Bitcoin Dips Below $95,000 as Cryptocurrency Market Sees Lackluster Trading on Friday

On Friday, the cryptocurrency markets experienced a downturn, with Bitcoin's price slipping below the $95,000 threshold. Currently priced at $94,485.63, Bitcoin has seen a decline of 1.2% during today's trading session.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$94,485.63	-1.2%
Ethereum ETH/USD	$3,358.23	+0.7%
Solana SOL/USD	$186.67	-1.3%
XRP XRP/USD	$2.17	+0.5%
Dogecoin DOGE/USD	$0.3144	+0.1%
Shiba Inu SHIB/USD	$0.00002185	+0.8%

Interesting Statistics:

• According to IntoTheBlock, there has been a significant increase of 31.6% in large transaction volumes today, although the number of daily active addresses has seen a minor drop of 0.04%. Transactions involving amounts over $100,000 rose from 7,853 to 8,785 in just one day.
• Data from Coinglass reveals that 96,455 traders were liquidated in the previous 24 hours, amounting to a total of $243.64 million.

Recent Developments:

• Bitcoin and Ethereum ETFs have ended a four-day outflow streak, with net inflows of $592 million reported on Thursday.
• The cryptocurrency industry is poised for a potential policy change under the upcoming Trump administration.
• Bitcoin options worth over $14 billion expired today, marking one of the largest events in cryptocurrency history; traders are preparing for the aftermath.
• Vivek Ramaswamy's Strive has submitted an application for a 'Bitcoin Bond' ETF that would track the convertible securities market of MicroStrategy.

Top Gainers:

Cryptocurrency	Price	Gains +/-
Virtuals Protocol VIRTUAL/USD	$3.53	+19.8%
Bitget Token BGB/USD	$8.12	+11%
Lido DAO LDO/USD	$1.96	+9.6%

Trader Insights: As Bitcoin falls below the $95,000 level, crypto analyst Ali Martinez warns that a decline below $92,730 could trigger a steep drop. Fellow analyst Cold Blooded Shiller emphasizes that Bitcoin is approaching a pivotal point, potentially losing its upward momentum since surpassing the $60,000 consolidation range. Daan Crypto Trades notes the choppy, range-bound condition of Bitcoin, underscoring the lack of significant price changes throughout the past week. He identifies key trading levels: the upper bound at $99,500 and the lower bound at $92,000, suggesting that trading within this range might not yield worthwhile outcomes. Chart analyst Jesse Olson remarked that while Bitcoin did achieve a minor rally, it fell short of expectations, forming a lower high instead. He cautions that a daily close below approximately $94,850 could indicate a bearish trend, urging traders to keep an eye on today’s market close for possible indications.

Read More:

• Bitcoin Retreats Below $95,000: What Is Happening with BTC?

Image: Shutterstock

Market analysis and updates provided by reliable cryptocurrency data sources.

Bitcoin, Ethereum, XRP, Trading, Markets