Bitcoin, Ethereum, Dogecoin Double Down On Losses But One Indicator Gives Bulls Hope
Cryptocurrency markets are trading lower in Tuesday as markets continue their correction. CryptocurrencyPrice Gains +/-Bitcoin BTC/USD $96,035.77-0.97%Ethereum ETH/USD $3,639.93-3.9%Solana SOL/USD $212.60-4%Dogecoin DOGE/USD $0.3882-9.6%Shiba Inu SHIB/USD $0.00002583-11.5%Notable Statistics: IntoTheBlock data shows large transaction volume increasing by 116% and daily active addresses growing by 6.8%. Transactions greater than $100,000 are up from 9,044 to 13,121 in a single day. Exchanges netflows are down by 152.3%. Coinglass data reports 583,986 traders were liquidated in the past 24 hours for $1.76 billion. Notable Developments: US Strategic Bitcoin Reserve Would Cause Tectonic Shifts In Personal Finance, Researcher Predicts Microsoft, Amazon Investors Eye Bitcoin Investments Amid MicroStrategy’s Success Riot Platforms To Raise $525 Million Via Private Convertible Debt To Purchase Bitcoins Michael Saylor Urges US To Ditch Gold For Bitcoin: ‘Sell The Past, Own The Future’ Bitcoin Miners CleanSpark, Cipher Mining Win JPMorgan Support For Growth, Efficiency Edge Top Losers: CryptocurrencyPrice Gains +/-IOTA IOTA/USD$0.3548-19.4%Floki Inu FLOKI/USD $0.0002162-18.6%Movement MOVE/USD $0.647-18.2%Trader Notes: With Bitcoin prices dropping, crypto trader Jelle stated that whether there is volatility or not, "Tuesdays are for taking profit." He revealed reducing his crypto exposure by 1.4% today and predicts higher prices and "simply continue to scale out on the way up." In another tweet, he compared the current price action below $100,000 to the one below $20,000 in 2020. He believes that currently the market is in the second half of that structure and is curious "if it plays out the same." Providing a optimistic outlook, crypto trader Ali Martinez predicts Bitcoin to reach $275,000 based on a technical pattern. Analytics firm Santiment noted that Bitcoin dropped to as low as $94,200 on Tuesday, sparking fear and uncertainty among traders, with some predicting a further decline to $80,000-$89,000. This widespread pessimism may be a bullish signal, as market prices often move contrary to crowd expectations, suggesting fear could precede a rebound. 📉 Bitcoin has sunk as low as $94.2K Tuesday, and FUD is beginning to appear amongst traders. With some calls for $80K-$89K appearing across social media from the crowd once again, take this as a positive sign that retail capitulation is returning. Prices move the opposite… pic.twitter.com/DDw9fTGbk2— Santiment (@santimentfeed) December 10, 2024Read Next: Peter Schiff Advises Biden To Do One ‘Good Thing’ Before His Term Ends: ‘Sell All The Bitcoin’ Held By The US Image: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.