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Bitcoin, Ethereum, XRP, Dogecoin Rise Ahead of Inflation Data Release Wednesday

Cryptocurrency markets are seeing gains overall, despite ongoing ETF exits, indicating underlying strength in the market.

Cryptocurrency Prix Gains +/-
Bitcoin (CRYPTO: BTC) 96 344,48 $ +4,7%
Ethereum (CRYPTO: ETH) 3 201,80 $ +6,2%
Solana (CRYPTO: SOL) 186,30 $ +5,2%
XRP (CRYPTO: XRP) 2,65 $ +7,9%
Dogecoin (CRYPTO: DOGE) 0,3527 $ +8,6%
Shiba Inu (CRYPTO: SHIB) 0,00002138 $ +5,5%

Notable stats:

  • Data from IntoTheBlock shows that trading volume increased by 34.7% and daily active addresses increased by 4.5%. Transactions above $100,000 increased from 6,648 to 10,421 in a single day. Net flows from stock exchanges decreased by 332.2%.
  • Data from Coinglass indicates that 78,239 traders were liquidated in the last 24 hours, with total liquidations amounting to $279.24 million.

Notable developments:

Main increases:

Cryptocurrency Prix Gains +/-
Ai16z (CRYPTO: AI16Z) 1,28 $ +27,4%
When (CRYPTO: KAS) 0,1366 $ +21,2%
Virtual Protocol (CRYPTO: VIRTUAL) 2,97  $ +20,7%

Notes des traders : With Bitcoin prices continuing their upward trend, cryptocurrency trader Jelle noted that it is moving as expected.

He believes things will look much better after $97,000.

Echoing a similar sentiment, cryptocurrency trader Mayne called it an interesting move after a period of dips.

While waiting for CPI data, he recommends switching the mid-range level to maintain the upward push.

Cryptocurrency trader EliZ noted that Bitcoin had reached a critical trigger point, but highlighted market indecision.

He advises adjusting stops to neutral for active positions.

More Crypto Online explained that the recent upward movement could indicate a potential bottom if the price holds above $94,244, with the next ideal high reaching at least $97,995.

The pattern resembles the rise to the January 6 high, but appears weaker.

The rally started from a favorable location, increasing the chances of a decline established yesterday.

A confirmed reversal to the upside requires price to form and maintain a higher low in a subsequent wave 2.

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