Bitcoin, Ethereum, Dogecoin Recover From Mid-Day Slump, Close Day Strong On Powell's 'Digital Gold' Remarks
Bitcoin, Ethereum, Dogecoin Recover From Mid-Day Slump, Close Day Strong On Powell's 'Digital Gold' RemarCryptocurrency markets are trading higher on Wednesday, bolstered by Federal Reserve Chair Jerome Powell calling it “digital gold.” CryptocurrencyPrice Gains +/-Bitcoin BTC/USD$97,718+1.6%Ethereum ETH/USD$3,838+6.0%Solana SOL/USD$230.86-3.2%Dogecoin DOGE/USD$0.4222+2.2%Shiba Inu SHIB/USD$0.00003057 +6.2%Notable Statistics: IntoTheBlock data shows large transaction volume decreasing by 10% and daily active addresses down by 0.3%. Transactions greater than $100,000 are up from 12,355 to 13,081 in a single day. Exchanges netflows are up by 89.6%. Coinglass data reports 164,631 traders were liquidated in the past 24 hours for $419.58 million. Crypto chart analyst Ali Martinez noted that around 400 new Bitcoin whales have joined the network in the last two weeks. Notable Developments: Vladimir Putin Says ‘Nobody Can Ban Bitcoin,’ Stresses Crypto Will Develop ‘One Way Or The Other’ Telegram-Related TON Crypto Secures $20 Million Raise From Pantera Capital, Down 13% From All-Time High NYC Mayor Eric Adams Takes Victory Lap: ‘Remember Y’All Laughed When I First Got My Bitcoin? Who’s Laughing Now?’ Bitcoin, Ethereum ETFs Recorded Over $800 Million In Inflows On Tuesday Michael Saylor Says Microsoft Could Add $4 Trillion In Valuation By Investing In Bitcoin Top Gainers: CryptocurrencyPrice Gains +/-The Sandbox SAND/USD $1.04+36.6%Curve DAO Token CRV/USD $1.14+33.3%Mantle MNT/USD $1.12+26.3%Trader Notes: With Bitcoin prices trading higher, crypto trader Rekt Capital emphasizes the importance of the crypto king closing above $97,000 to confirm a breakout and revisit $100,000. Crypto trader Javon Marks notes Bitcoin following a near-textbook bullish pattern, targeting a 20.1% gain with a price goal of $116,652. Crypto Wizardd predicts a potential "giga liquidation event," with a sell-off pushing prices to $65,000 before recovering to a range of $115,000–$120,000. He views $120,000 as Bitcoin’s peak, with possible consolidation between $90,000–$110,000. The trader forecasts the bull cycle could end by April/May 2025, with an altcoin season likely starting in Q1 2025. Read Next: Bitcoin Surge Powers Riot, Marathon Into Golden Cross Territory: Are Crypto Bulls Back? Image: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.