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.
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