2025-03-06 20:02:35 by Benzinga

Cryptocurrency markets are trading mostly sideways on Thursday as the Texas Senate passed a strategic Bitcoin reserve bill, which now advances to the House. CryptocurrencyPrice   Gains +/-Bitcoin BTC/USD$88,486.05-1.5%Ethereum ETH/USD$2,200.97-0.7%Solana SOL/USD$143.60-0.96%XRP XRP/USD$2.58+3.4%Dogecoin DOGE/USD$0.2006-1.5%Shiba Inu SHIB/USD$0.00001327+0.02%Notable Statistics: IntoTheBlock data shows large transaction volume decreasing by 7.6% and daily active addresses falling by 0.9%. Transactions greater than $100,000 are down from 11,748 to 10,490 in a single day. Exchanges netflows are down by 11%. Coinglass data reports 97,723 traders were liquidated in the past 24 hours for $281.31 million. Crypto chart analyst Ali Martinez noted around 4,375 new wallets holding more than 1 BTC were created over the past two weeks. IntoTheBlock data shows traders have expressed conviction in Bitcoin withdrawing around $900 million worth BTC from exchanges over past seven days. Notable Developments: Microsoft May Have Given Bitcoin Investments A Miss But A Large MSFT Stock Holder Is A Strong Crypto, Blockchain Advocate Bitcoin, Ethereum, Solana, Stablecoins Or No Crypto In 2025: Here’s What Readers Choose Solana Co-Founder Says A Federally Controlled Crypto Reserve Will Harm Decentralization Ethos, Proposes States Control Their Own Reserves BioNexus Stock Pops As It Embraces Ethereum-Focused Treasury Strategy, Says It Is First On Nasdaq To Do So Top Gainers: CryptocurrencyPrice   Gains +/-Movement MOVE/USD $0.4768+15.8%Cronos CRO/USD $0.08841+12.2%Sui SUI/USD $2.81+7.5%Trader Notes: Crypto trader Kevin reposts the 3-Day MACD chart on red days to remind traders that the market is still in a correction phase. Based on historical trends, he expects it to resolve between late March and late April and advises patience. I make sure re post the this chart of the 3 day MACD on red days to remind people that yes we're still in a correctional phase of the market and it's going to take time for it to resolve. Likely between the end of March to end of April time frame based on average days. Just take… https://t.co/4yHPObyxC6— Kevin (@Kev_Capital_TA) March 6, 2025 Crypto chart analyst Ali Martinez highlighted that Bitcoin, Ethereum and Solana have been moving in close sync over the past two weeks, suggesting a strong correlation in price action. Altstreet Bets warned that if Bitcoin fails to close above $95,000 on the weekly chart, it's ‘actually over.' He added that the upcoming White House crypto summit could be the last chance for bulls to prove themselves. #BTC , If bulls are not able to close it above 95k on weekly then its actually over. Tomorrow event is one last chance for bulls to prove themselves or GTFO. pic.twitter.com/GKUnEhlPN1— ᴀʟᴛꜱᴛʀᴇᴇᴛ ʙᴇᴛꜱ (@AltstreetBet) March 6, 2025 Read Next:  If The US Government Had Held The 195,000 Bitcoin It Sold Over Time, Here’s How Much It Would Be Worth Now Image: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.