Bitcoin Consolidates Around $119,000 As Ethereum, XRP, Dogecoin Push Higher

Cryptocurrency markets are trading higher on Friday morning, with Dogecoin recording the biggest overnight gains.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 13.4% and 4.8%, respectively. Daily active addresses jumped 12.4% and jumped 4.5%, respectively.
• Coinglass data shows 177,684 traders were liquidated in the past 24 hours for $822.87 million.
• SoSoValue data shows net inflows of $522.6 million into spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net inflows of $602 million.

Trader Notes: Crypto chart analyst Ali Martinez highlighted that traders are heavily shorting Bitcoin, creating a major liquidation wall at $121,500, which could act as a barrier to upward momentum.

More Crypto Online noted that Bitcoin is still tracking within its expected pattern. One more dip remains possible, but as long as $116,660 holds, the preferred outlook is a continuation higher.

Crypto trader CJ warned of a possible Ethereum reversal, pointing to a divergence between ETH and BTC.

If Bitcoin begins to sell off and confirms this divergence, it could mark a local top, a signal he's watching closely. Altcoins still show momentum, but caution is advised.

On Solana, crypto trader Jelle said the coin is smashing into key resistance at $180.

A decisive break above $200 would open the door for a much bigger move upward. He labeled $200 as the final major level for bears to defend.

GalaxyBTC called out XRP's continuous surge, noting there's no more resistance overhead and predicting "historic times ahead" for the token.

Galaxy also observed that Dogecoin has completed its breakout and retest, suggesting a strong setup for outperformance in the near term.

Read Next:

• Bitcoin’s 4-Year Cycle Is Dead, Researcher Says: Here’s Why It Matters For XRP

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