Bitcoin, Ethereum, XRP, Dogecoin Slide: Is One More Weekend Dip On The Horizon?

Cryptocurrency markets are trading lower ahead of the weekend, as profit-taking by Bitcoin whales activity weighs on price action.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 5.8% and 5.1%, respectively. Daily active addresses decreased by 6% and grew by 3.5%, respectively.
• Coinglass data shows 128,577 traders were liquidated in the past 24 hours for $496.67 million.  
• The top losers in the past 24 hours include Pump.fun PUMP/USD, Fartcoin FARTCOIN/USD and SPX6900 SPX/USD.

Notable Developments:

• BlackRock’s Head Of Digital Asset Strategy To Join Ethereum Treasury Company SharpLink
• Strategy Upsizes $500 Million IPO To $2.5 Billion: Which Other Companies Are Buying Bitcoin?
• Why Are Public Companies Ammassing ETH, XRP, SOL, BNB Instead Of Just Bitcoin?
• MARA Holdings Stock Slips On $1 Billion Note Offering, Analyst Upgrade Offers Support
• Michael Saylor’s Strategy Is Amping Up Its Preferred Stock Offering From $500 Million To $2 Billion For Buying Bitcoin: Report

Trader Notes: Crypto chart analyst Ali Martinez has identified $116,095 as Bitcoin's key support and $118,955 as resistance. These levels are crucial for determining the next directional move as BTC trades in a narrowing range.

Investor Ted Pillows says Bitcoin has just cleared liquidity at the range low, trapping bearish traders and setting the stage for a sharp bullish reversal.

He suggests a breakout above $120,000 could happen as early as next week, catching the market off guard.

Michael van de Poppe offers a more cautious take. He notes Bitcoin's failure to reclaim a key resistance has left the door open for one more dip this weekend before any sustained move higher can begin.

According to Santiment, Bitcoin and XRP are seeing fading trader optimism and low greed levels, while Ethereum’s 147% rally since April has kept bullish sentiment high.

Markets often move contrary to the crowd, positioning BTC and XRP as as attractive buy-low opportunities going into the weekend.

Read Next:

• Bitcoin Halving Cycles? No Longer Key, Says Bitwise’s Matt Hougan

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