Cryptocurrency markets were down on Wednesday despite Vice President JD Vance’s vow of support for the digital asset industry at the Bitcoin Conference in Las Vegas.

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 12% and daily active addresses down by 8%.
• Coinglass data reports 81,179 traders were liquidated in the past 24 hours for $203 million.

Notable Developments:

Trader Notes: Prominent analyst Ali Martinez pointed out that $106,800 is a crucial support zone for Bitcoin that needs to hold to prevent a steeper drop.

Trader Altcoin Sherpa said he is not rushing into positions and doesn’t know where the market will go in the short term, advocating for a “move slow” approach in tough conditions.

Trader Altcoin Psycho sees a “big moment” coming up for Solana, with $140 to $150 as a “great zone” for bids in case price declines to that level.

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