Bitcoin Slides To $115,000, Ethereum, XRP, Dogecoin Attempt Bounce On Rate Cut Hopes

Cryptocurrency markets are down on Friday morning but rebounding after a weak jobs report sparked hopes for a September rate cut by the Federal Reserve.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 8.6% and dropped 6.5%, respectively. Daily active addresses moved higher by 5.3% and decreased 0.1%, respectively.
• Coinglass data shows 184,797 traders were liquidated in the past 24 hours for $758.65 million.
• SoSoValue data shows net outtflows of $114.8 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $17 million.

Trader Notes: Stockmoney Lizards observed that Bitcoin has partially filled its fair value gap and has begun building a trading position in the $114,000–$115,000 zone. While it’s uncertain if the pullback has concluded, this level is seen as a strategic entry point.

Ted Pillows noted that Bitcoin has returned to its range low and currently looks weak. However, he remains long-term bullish, expecting strength to return in the coming months. For Ethereum, he identified key liquidity zones at $3,500 and $4,000, suggesting a potential liquidity sweep before a move upward toward $4,000.

Michael van de Poppe called Ethereum's ongoing correction normal and projected it could extend to around $4,100 before resuming its uptrend.

Crypto Tony pointed out XRP's current dip as part of a broader market pullback, emphasizing that bulls must defend the $2.60 level to preserve short-term upside momentum.

Degen Hardy exited his Solana long trade at a slight loss due to heavy liquidation pressure. He now watches the $140–$150 range as a potential re-entry zone, highlighting more than $100 billion in liquidation levels below current price.

Trader Tardigrade observed a long-term channel formation on Dogecoin that may pave the way for renewed bullish momentum in the meme coin's next leg higher.

Read Next:

• Bitcoin Consolidates After FOMC Meeting: What Does Powell’s Decision Mean For ETH, XRP, Dogecoin?

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