Bitcoin Eyes $70,000 As Ethereum Reclaims $2,000 And XRP, Dogecoin Rally

Bitcoin surged about 7% over the past 24 hours, buoyed by strong institutional ETF inflows and renewed risk-on sentiment.

Notable Statistics:

• Coinglass data shows 117,088 traders were liquidated in the past 24 hours for $466.40 million.
• SoSoValue data shows net inflows of $257.7 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $9.2 million.
• In the past 24 hours, top gainers include Polkadot, Filecoin and Aptos.

Notable Developments:

• Bitcoin Searches Surge As Price Halves — Crypto ETFs Face Their First Real Stress Test
• Bitcoin Jumps 5% To $66,000: What Is Going On?
• Strategy’s The Most Shorted US Stock: Who’s Behind The Massive Position?
• Why Did Tether Just Invest in Whop? The CEO Says It’s ‘The Future of Internet Markets’
• Senator Blumenthal Probes Binance After $1 Billion Flowed To Iranian Terrorists
• Circle Targets 40% Annual Growth For USDC As CRCL Surges 22% After Earnings

Trader Notes: Trader Rekt Fencer said price action could frustrate both bulls and bears. He suggested a final dip toward $62,000 may draw in aggressive short sellers, setting up a potential trap.

That move, he argued, could be followed by a sharp vertical rally that squeezes shorts and catches late bears off guard.

CryptosBatman identified the $70,000–$74,000 range on the weekly chart as the key zone to monitor. The area acted as major resistance throughout much of 2024. A decisive reclaim and hold above that band would mark a structural shift and restore a bullish outlook.

Trader Jelle said Bitcoin is showing its first meaningful signs of strength since it last traded above $90,000. He highlighted the four-hour 50 exponential moving average as the next critical level.

If Bitcoin reclaims that indicator and converts it into support, he said, it would confirm that short-term momentum is turning in favour of bulls.

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