Cryptocurrency markets are trading higher on Wednesday, boosted by positive inflation data.
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 14.9% and daily active addresses up by 9.7%. Transactions greater than $100,000 remained relatively flat. Exchanges netflows are up by 334.2%.
- Coinglass data reports 103,627 traders were liquidated in the past 24 hours for $267.63 million.
- CryptoQuant Founder and CEO Ki Young Ju noted that Bitcoin corrections could be smaller in this bull cycle amid steady buying from ETFs and institutions.
Notable Developments:
- Trump Admin’s Crypto Push Revives Industry Hopes For Banking Access
- Morpheus Launches $20 Million In Rewards For AI Compute Providers
- Bitcoin ETFs Spark Institutional Interest: ‘The Doors Have Been Blown Off,’ Superstate CEO Says
- Goldman Sachs CEO Says Bank Can Consider Bitcoin, Ethereum Spot Trading If Regulations Allow
Top Gainers:
Trader Notes: As Bitcoin surged past the $100,000 mark, crypto trader Doug Funnie predicts an explosive rally ahead and wonders, "Can we get there before the weekend?"
Rekt Capital highlights that Bitcoin continues to hold its 4-week technical uptrend line as a key support level. He explains that a deeper correction would require a breakdown below this trend line, but for now, the "technical uptrend remains intact."
According to IntoTheBlock data, 482,000 addresses have purchased Bitcoin within the range of the current price and $100,000.
However, the key demand zone lies between $94,800 and $97,700, where over 1.3 million addresses have accumulated Bitcoin. The firm notes that "this range represents a critical area for potential support."
Daan Crypto Trades forecasts a slow, choppy climb for Bitcoin, with traders likely to face volatility before a genuine breakout occurs.
Read Next:
Image: Shutterstock
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
