Bitcoin Cracks $120,000, Ethereum Taps $4,700 As Solana Surges Past $200

Cryptocurrency markets are trading higher Won ednesday morning, with Ethereum once again leading the way.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction decreased by 6.9% and grew 18.2%, respectively. Daily active addresses dropped 2.1% and increased 4.6%, respectively.
• Coinglass data shows 114,730 traders were liquidated in the past 24 hours for $533.33 million.  
• SoSoValue data shows net inflows of $65.95 million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $523.9 million. 

Trader Notes: Rekt Capital says BTC is perfectly positioned to confirm its bull flag breakout, with $120,000 potentially flipping into strong support for a run to new all-time highs.

Daan Crypto Trades adds that BTC has cleared the $120,000 liquidity cluster after dipping below $115,000, but remains range-bound, shifting trader focus toward altcoins.

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Jelle notes Ethereum is less than 5% from price discovery, with momentum accelerating and only one major resistance left to clear.

Javon Marks sees similarities to past bull cycles, projecting a possible +188% rally toward ~$9.63, with room for even higher moves.

For Solana, Jelle expects a strong comeback; once it breaks above $200, resistance should thin significantly, aligning with the market's broader rally.

Trader Tardigrade spots an inverse head-and-shoulders pattern on the 4-hour chart, with the right shoulder nearly formed, hinting at a possible bullish reversal.

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