Bitcoin, Ethereum, Dogecoin Chasing New Highs But XRP Dwindling: 'Weekend Probably Gives Alts Breathing Room,' Trader Says
Cryptocurrency markets are surging on the last trading day before the presidential inauguration. CryptocurrencyPrice Gains +/-Bitcoin BTC/USD$105,607.81+5.6%Ethereum ETH/USD$3,426.67+2.8%Solana SOL/USD$216.86+1.7%XRP XRP/USD$3.24-4%Dogecoin DOGE/USD$0.4148+7.6%Shiba Inu SHIB/USD$0.00002403+7.5%Notable Statistics: IntoTheBlock data shows large transaction volume increasing by 6.4% and daily active addresses falling by 2.9%. Transactions greater than $100,000 are up from 11,601 to 12,233 in a single day. Exchanges netflows are down by 268%. Coinglass data reports 94,646 traders were liquidated in the past 24 hours for $285.01 million. Notable Developments: 2025 To See Dogecoin ETF, Strategic Bitcoin Reserve, ‘MicroStrategy Of Ethereum,’ Predicts Crypto Hedge Fund EXCLUSIVE: How Donald Trump’s Crypto Plans Will Impact Bitcoin, XRP, Solana Bitcoin Miners Consolidate Power: 12 Firms Now Control 30% Of Network Hash Rate Top Gainers: CryptocurrencyPrice Gains +/-SPX6900 SPX/USD$1.48+43.1%OKB OKB/USD$57.26+15.3%THORChain RUNE/USD$4.04+14.4%Trader Notes: Bitcoin has reached the $105,000 mark, fueled by speculation that President-elect Donald Trump may announce a “Strategic” Bitcoin Reserve. Economist Peter Schiff expressed concerns, hoping Trump won't compromise the country’s integrity just to benefit Bitcoin donors. He warns that such a reserve could lead to higher inflation and a weaker economy. Crypto chart analyst Ali Martinez pointed out that Bitcoin has broken out of a cup-and-handle pattern, suggesting a potential upside target of $276,400. Crypto trader Stoic observed that Bitcoin has reclaimed a key level from the Dec. 18 sell-off, now 5% above the HTF range value. He believes that if Bitcoin stabilizes, altcoins could have room to perform over the weekend. Crypto trader Jelle highlighted a spot-driven rally that breached a key level, signaling strong momentum. He predicts that if Bitcoin closes the day around $104,738, the path will be clear for new all-time highs. Level breached on a spot-driven rally.Just what I like to see.Very little resistance left — close the day anywhere around these levels and new all-time highs will come very, very soon.#Bitcoin pic.twitter.com/kAhrPCMa9x— Jelle (@CryptoJelleNL) January 17, 2025Read Next: Bitcoin ETFs Outperform In First Year, But Solana, XRP ETFs Face Challenges, Expert Says Image: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.