Bitcoin Slips Below $117,000 On Whale Selling, Ethereum, XRP Hold Steady
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The cryptocurrency market is seeing a modest pullback on Friday, with Bitcoin breaking below the $117,000 level, caused by an uptick in whale selloffs.
|
Cryptocurrency |
Ticker |
Price |
|
Bitcoin |
(CRYPTO: BTC) |
$116,634.79 |
|
Ethereum |
(CRYPTO: ETH) |
$3,730.88 |
|
Solana |
(CRYPTO: SOL) |
$181.14 |
|
XRP |
(CRYPTO: XRP) |
$3.13 |
|
Dogecoin |
(CRYPTO: DOGE) |
$0.2325 |
|
Shiba Inu |
(CRYPTO: SHIB) |
$0.00001369 |
Notable Statistics:
-
IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 5.8% and 5.1%, respectively. Daily active addresses decreased 6% and grew 3.5%, respectively.
-
Coinglass data shows 141,129 traders were liquidated in the past 24 hours for $534.38 million.
-
SoSoValue data shows net intflows of $226.6 million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $231.2 million.
Trader Notes: Bitcoin is under pressure, slipping below $117,000, but traders are closely watching the $115,000 level where spot buyers are beginning to absorb sell pressure, according to crypto trader Skew.
He notes that a short squeeze may follow if BTC consolidates near $117,000 and short positions build up.
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BitBull predicts Bitcoin could drop as low as $111,000–$112,000, citing a missing breakout retest after its all-time high rally.
The current correction, he says, echoes Q1's price action, where a sharp rally was followed by a cooling-off period, a setup that could lead to a strong continuation higher after the short-term dip.
Ethereum shows signs of strength with two potential bullish trajectories, according to CryptoWolf.
The conservative scenario targets $8,000, while a more aggressive path eye $13,000+.
In both cases, he expects a 20%–25% correction post-All-time high to serve as a final shakeout before ETH's explosive Q4 rally.
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