Bitcoin, Ethereum, XRP, Dogecoin Bounce Back As 'Crypto Week' Is Underway

Cryptocurrency markets are trading higher on Tuesday, with ‘crypto week’ expected to see two crypto bills passing the House of Representatives.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 5.8% and declined by 5.9%, respectively. Daily active addresses declined 8% and 0.05%, respectively.
• Coinglass data shows 107,124 traders were liquidated in the past 24 hours for $358.16 million.
• SoSoValue data shows net inflows of $402.9 million into spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $192.3 million.
• Glassnode data noted that US Bitcoin ETFs reported one of the biggest daily inflows in three months, with 7,500 BTC added. On Tuesday, institutions didn't pull back but instead increased their exposure, adding another 3,400 BTC. Outflows across all ETFs stayed near zero, signalling strong institutional conviction.

Trader Notes: Crypto trader Moustache aka El Crypto Prof pointed out that in past cycles, Bitcoin followed a long-term trendline before erupting into price discovery.

In this cycle, the explosive move has yet to materialize, implying the real expansion phase could be imminent and catch many off guard.