Cryptocurrency markets are trading higher on Friday after experiencing significant volatility throughout the day.
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 6.2% and daily active addresses falling by 0.02%. Transactions greater than $100,000 are down from 11,991 to 11,484 in a single day. Exchanges netflows are down by 335%.
- Coinglass data reports 111,905 traders were liquidated in the past 24 hours for $381.10 million.
Notable Developments:
- EXCLUSIVE: Answering Key Questions About Bitcoin’s Future 10 Days Before The Inauguration
- Crypto Fear And Greed Index Hits Lowest Level Since October As Bitcoin Falls Under $92K, Dogecoin And Shiba Inu Trade In Red
- Bitcoin Takes ‘Stairs Up’ And ‘Elevator Down’ On Labor Market Data: What’s Next?
- Coinbase Subpoenaed Over Polymarket Involvement, Federal Agency Seeks Customer Information
Top Gainers:
Trader Notes: With Bitcoin prices changing course to green after a highly volatile day, crypto trader Altcoin Sherpa acknowledged the tough market conditions but expressing relief it’s Friday.
He predicts a "weekend altcoin season" to begin tomorrow.
Altcoin Sherpa believes Bitcoin is in a bounce zone, with high volatility suggesting potential for modest short-term gains. He advises scalping for most trades.
Additionally, he sees Bitcoin as having momentarily bottomed, while altcoins are expected to continue their slight rebounds.
According to Glassnode data, new investors now hold 49.6% of Bitcoin’s liquidity, indicating that seasoned investors have sold during the uptrend, with strong demand from new buyers absorbing the sell pressure.
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