bitcoin Holds $64,000, Ethereum Up 2%, but XRP, Dogecoin Disappoint

Major cryptocurrencies rallied over 1% on Wednesday, buoyed by continuing strength in the equity market.

Notable Statistics:

Coinglass data shows 69,958 traders were liquidated in the past 24 hours for $216.18 million.       

SoSoValue data shows net inflows of $211.5 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $53.8 million.

In the past 24 hours, top gainers include Pump.fun, Uniswap and Zcash.

Notable Developments:

Trader Notes:

Crypto chart analyst Ali Martinez noted Bitcoin has flashed a bullish SuperTrend buy signal, a technical indicator that previously preceded a 16% rally from $57,700 to $68,900 after its last trigger on July 3.

Trader Crypto Bitlord believes Bitcoin is on the verge of a sharp upside breakout, pointing to an early move above key 4-hour resistance. He argues that the market is overdue for a large bullish “god candle” after an extended period without a strong vertical rally.

Swing and chart trader Jesse Olson maintains that Bitcoin remains in a bear market but believes the cycle is approaching a turning point.

Based on the model, October could mark the bottom, followed by a 45-month bull run that ultimately drives Bitcoin above $180,000.

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