Bitcoin Flat At $70,000 As ‘Friday Effect’ Weighs On Ethereum, XRP, Dogecoin

Bitcoin traded sideway on Friday, with broader crypto markets showing little momentum despite ongoing regulatory developments.

Notable Statistics:

• Coinglass data shows 80,653 traders were liquidated in the past 24 hours for $197.42 million.
• SoSoValue data shows net outflows of $90.2 million from spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net outflows of $136.4 million.
• In the past 24 hours, top losers include River, MemeCore and Stable.

Notable Developments:

• Ethereum Entered ‘Generational Buy Zone,’ Says Analyst: ‘Precursor To Massive Structural Bull Rallies’
• Coinbase Launches 24/7 Stock Trading For Tesla, Apple, Nvidia With 10X Leverage
• Gemini, Winklevoss Twins Sued By Investors For ‘False’ IPO Claims, Operational Shifts — Crypto Exchange’s Q4 Loss Deepens
• Michael Saylor Makes A Bitcoin Retirement Plan Possible If You’re Willing To Risk It
• Bitcoin Does What It Did In Past Bear Markets, Analyst Warns: New Lows Ahead?
• Morgan Stanley’s Bitcoin ETF Sets MSBT Ticker As BTC Tests $70,000 Support
• Bitcoin Back To $70,000: Here’s The Key Level To Watch To Tell BTC’s Next Move

Trader Notes:  Daan Crypto Trades noted Bitcoin has recently shown a pattern of weak and volatile Friday performance, likely driven by reduced participation from large players and risk-off positioning ahead of the weekend.

He added that traders often avoid holding positions into weekends due to uncertainty and the risk of negative headlines.

Despite a broader downturn in traditional markets, Bitcoin has remained relatively stable so far.

Trader IncomeSharks said Bitcoin continues to follow its February structure, with key levels holding as expected. He noted that lingering skepticism may create better trading conditions, as the market is not overly crowded or euphoric.

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