Cryptocurrency markets are trading lower on Thursday as President-elect Donald Trump rang the bell at the New York Stock Exchange.
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 5.3% and daily active addresses falling by 11.9%. Transactions greater than $100,000 remained relatively flat while exchanges netflows are up by 308.9%.
- Coinglass data reports 100,126 traders were liquidated in the past 24 hours for $290.48 million.
Notable Developments:
Top Gainers:
Trader Notes: With Bitcoin prices breaking the $100,000 mark, crypto trader Jelle sees a potential drop back to $97,000 from here. He added that this could be for scaring traders and then a "real breakout."
Jelle is expecting a "true breakout before Christmas — 2025 is going to be a crazy ride."
Crypto trader Javon Marks sees Bitcoin trading well above the $67,559 level, indicating a bullish setup.
The next target is $116,652, representing a potential 15% move higher. A breakout above this level could pave the way for further gains, with more than $165,000 as the subsequent target.
Crypto trader Nic predicts an "explosive BTC price action" as the 20-day Bollinger band bandwidth is at its lowest level in months. He advises, "Keep an eye out for an upside breakout above the upper band."
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