Bitcoin Reclaims $112,000 As Ethereum, XRP, Dogecoin Consolidatec Ahead Of Labor Market Data

Cryptocurrency markets are slightly up on Friday morning as Bitcoin reclaimed $112,000 ahead of pivotal macroeconomic data released in the day.

Notable Statistics:

• Coinglass data shows 95,307 traders were liquidated in the past 24 hours for $267.77 million.
• SoSoValue data shows net outflows of $227.5 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ET'Fs saw net outflows of $167.4 million.

Trader Notes: Crypto trader Jelle noted Bitcoin has reclaimed $112,000 after two weeks below the level, now attempting to flip it into support. He said holding this zone is key for near-term upside, with $118,000 the main target.

Ted Pillows noted the latest bounce looks strong but is driven largely by perpetual futures volume and aggressive long entries, warning it could be a pre-news bull trap given key macro events and rate-cut odds ahead.

For Ethereum, Pillows marked $4,500 as the make-or-break resistance. A reclaim favors longs, while another rejection would tip momentum back toward shorts.

Cryptoinsightuk highlighted XRP lookiing primed for a move. Solana continues to track CryptosBatman's roadmap with precision, pushing higher and setting up more short-term entries.

Trader Tardigrade pointed to Dogecoin’s weekly chart and questioned whether a massive surge could be brewing.

Read Next:

• The Real Reason Behind Bitcoin Outperforming The S&P500, Gold, Real Estate Over The Last 10 Years

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