Major cryptocurrencies are extending their climb as Bitcoin firmly holds above the $106,000 mark.

The broader crypto market is showing signs of renewed confidence, supported by positive sentiment across the U.S., including California passing a Bitcoin payment bill.

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 72.1% and daily active addresses growing by 12.1%. Transactions greater than $100,000 are up from 7,642 to 11,499 in a single day. Exchanges netflows are down by 3,691%.
• Coinglass data reports 80,194 traders were liquidated in the past 24 hours for $208.47 million.
• Santiment data shows 151,820 wallets are holding between 10 to 10,000 Bitcoin. These key stakeholders have aggressively been accumulating over the past week.

Notable Developments:

Top Losers:

Trader Notes: Crypto trader CRG notes that Bitcoin is struggling to reclaim its previous range, suggesting a potential pause or retracement in momentum.

Meanwhile, Stockmoney Lizards remains optimistic, stating that Bitcoin is behaving as expected for a bull market, bouncing cleanly off support levels. The trader sees this as a healthy setup for a move much higher.

The Cryptomist also maintains a bullish outlook, identifying a possible falling wedge pattern, albeit speculative.

More concretely, the trader highlights a valid rising wedge in the mid-range and sets a revised target of $101,800, anticipating a breakout to $118,000–$120,000 afterward.

More Crypto Online views the current price action as a corrective rally, with upside potential. However, the analyst stresses the lack of structural confirmation for a lasting bottom.

For a more convincing bullish scenario, the current move would need to develop into a diagonal pattern or show a clear five-wave impulse upward, a key signal of a sustainable trend reversal.

Until then, caution is warranted as wave counts remain fluid during correction phases.

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