Bitcoin Holds $73,000, Ethereum, XRP, Dogecoin See Renewed Institutional Demand

Bitcoin is holding on to $73,000 amid strong institutional demand as liquidations stand at $472.88 million over the past 24 hours.  

Bitcoin ETFs saw $155.2 million in net inflows on Wednesday, while Ethereum ETFs reported $130 million in net inflows.  

The meme coin sector also rose 0.9% to $32.8 billion.

Trader Commentary: Trader Jelle noted that Bitcoin is still following a structure like the 2022 bear market pattern. If that analogy holds, the market could see one more downward move before a sustained recovery.

Degen Hardy believes Bitcoin invalidated a bear pennant but may now be forming a bear flag. He still views the overall structure cautiously and wants stronger confirmation before trusting the current rally.

Crypto chart analyst Ali Martinez pointed out that Ethereum is currently trading near a key level on the MVRV Pricing Bands, a zone that historically aligns with market bottoms, suggesting ETH could be undervalued or near a cyclical low.

For Solana, Martinez highlighted $115.04 as the next major resistance if price breaks and holds above $85.55.

Crypto Tony said XRP needs to reclaim $1.466 to confirm bullish momentum and open the door for further upside.

Trader Tardigrade noted that Dogecoin has broken upward from a symmetrical triangle on the daily chart, potentially signalling the start of stronger bullish momentum.

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