Cryptocurrency markets opened Wednesday on a cautious note, trading slightly lower ahead of the latest U.S. Producer Price Index (PPI) data release.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $112,219.37 |
| Ethereum | (CRYPTO: ETH) | $4,325.31 |
| Solana | (CRYPTO: SOL) | $219.19 |
| XRP | (CRYPTO: XRP) | $2.96 |
| Dogecoin | (CRYPTO: DOGE) | $0.2399 |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001289 |
Notable Statistics:
- Coinglass data shows 136,438 traders were liquidated in the past 24 hours for $256.20 million.
- SoSoValue data shows net inflows of $23.05 million into spot Bitcoin ETFs on Tuesday. Spot Ethereum ET'Fs saw net inflows of $44.2 million.
Trader Notes: Ted Pillows said BTC has slipped back into bearish consolidation, weighed down by weak spot demand and retraced pumps. He warned that hotter inflation data could push BTC to fresh monthly lows.
Michael van de Poppe added that a breakout hinges on flipping resistance into support with strong volume; otherwise, it's just pressure building for another rejection.
For Ethereum, Pillows noted ETH has been range-bound for nearly two weeks, oscillating sideways between $4,500 and lower support. He advises traders to stay patient until direction is clear.
Crypto chart analyst Ali Martinez highlighted a descending triangle breakout setup. If successful, XRP could rally toward $3.60.
For Dogecoin, Martinez flagged $0.29 as a critical resistance, with a breakout paving the way toward $0.50.
Crypto trader Jelle sees Solana as one of the strongest setups in crypto right now, calling it a "hated rally" candidate with most of the market sidelined, conditions ideal for a squeeze higher.
Read Next:
- Bitcoin To Hit $135,000 By Year-End, Says Katie Stockton, But Don’t Mistake It For Gold
Image: Shutterstock
