Cryptocurrencies are up on Monday, despite Bitcoin retracing a spike above $122,000 back to $120,000.
Notable Statistics:
- IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 5% and dropped 25.7%, respectively. Daily active addresses dipped 16.6% and grew 4.2%, respectively.
- Coinglass data shows 129,708 traders were liquidated in the past 24 hours for $466.06 million.
- The top gainers in the last 24 hours include Pump. Fun (CRYPTO: PUMP), Lido DAO (CRYPTO: LDO) and Uniswap (CRYPTO: UNI).
Notable Developments:
- Ethereum Is Like A ‘Decentralized App Store’: Bernstein
- Bitcoin Hovers Around $120,000: What’s Next?
- Grant Forrest’s 66 Opens Door To Golf’s First Big Crypto Bonus
- Strategy Acquires 155 BTC As Bitcoin, Ethereum ETF Flows Accelerate
- Bitcoin Is Not The ‘Scrappy Underdog’ Anymore And You Can’t Expect It To 10x Every 4 Years Forever, Says Analyst
Trader Notes: Altcoin Sherpa noted Bitcoin recently hit $122,000 but is now pulling back. He expects a possible bounce near $117,000, which coincides with a CME gap, though it's unclear if that will mark the local bottom.
Michael van de Poppe highlighted a bearish daily candle forming after Bitcoin grabbed liquidity near the range high resistance. He suggests a dip toward $116,800 may occur before the uptrend resumes.
Jelle sees Bitcoin gearing up for a move toward $130,000, citing a "power of three" setup in play.
Crypto Seth pointed out the Bitcoin CME gap is nearly filled, expressing a preference for it to close sooner rather than later.
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