Bitcoin, Ethereum, XRP, Dogecoin Turn Green As Trader Warns That ‘Decision Time Is Near’

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Cryptocurrency markets are recovering on Thursday, with Ethereum leading the rally across altcoins.

Notable Statistics:

• IntoTheBlock data shows Bitcoin’s large transaction decreased by 13.4% and daily active addresses grew 6.2%. Exchanges netflows were down by 90.8%. Transactions greater than $100,000 shot up from 10,510 to 11,053.

• Coinglass data shows 229,386 traders were liquidated in the past 24 hours for $666.60 million.

• The top losers in the past 24 hours include Pump.fun (CRYPTO: PUMP), Fartcoin (CRYPTO: FARTCOIN) and Virtuals Protocol (CRYPTO: VIRTUAL).

Notable Developments:

Trader Notes: Glassnode data shows that Bitcoin’s recent surge from $110,000 to $117,000 carved out a low-density accumulation zone, often referred to as an on-chain air gap.

These gaps, while typically thin in volume, have historically served as bottoming zones during corrective phases.

So far, Bitcoin has remained comfortably above its $122,600 all-time high, but if support falters, that air gap could re-emerge as a key demand zone.

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Crypto chart analyst Ali Martinez points to tightening Bollinger Bands on the 4-hour Bitcoin chart, signaling that a volatility spike is likely imminent.

He suggests a decisive close beyond the $117,000–$119,700 range could set off the next significant directional move.

Daan Crypto Trades also highlighted that Bitcoin is nearing a critical decision point, noting price action has been trapped in a choppy triangle pattern for the last couple of weeks.