Bitcoin Crosses $94,000 For New All-Time High, Dogecoin Back At $0.40, Ethereum Flat: ‘Short-Term Price Action Unpredictable,’ Say Analysts
Cryptocurrency markets are trading higher, with Bitcoin recording a new all-time high at $94,040, according to Coingecko data.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $93,312.89 | +2.9% |
| Ethereum ETH/USD | $3,122.39 | -0.3% |
| Solana SOL/USD | $243.76 | +2.9% |
| Dogecoin DOGE/USD | $0.4053 | +10% |
| Shiba Inu SHIB/USD | $0.00002537 | +4% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 102.3% and daily active addresses up by 13%. Transactions greater than $100,000 are up from 8,261 to 11,812 in a single day. Exchanges netflows are down by 192%.
- Coinglass data reports 98,554 traders were liquidated in the past 24 hours for $289.96 million. Open interest spiked to $59.3 billion.
Notable Developments:
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Bonk BONK/USD | $0.00005573 | +14% |
| Hedera HBAR/USD | $0.1378 | +13.5% |
| Goatseus Maximus GOAT/USD | $1.17 | +12.8% |
Trader Notes: With Bitcoin prices crossing all-time highs of $94,000, crypto trader Jacob Canfield predicts a minimum target of $97,000.
Crypto trader More Crypto Online hopes that Bitcoin can move forward toward $95,000 and then maybe $97,000. On the other hand, the trader remains cautious suggesting this could be a corrective range. He believes the structure lacks clear direction and momentum and is therefore very fragile.
Santiment data noted that with Bitcoin peaking to all-time highs, whale transactions and retail FOMO could make the “short-term price action unpredictable, but the long-term indicators for Bitcoin looking quite sound.”
It also added that in any long-term bull market, dormant coins continuously moving back into circulation.
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