Bitcoin Holds Steady While Ethereum, XRP, Dogecoin Dip Ahead Of Fed Chair Powell's Speech

Cryptocurrency markets are trading sideways on Tuesday morning, with Bitcoin notably outperforming altcoins again.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 121.9% and 60.7%, respectively. Daily active addresses grew 14.7% and 11.1%, respectively.
• Coinglass data shows 161,559 traders were liquidated in the past 24 hours for $584.94 million.
• SoSoValue data shows net outflows of $131.4 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net inflows of $296.6 million.

Trader Notes: Crypto chart analyst Ali Martinez says Bitcoin could be setting up for a run to $131,200, provided it holds $117,400 as strong support.

More Crypto Online notes that Bitcoin dominance has risen, facing resistance around 61.72%–63.16%, which helps explain the recent softness across altcoins.

Michael van de Poppe highlights that Ethereum has pulled back to $3,650, but hasn’t seen any major liquidity flush. He expects a consolidation phase, warning that a deeper correction is still on the table.

Pentoshi sees Solana gearing up for a major move from its current support/resistance flip, which may serve as a launchpad.

For XRP, GalaxyBTC compares XRP's current rally to its 2017 three-wave structure, stating we're still in Wave 1 near the old all-time highs. The next wave could lead to price discovery.

After a strong run, Galaxy sees this phase as a healthy consolidation and is watching to see where DOGE goes in its new cycle.

Read Next:

• Trader Who Called Bitcoin, Ethereum, Solana Bottom In April Now Warns Local Top Likely In August

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