Bitcoin held above $63,000 as cooler-than-expected inflation data eased concerns over aggressive Federal Reserve tightening, helping lift sentiment across the cryptocurrency market.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $63,577 |
| Ethereum | (CRYPTO: ETH) | $1,684 |
| Solana | (CRYPTO: SOL) | $66.54 |
| XRP | (CRYPTO: XRP) | $1.13 |
| Dogecoin | (CRYPTO: DOGE) | $0.08609 |
| Shiba Inu | (CRYPTO: SHIB) | $0.054837 |
Notable Statistics:
- Coinglass data shows 119,414 traders were liquidated in the past 24 hours for $303.20 million.
- SoSoValue data shows net outflows of $213.9 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ET'Fs saw net outflows of $35.6 million.
- In the past 24 hours, top gainers include Audiera, Stargate Finance and DeXe.
Notable Developments:
- Bitcoin Needs A New Catalyst, Ethereum, Solana, XRP Have Distinct Appeal, Top Morgan Stanley Exec Says
- Kevin O’Leary Says ‘Bitcoin’s Going Nowhere Until CLARITY Becomes Law’
- Bitcoin ETFs Still Hold 93% Of Their BTC: Are Institutions Not Bearish After All?
- SpaceX IPO Driving Capital Rotation From Crypto Into AI, Solana Foundation President Says
- Are Bitcoin ETF Buyers Rotating Into XRP ETFs? This Schwab Exec Says Maybe
- DOGE Crashed 31% The Last Time This Indicator Fired: Now It Is Flashing Buy
Trader Notes:
Crypto chart analyst Ali Martinez says Bitcoin is nearing a breakout as it trades within a symmetrical triangle, with key resistance at $63,000 and support at $61,000.
A decisive hourly close above or below this range could trigger a roughly 10% move, with volume expected to provide early confirmation of the breakout direction.
Ted Pillows notes that Bitcoin has historically never bottomed below its estimated electrical production cost, currently around $49,390, except during the COVID-19 crash.
Based on this metric, a drop below $50,000 would likely require a major market shock, such as an FTX-style collapse or a significant geopolitical escalation.
Image: Shutterstock
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