Cryptocurrency markets are seeing gains across the board despite ongoing ETF outflows, indicating underlying strength in the market.

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 34.7% and daily active addresses up by 4.5%. Transactions greater than $100,000 are up from 6,648 to 10,421 in a single day. Exchanges netflows are down by 332.2%.
• Coinglass data reports 78,239 traders were liquidated in the past 24 hours with the total liquidations at $279.24 million.

Notable Developments:

Top Gainers:

Trader Notes: With Bitcoin prices continuing its uptrend, crypto trader Jelle noted that it is moving as expected.

He believes things will look much better after $97,000.

Echoing similar sentiment, crypto trader Mayne termed this as a nice move after a run of the lows.

While awaiting CPI data, he recommends flipping the midrange level to maintain the upward push.

Crypto trader EliZ notes Bitcoin has reached a critical trigger point but highlights indecision in the market.

He advises adjusting stops to breakeven for active positions.

More Crypto Online explained that the recent upside move could indicate a potential bottom if the price holds above $94,244, with an ideal next high reaching at least $97,995.

The pattern resembles the lead-up to the January 6th top but appears weaker.

The rally began from a favorable location, increasing the chances of a low being established yesterday.

A confirmed upside reversal requires the price to form and hold a higher low in a subsequent wave 2.

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