Bitcoin, Ethereum, XRP, Dogecoin Trade Sideways After Strategy's BTC Purchase

Bitcoin traded around $79,000 on Monday after Strategy announced its first Bitcoin purchase in months.

Notable Statistics:

• Coinglass data shows 104,578 traders were liquidated in the past 24 hours for $378.71 million.       
• SoSoValue data shows net outflows of $201.8 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net inflows of $102.2 million.
• In the past 24 hours, top gainers include XRP, Hyperliquid and Pepe.

Notable Developments:

• Bitcoin Stalls Around $78,000: Here’s the Key Level to Watch
• Tom Lee Says Markets Could ‘Rally Very Strongly’ in September, Touts Fed Surprise
• Bitmine Buys 53,501 ETH: What Does It Mean for BMNR?
• Bill Gates Won’t Pick Crypto to Diversify Away From the Dollar, Calls It ‘Pure Mania-Driven Asset’ — Here’s What the Billionaire Would Choose Instead
• Bitcoin, Ethereum Trade Sideways but Analysts Warn Against Switching to Meme Coins
• BTC, ETH, SOL Pull Back After Explosive Rally but ‘Nothing’s Broken Yet,’ Top Trader Says
• Hyperliquid In Talks To Enter US Via Kraken’s Parent Company

Trader Notes:

Crypto trader Kevin says Bitcoin and Ethereum are heading for strong monthly closes, with daily trend reversals and improving higher-timeframe momentum, strength and money flows suggesting the bear market bottom is already in.

While BTC remains below the 2-day 200 EMA/SMA and 50-week SMA, a break and hold above $85,000 would provide stronger confirmation.

The analyst remains bullish on BTC and ETH, viewing any year-end dips as potentially the last major accumulation opportunity before Bitcoin moves toward $100,000 and higher next year.

Trader Jelle sees Bitcoin at a decision point near key weekly resistance. A breakout could confirm the start of a new bull market, but until that happens, taking some profits after the past two weeks’ rally may be prudent.

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