Financial Insights That Matter
Cryptocurrency markets are trading higher on Friday, amid Florida passing a Bitcoin reserve bill.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $83,687.73 | +5.5% |
| Ethereum ETH/USD | $1,565.31 | +3.3% |
| Solana SOL/USD | $120.10 | +8.4% |
| XRP XRP/USD | $2.03 | +4.3% |
| Dogecoin DOGE/USD | $0.1599 | +4.6% |
| Shiba Inu Shib / USD | $0.00001220 | +5.7% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 12.3% and daily active addresses grow ingby 5.6%. Transactions greater than $100,000 are down from 11,411 to 10,6343 in a single day. Exchanges netflows are down by 467.5%.
- Coinglass data reports 98,702 traders were liquidated in the past 24 hours for $242.45 million.
Notable Developments:
Top Gainers:
| Cryptocurrency | Price | Gains +/- |
| Onyxcoin XCN/USD | $0.02533 | +53.4% |
| Fartcoin FARTCOIN/USD | $0.9031 | +29.7% |
| AB AB/USD | $0.01340 | +24.2% |
Trader Notes: Crypto traders are watching Bitcoin’s price action closely as it attempts to break free from a persistent downtrend—and many believe this time could be different.
Jelle highlighted that Bitcoin is trying to break out of a downtrend it’s failed to escape seven times before. The big question: will bulls finally push through the $84,000 resistance?
Ali Martinez raised caution, asking whether Bitcoin’s recent bounce was the completion of a W pattern, and if so, is an M pattern, a bearish reversal on deck?
Mayne noted that Bitcoin is testing a key 12-hour order block (H12 OB). A flip of this resistance into support could generate serious upside momentum, making for what he calls “a very fun weekend.”
Rekt Capital emphasized that a true breakout isn’t confirmed yet—Bitcoin needs a daily close above the downtrend and a successful retest to validate the move.
Meanwhile, Titan of Crypto spotted a potential Inverse Head & Shoulders pattern playing out. If confirmed, the long-term measured move projects a target near $125,000 by 2025.
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