Bitcoin, Ethereum, Dogecoin Go Sideways, But 'Market Structure Back To Bullish,' Says Trader
Cryptocurrency markets are trading slightly down, as members of the Biden administration will reportedly attend a crypto roundtable. CryptocurrencyPriceGains +/-Bitcoin BTC/USD$66,286.62-0.3%Ethereum ETH/USD$3,528.34 -1.9%Solana SOL/USD$143.05-3.8%Dogecoin DOGE/USD$0.1315 -3.4%Shiba Inu SHIB/USD$0.00001952 -6.6%Notable Statistics: Australia's largest stock exchange approved its first Spot Bitcoin ETF. Tether, the world’s largest stablecoin, launches a new synthetic dollar backed by gold. IntoTheBlock data notes an increase in total exchange inflows and outflows. 90% of Bitcoin holders are in profit at current prices. According to Coinglass data, 111,242 traders were liquidated for $265.50 million in the past 24 hours. Notable Developments: T-Mobile’s parent company, Deutsche Telekom, announces plans to mine Bitcoin. El Salvador’s President Bukele Proposes Bitcoin Bank To Attract Billions Spot Ethereum ETF Launch Date Possibly On July 2: Bloomberg Analyst Biden Admin Officials, Mark Cuban To Attend Crypto Roundtable In July Why Bitcoin Faces A ‘Critical Week Ahead’ Top Losers: CryptocurrencyPriceGains +/–zkSync ZK/USD$0.2144-25.3%Notcoin NOT/USD$0.01728-14.4%Injective INJ/USD$21.81 -12.6%Trader Notes: Crypto trader Jelle sees a higher high forming for Bitcoin. Well, well, well.#Bitcoin making a higher high & going for the reclaim.Market structure back to bullish – hold above $66,500 from here and we can send this back to the highs. 🙏🏻 pic.twitter.com/MyClRRjcIl— Jelle (@CryptoJelleNL) June 17, 2024Crypto trader DonAlt highlighted that $60,000 is bad support and $70,000 is bad resistance. He suggested that if you are bullish then $65,000 is the spot to hold, adding "If you’re bearish you’d want it to fail first." CrypNuevo highlighted a potential W pattern for Bitcoin, $BTC update:Wick filled, strong bounce, potential W pattern 🔨My last requirement is to recover the daily 50EMA (closing a 1D candle above it).At that point, it's when I'll have high conviction on retracing the imbalances to the upside.Hope you find the updates helpful🤝 pic.twitter.com/W3iUHdevo7— CrypNuevo 🔨 (@CrypNuevo) June 17, 2024Notable crypto trader TheFlowHorse tweeted that a bear trap is potentially building, saying, "if you prefer more volume and liquidity just log back in after Labor Day." What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19. Read Next: Dogecoin, Shiba Inu, Floki Are ‘Dino Coins,’ Says Trader: He Likes These 3 Other Meme Coins As ‘Blue Chips’ Image: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.