Bitcoin Holds $109,000 As Ethereum, XRP, Dogecoin Attempt To Break Higher

Cryptocurrency markets are trading at range highs on Wednesday, with altcoins buoyed by Bitcoin consolidating just below the $110,000 level.

Notable Statistics:

• IntoTheBlock data shows large transaction volume decreasing by 15.1% and daily active addresses growing by 13.5%. Transactions greater than $100,000 remain relatively flat at around 10,800. Exchanges netflows are down by 192.6%.
• Coinglass data reports 70,408 traders were liquidated in the past 24 hours for $150.75 million.

Notable Developments:

• Buckle Up, Visa: Stablecoins Process $800 Billion In Transactions Per Month, Report Finds
• XRP, Ethereum, Solana And One Surprise Crypto (Not Bitcoin) Are Bitwise’s ‘Cleanest Plays’
• Polymarket Bettors See 50% Chance Of Fed September Rate Cuts As Trump Turns Up Heat On Powell
• Cathie Wood Agrees Circle IPO Is ‘Crypto’s ChatGPT Moment’ — Warns Institutions That Ignoring The AI-Crypto Combo ‘Just Isn’t An Option’

Top Gainers:

Trader Notes: Crypto General noted that Bitcoin is consolidating within its daily range, setting up for a potential breakout. Despite skepticism around tariffs and Trump’s recent announcement, the chart signals remain bullish. He targets a move toward $115,000 in the near term.

Crypto trader Scient believes BTC is currently stuck in a “nowhere” zone, limiting trading interest. While he is watching two key trigger levels, he is also waiting for one of these scenarios to play out before re-engaging.

• Short setup: If price sweeps and deviates above $110,500, you’re looking to short.
• Long setup: If price sweeps below $105,200, you’re interested in a long entry.

Trader AK47 observed high-leverage liquidity pockets have formed around $110,000 and $108,000. These zones are likely price magnets, increasing the chances of a move toward them in the short term.

Read Next:

• Bitcoin Teetering At $109,000: Where’s It Headed Next?