Bitcoin, Ethereum, XRP, Dogecoin Climb Higher As Inflation Volatility Eases: 'Don't See A Reason To Go Back To Lows,' Trader Says

Crypto markets are stabilizing and trending upward after an initial drop following the higher-than-expected COnsumer Price Inflation report.

Notable Statistics:

• IntoTheBlock data shows large transaction volume increased by 3.2% and daily active addresses grew by 2.6%. Transactions greater than $100,000 are up from 9,866 to 10,487 in a single day. Exchanges netflows are down by 192.3%.
• Coinglass data reports 142,147 traders were liquidated in the past 24 hours for $310.39 million.
• IntoTheBlock data points out that the 1.6 million addresses that historically acquired 1.57 million BTC at an average price of 97,200 are now forming a resistance level. It also added that "these holders may sell near their breakeven amid market uncertainty, adding selling pressure and complicating any clear upward breakout."

Notable Developments:

• Coinbase Expected To Post Strong Earnings As Trading Volume Hits Multi-Year High
• Goldman Sachs Increases Bitcoin ETF Stake Over $1.5 Billion In Q4, Reports A Massive 1793% Jump In Ethereum ETF Holdings
• Trump To Nominate Ex-CFTC Commissioner Brian Quintenz As Agency Head
• El Salvador Proved ‘Bitcoin Is Not Destined To Be Money,’ Analyst Says

Top Gainers:

Trader Notes: With Bitcoin prices resuming uptrend, crypto trader DonAlt predicts its Bitcoin's time to break out.

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Crypto Chase explained that he is still holding Bitcoin long position from $95,600 after having survived 8 days of chop and the CPI release.

He sees prices at local resistance, but traders are looking to take profits higher.

The trader moved his stop loss to around $94,000 as local liquidity was swept and demand held, making a return to the lows unlikely.

Crypto trader Jelle sees Bitcoin is retesting mini range and a bounce will take it back to 100,000 while Scient highlighted on Bitcoin is showing strength on a bearish news, which is a net positive outlook in the near term.

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