Bitcoin tapped $80,000, but traders remain cautious ahead of Fed Chair Warsh’s speech at Jackson Hole on Friday.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $79,925 |
| Ethereum | (CRYPTO: ETH) | $2,495 |
| Solana | (CRYPTO: SOL) | $108.03 |
| XRP | (CRYPTO: XRP) | $1.45 |
| Dogecoin | (CRYPTO: DOGE) | $0.08897 |
| Shiba Inu | (CRYPTO: SHIB) | $0.055455 |
Notable Statistics:
- Coinglass data shows 90,734 traders were liquidated in the past 24 hours for $421.26 million.
- SoSoValue data shows net inflows of $232.1 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $192.4 million.
- In the past 24 hours, top gainers include VeChain, Official Trump and Ethena.
Notable Developments:
- Solana Surges 5% as Charles Schwab Adds SOL, AVAX, LINK to Crypto Platform
- Bitcoin’s Big Test: The Supply Wall Between $81,000 and $86,000
- Scott Bessent (Un)Intentionally Made Two of Bitcoin’s Strongest Arguments, Bitwise Exec Says
- BlackRock’s Exec Says CLARITY Act Is ‘Less Critical’ for Bitcoin Other Cryptos
Trader Notes:
Daan Crypto Trades predicts that Bitcoin needs to break and hold $80,000, with a new higher high above $83,000 likely to trigger stronger FOMO, leverage and targets around $98,000.
KillaXBT highlighted that the failure to hold below $57,000 and weeks of consolidation above $62,000 suggest the bearish case has weakened. He sees $82,000+ as the only area worth considering a hedge short.
Michaël van de Poppe noted that the longer Bitcoin holds current levels, the less likely it is to revisit its lows, putting those odds below 15%.
Another leg higher could take BTC to $90,000, followed by a $70,000 to $90,000 range for two to four months before a potential move toward all-time highs.
Image: Shutterstock
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