Cryptocurrency markets are slipping on Thursday as investors initiate selling to take profits.
Notable Statistics:
Coinglass data shows 179,931 traders were liquidated in the past 24 hours for $674.74 million. In the past 24 hours, top losers include Aster (CRYPTO: ASTER), MYX Finance (CRYPTO: MYX) and Plasma (CRYPTO: XPL).
Notable Developments:
Bitcoin Minted 70,000 New Millionaires -- Here's Where They're Investing Their Profits Forget Dogecoin, Shiba Inu -- Floki Is Up 10% And Getting Its First ETF In Europe Luxembourg Invests In Bitcoin, Allocates 1% Of Sovereign Wealth Fund Portfolio Sharps Technology Bets Big On Solana With New Coinbase Partnership Block Shares Hit 8-Month High After Jack Dorsey's Firm Announces Bitcoin Payments For Square PoS System Retail Investing Is A 'Structural Force': Roundhill CEO Says MEME ETF Reflects Market Shift
Trader Notes: CrediBULL Crypto noted that Bitcoin faced two rejections at local supply and now looks set to move lower toward the higher timeframe (HTF) demand zone between $108,000-$118,000, where a potential bottom may form.
Crypto trader Ken highlighted that the market remains choppy with no clear direction. Bulls need to defend the $120,000-$121,000 lows to enable a move back toward $124,000. Until a breakout occurs, scalping the range extremes is the most practical strategy.
Crypto Bully explained that during Bitcoin's strong monthly open uptrend, buying the first test of the monthly VWAP (middle line) is the easiest dip-buy opportunity. The $121,000 → $124,000 range was the initial play.
After multiple tests, focus shifts to a potential sweep and reclaim of the lower band, with $118,000 needing to hold for the uptrend to remain intact.
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$BTCBitcoin - United States dollar$121170.01-1.76%Overview$DOGEDogecoin - United States dollar$0.2471-3.38%$ETHEthereum - United States dollar$4333.90-4.26%$SHIBShiba Inu - United States dollar$0.000012-3.40%$SOLSolana - United States dollar$218.50-4.64%$XRPRipple - United States dollar$2.80-2.71%Market News and Data brought to you by Benzinga APIs