Early Thursday trading saw Bitcoin climb to levels not seen in two months, exceeding $118,000.
|
Cryptocurrency |
Ticker |
Price |
|
Bitcoin |
(CRYPTO: BTC) |
$118,705.11 |
|
Ethereum |
(CRYPTO: ETH) |
$4,382.63 |
|
Solana |
(CRYPTO: SOL) |
$225.07 |
|
XRP |
(CRYPTO: XRP) |
$2.99 |
|
Dogecoin |
(CRYPTO: DOGE) |
$0.2579 |
|
Shiba Inu |
(CRYPTO: SHIB) |
$0.00001261 |
Key Highlights:
-
Figures from Coinglass reveal that over the last day, $357.41 million was liquidated, affecting 106,691 traders.
-
SoSoValue’s data indicates substantial net inflows into spot Bitcoin ETFs on Wednesday, totaling $675.8 million. Spot Ethereum ETFs experienced net inflows of $80.8 million.
Analyst Insights: Daan Crypto Trades pointed out the historical strength often seen in October, while advising against relying solely on seasonal trends for investment strategies.
Bitcoin has seen gains in each October for the past six years, with performance mirroring typical average returns over the last half-year.
Trader XO mentioned that BTC is trading close to a high-value area of roughly $119,000, coinciding with a five-week composite high of $120,000, which presents near-term resistance. A price dip towards $114,000–$115,000 might provide a favorable chance to buy as part of a corrective maneuver.
Crypto Bully noted that Ethereum established a temporary low around $3,900, with $4,300 acting as a significant barrier. Muted reactions around this threshold suggest a potential resurgence of bullish momentum, creating chances for long positions.
Crypto chart expert Ali Martinez emphasized that XRP is maintaining support around $2.80, suggesting the possibility of a rally if that level is sustained.
Regarding Solana, Martinez anticipates that the recent bullish retest is complete, with price targets of $320–$360 as the next move.
Daan Crypto Trades observed that Dogecoin has held critical support and made a higher low, echoing trends seen in other major cryptocurrencies. Continued higher lows and higher highs could set the stage for a more substantial move upward.
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