Bitcoin, Ethereum, XRP, Dogecoin Slide Into Red As Q1 GDP Slides Into Contraction
Cryptocurrency markets turned red on Wednesday as rising recession fears in the U.S. weighed on risk assets.CryptocurrencyPrice Gains +/-Bitcoin BTC/USD$94,087.28-1.4%Ethereum ETH/USD$1,786.44-2.1%Solana SOL/USD$145.61-2.8%XRP XRP/USD$2.18-4.7%Dogecoin DOGE/USD$0.1714-4.2%Shiba Inu SHIB/USD$0.00001320 -3.7%Notable Statistics:IntoTheBlock data shows large transaction volume increasing by 3.5% and daily active addresses falling by 10.1%. Transactions greater than $100,000 are down from 10,589 to 10,199 in a single day. Exchanges netflows are down by 407.8%. Coinglass data reports 162,816 traders were liquidated in the past 24 hours for $380.67 million. Crypto chart analyst Ali Martinez noted that capital inflows into the crypto market spiked from $1.5 billion to $15 billion in ten days. In another X post, Martinez highlighted the Bitcoin Accumulation Trend Score being close to 1, implying larger entities, or a significant portion of the network, actively accumulating. Notable Developments:Eric Trump Advocates For Crypto, Says Banks Need To Evolve Or Face Irrelevance Inside Donald Trump’s Plan To Become The ‘Bitcoin Superpower’ PayPal CEO Says ‘Moving Quickly’ To Bring Crypto, Stablecoin Benefits To Users — Fintech Giant Partners With Coinbase To Boost Solana-based PYUSD Bitcoin Betters Stocks In Uncertain World, Says Xapo Bank CEO: ‘Nobody Can Print More Of It’ Bitcoin To Hit $150,000 By October, Says DYDX’s Charles d’Haussy Top Losers:CryptocurrencyPrice Gains +/-Pudgy Penguins PENGU/USD$0.01060-8.6%Virtuals Protocol VIRTUAL/USD $1.33-8.3%Bonk BONK/USD$0.00001902-7.9%Trader Notes: Crypto trader Kaleo highlighted that Bitcoin has just set a new all-time high relative to the Nasdaq, breaking above its 2021 peak. BTC is now consolidating near those levels, a bullish sign suggesting it's primed for another breakout. Momentum favors further upside, and this looks like the start of a major outperformance leg, Kaleo noted.More Crypto Online offered a technical perspective, observing that Bitcoin remains in consolidation. The current structure resembles a wave B correction, which typically precedes a stronger wave C move to the upside.A minor final dip within wave B would be “healthy,” with the broader setup still leaning bullish as long as key support holds.Meanwhile, Titan of Crypto noted Bitcoin is tightly range-bound between $92,800 and $95,800, awaiting a decisive move.Despite the lack of a breakout, the steadily rising Tenkan line (a key Ichimoku indicator) reflects increasing buyer strength. If this trend continues, Titan says a bullish breakout is the more likely outcome.Read Next: Bitcoin Stays The Course At $95,000 But Recession Fears Linger Image: ShutterstockMarket News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.