Cryptocurrencies Bitcoin, Ethereum, And Dogecoin See Recovery Amid Bitcoin Shortage In Germany

Cryptocurrency markets rally on speculation of interest rate cut following PPI data release.

•Bitcoin BTC/USD trades at $57,825.58, up 0.6%

•Ethereum ETH/USD at $3,129.43, up 0.5%

•Solana SOL/USD rises 1.2% to $138.75

•Dogecoin DOGE/USD increases by 0.4% to $0.1076

•Shiba Inu SHIB/USD up 0.3% to $0.00001644

Key Insights:

•83% of Bitcoin holders are profitable despite volatility, with large holders holding 12% of total supply and 70% holding for over a year.

•German government reported out of Bitcoin holdings.

•40,300 traders liquidated, totaling $126.7 million in the past 24 hours.

Top Gainers:

•ORDI/USD up 8.5% to $33.56

•MKR/USD rises 6.5% to $2,498.75

•RON/USD increases by 4.9% to $2.05

Trader Notes:

•Andrew Crypto expects bullish momentum above $59,200.

•Market sentiment turns positive but doubts linger on price performance, awaiting confirmation from spot buyers.

•Kevin notes Bitcoin's recovery and Germany's depletion of its Bitcoin reserves, eyeing $60,000 break for bullish trend confirmation.

•Cryptoquant's Ki Young Ju advises leveraging like whales at cyclical bottoms.

#CPI_BTC_Watch #Ethereum_ETFs_Expected_Date #BinanceTurns7 #SOFR_Spike #enofuagreat