Bitcoin Breaks $100,000, Falls Back Below, Ethereum, Dogecoin Follow Lower: A ‘Scam Dump’ To Wipe Out Leverage? #CriptoNews

Cryptocurrency markets saw highly volatile trading on Thursday, with Bitcoin first crossing the $100,000 milestone but falling back to a low of $98,000 in the afternoon.

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 3.2% and daily active addresses falling by 3.4%. Transactions greater than $100,000 are up from 13,081 to 13,754 in a single day. Exchanges netflows are up by 131.4%.
• Coinglass data reports 180,428 traders were liquidated in the past 24 hours for $650 million.

Notable Developments:

Top Gainers:

Trader Notes: With Bitcoin prices hovering around the $100,000 mark, crypto chart analyst Ali Martinez questions whether this milestone is mere coincidence or part of the “crypto king’s” predictable rhythm.

In previous cycles, Bitcoin required 1,065 days to recover from a bottom to a peak and 1,430 days between market bottoms. If this historical pattern holds, Martinez predicts a market top for BTC by October 2025.

Economist Peter Schiff warned that Bitcoin could undermine the dollar—not by replacing it as the global reserve currency, but by the U.S. government adopting Bitcoin.

Schiff argues this scenario would involve the government printing more dollars to acquire Bitcoin, fueling “a larger bubble that squanders the nation’s wealth.”

Meanwhile, crypto trader Wolf speculates whether Bitcoin’s recent breakout could trigger a “scam dump” aimed at liquidating overleveraged positions.

On the other hand, trader Kevin observes that BTC is struggling to sustain its upward momentum. While he acknowledges the downside risk, he suggests that any significant correction may take time to play out.

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