Cryptocurrencies are trading slightly up on Thursday as traditional financial markets closed out a low-volatility week.
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 21% and daily active addresses falling by 1.6%. Transactions greater than $100,000 are down from 9,765 to 9,314 in a single day. Exchanges netflows are up by 52.8%.
- Coinglass data reports 70,013 traders were liquidated in the past 24 hours for $138.74 million.
Notable Developments:
- Bhutan Flexes Hydropower For Bitcoin Mining, Explores Sale Of ‘Green’ Coins
- Millennium Management’s Bitcoin And Ethereum ETFs Purchased In Q4 Suffer $22.7 Million Loss Amid Crypto Slump
- Unrealized Bitcoin Losses Hit All-Time High, Glassnode Says: Bear Market Signs?
- Coinbase Global Goes From Boom To Bust Amid Crypto Winter, Analyst Trims Q1 Estimates
- Binance Advising Nations On Strategic Bitcoin Reserves, Crypto Regulation: Report
Top Losers:
Trader Notes: Crypto chart analyst Ali Martinez highlights Bitcoin being stuck between two major supply zones: $81,440 and $86,430, suggesting it needs a clean breakout to escape the range.
More Crypto Online points out that volatility remains compressed, but price is edging closer to resistance. A break above yesterday's high could trigger a sharp rally to $87,900. For now, Bitcoin is still in a choppy, convictionless correction.
Altcoin Sherpa offers a bold outlook, saying he strongly believes Bitcoin will either blast through to $93,000 or drop into the high $70,000s in a single decisive move. He notes that Bitcoin has been ranging for nearly a month.
Nebraskangooner sees Bitcoin consolidating above key support and believes if the current structure resolves upward, there’s a real chance of testing the $90,000+ resistance.
Degengambleh offers a dual-scenario outlook: either a “Green God Candle” breakout with no turning back, or one final shakeout before a face-melting rally to new highs.
In either case, he believes the bottom is likely in and not just for Bitcoin, but for most meme coins as well.
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