Bitcoin Holds $63,000 as Ethereum, XRP, Dogecoin Trade Flat on Equities Bounce

Bitcoin traded around $63,000 on Monday, holding above key support as macro volatility eased off.

Notable Statistics:

• Coinglass data shows 67,757 traders were liquidated in the past 24 hours for $257.04 million.       
• SoSoValue data shows net outflows of $265.4 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net inflows of $9.03 million.
• In the past 24 hours, top losers include Audiera, Uniswap and Pi.

Notable Developments:

• Tom Lee’s Bitmine Buys 10,399 ETH For $19.1 Million: Why Is BMNR Not Rallying?
• Was $60,000 the Bitcoin Bottom? There’s a Good Argument for This, Says Scott Melker
• Cardano Tops Weekly Crypto Gainer Charts as ADA Soars 11% Over 7 Days — Bitcoin, Dogecoin Left in the Dust
• Could XRP Benefit if the Fed Pivots Again? One Macro Strategist Says Yes
• Strategy Sold 1,638 BTC for $105 Million: Will MSTR Now Plunge Below $90?
• CLARITY Act Failure Wouldn’t Be Devastating for Crypto, Ex-CFTC Chairman Says
• Bernie Sanders, Ben McKenzie Slam CLARITY Act as a Handout to Crypto’s ‘Gambling’ Industry

Trader Notes:

Crypto trader Michael van de Poppe says Bitcoin and broader markets are consolidating after Monday’s selloff and expects both to resume their upward trend over the next few days.

CryptosBatman noted Bitcoin has reached a key technical inflection point, with the 200-day EMA and descending channel resistance converging. The price reaction at this level is expected to determine Bitcoin’s next major directional move.

Trader Justin Bennett explained Bitcoin is facing a critical battle at the $64,000 level. While whale positioning has turned more bullish, declining open interest suggests the move is being driven by short covering rather than new long positions.

Aggressive selling at the bid/ask, like previous swing highs, indicates sellers currently have the upper hand.

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