Bitcoin, Ethereum, XRP, Dogecoin Struggle, But Traders Say It's 'Just Another Healthy Retest'

Cryptocurrency markets are slightly down on Friday morning ahead of Fed Chair Jerome Powell‘s speech at Jackson Hole.

Notable Statistics:

• Coinglass data shows 81,748 traders were liquidated in the past 24 hours for $240.55 million.       
• SoSoValue data shows net outflows of $194 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $287 million. 
• In the past 24 hours, top gainers include OKB (CRYPTO: OKB), Morpho (CRYPTO: MORPHO) and Monero (CRYPTO: XMR).

Notable Developments:

• Ethereum Consolidates Below $4,300: Is $5,000 Or $4,000 Next?
• Bitcoin Will ‘Come Back Alive Again’ In September, Says Anthony Pompliano: ‘$113,000 Is Pretty Oversold’
• Ethereum’s Strength Against Bitcoin Is Real But Beware A September Pullback, Analyst Warns
• Trump’s Pardon Frees Arthur Hayes To Pursue Stem Cell Enterprises And Bitcoin Treasuries
• Gemini’s Winklevoss Twins Donate $21 Million In Bitcoin To Trump-Leaning PAC To Support US Crypto Leadership

Trader Notes: Cryptos Batman highlighted that while many are calling a cycle top, a broader look at the 4-hour chart shows this is simply a healthy Bitcoin retest.

Altcoin Sherpa views Bitcoin as shaky in the short term but expects a bounce soon, marking $110,000–$112,000 as key support zones.

ShardiB2 observed Bitcoin attempting to reverse from support.

CW noted that Bitcoin remains in a bullish zone but cautioned that the full bull market has yet to begin. IncomeSharks added that Bitcoin is still range-bound, and a support break followed by a quick reversal would not be surprising.

Read Next:

• If Bitcoin Treasury Companies Are Buying Billions, Why Is The Price Not Going Up?

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