Cryptocurrencies traded in a tight sideways range on Thursday, awaiting the release of inflation data on Friday.
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 4.2% and daily active addresses growing by 5.2%. Transactions greater than $100,000 are up from 9,714 to 9,796 in a single day. Exchanges netflows are down by 90.5%.
- Coinglass data reports 95,153 traders were liquidated in the past 24 hours for $213.18 million.
Notable Developments:
Top Gainers:
Trader Notes: Benjamin Cowen warns of an impending Bitcoin death cross, historically aligning with local lows.
CryptoCon sees Bitcoin’s cycle resembling 2015–2017, featuring healthy retests rather than bearish ones, which typically signal a First Cycle Top or bear market.
Crypto Caesar warns not to expect much from Bitcoin at resistance. For further momentum, BTC needs to break this level.
Bitcoin bulls are defending support, according to The Cryptomist. Holding this level is crucial to avoid bearish retests. Bulls need to break $87,700 to push towards $90,00.
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