Bitcoin Holds $113,000 As Ethereum, XRP, Dogecoin Dip

Cryptocurrency markets are trading lower on Wednesday as continued profit-taking weighs on the market’s short-term prospects.

Notable Statistics:

• Coinglass data shows 120,149 traders were liquidated in the past 24 hours for $440.29 million.    

• SoSoValue data shows net outflows of $523.3 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net outflows of $422.3 million.

Trader Notes: Willy Woo said Bitcoin’s spike to $124,500 before sliding to $112,500 was a liquidation-driven shakeout. With the MCR Risk Signal declining, liquidity is returning, setting BTC up for another leg higher.

Crypto trader Jelle noted that after 18 hours, Bitcoin has cleared most liquidity pockets with the August low intact. He sees reclaiming $118,000 as the next key step.

Michael van de Poppe highlighted Ethereum sitting in a prime dip-buying zone, expecting a 10% bounce as volatility cools and accumulation begins.

Altcoin Sherpa said Solana has reached his accumulation zone and he plans to dollar-cost average gradually.

Crypto Zeinab compared Dogecoin’s setup to its 2024 rounding bottom. A breakout above $0.29 could trigger a rally toward $0.80 in Q4 if history repeats.

Crypto chart analyst Ali Martinez noted XRP is flashing a buy signal, ready for a bounce after timing the top.

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