Crypto markets are experiencing strong momentum on Friday, with key assets posting gains.
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 5.8% and daily active addresses growing by 5.3%. Transactions greater than $100,000 are down from 9,846 to 9,450 in a single day. Exchanges netflows are down by 347%.
- Coinglass data reports 86,832 traders were liquidated in the past 24 hours for $184.85 million.
Notable Developments:
- Robinhood’s January Metrics Shine, But Crypto Notional Trading Volume Hits A Speed Bump Sequentially
- Coinbase CEO Brian Armstrong Wants Congress To Bring Clarity On Whether Tokens Are Securities Or Commodities, Wants Stablecoin Regulation To Drive Crypto Investments
- Brian Armstrong Wants To Handle Growing Volumes Of Memecoins By Adding DEXes Into Coinbase: ‘A Little Bit Like The Early Days Of The Internet’
- Billionaire Peter Thiel-Backed Crypto Startup Plasma Raises $20M To Develop Bitcoin-Based Stablecoin Network
- El Salvador’s Bitcoin President Nayib Bukele Meets Michael Saylor To ‘Accelerate Adoption’
Top Gainers:
Trader Notes: Crypto trader Cold Blooded Shiller explains that two weeks after the largest liquidation event in history, sentiment feels much worse than it is.
Despite short-term turbulence, strong growth and adoption are still expected this year. The path forward remains higher.
Crypto trader CJ predicts a weekend pullback/chop and if the first trouble area of $98,100 is cleared, it can rally to $103,000.
More Crypto Online sees Bitcoin testing resistance in the short-term bearish scenario, with price action tightening within a narrowing range.
The resistance is between $96,705–$97,519, micro support between $95,000–$95,662 and key support at $93,639.
While probabilities remain balanced, the market lacks a clear directional bias. Staying flexible is crucial in this uncertain environment.
Crypto trader EliZ sees Bitcoin in a range for almost two weeks. He predicts a big move soon but cautions to operate only on confirmation as direction is almost impossible.
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