Bitcoin Surges Back To $112,000 As Ethereum, XRP, Dogecoin Rally On Fed's Crypto Payment Signals
Bitcoin surged to $114,000 following the Federal Reserve's plans to explore payment accounts for crypto firms. In the last 24 hours, 141,966 traders were liquidated, totaling $557.15 million. Notable developments include BMNR's potential breakout and Coinbase's $375M deal. Analysts suggest Bitcoin remains rangebound, with key levels at $111,200 and $116,000. A bullish sentiment prevails, but volatility is high, influenced by CPI data and U.S.-China trade relations.
Bitcoin briefly climbed to $114,000 on Tueday after the Federal Reserve revealed plans to explore payment accounts for crypto firms, potentially providing them access to Fed payment systems.
Notable Statistics:
- Coinglass data shows 141,966 traders were liquidated in the past 24 hours for $557.15 million.
- In the past 24 hours, top losers include MYX Finance (CRYPTO: MYX), Plasma (CRYPTO: XPL) and DoubleZero (CRYPTO: 2Z).
Notable Developments:
- BMNR Eyes Breakout Above $54 As BitMine Buys Over 200,000 ETH
- Bitcoin Rebounds To $113,000, ETH, XRP Up Over 2% As Gold Dips
- Coinbase Capitalizes On Trump’s Pro-Crypto Agenda With $375M Echo Deal
- XRP Hits 9-Month Sentiment Low — A Buy Opportunity?
Trader Notes: Crypto trader Jelle notes Bitcoin remains rangebound with no major changes; $150,000 remains the ultimate target.
Ted Pillows highlights $12 billion in BTC shorts could be liquidated on a 10% rally, while $6.98 billion in longs are at risk if BTC drops 10%. The market's max pain leans bullish, though CPI data and the U.S.-China trade deal will influence outcomes.
Crypto Tony reports Bitcoin was rejected at triangle resistance and is watching $111,200 for a potential entry if it holds.
Daan Crypto Trades notes Bitcoin's recent range of $107,000–$112,000.
A break above ~$116,000 could signal the end of the correction and higher levels, while a drop below $107,000 may trigger a wick fill and potentially push BTC below $100,000.
Daan concludes bulls are currently in control, but volatility remains high and sentiment is shifting quickly.
- Here’s Why You Need To Watch Bitcoin If You’re Betting On ETH, XRP
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