Bitcoin, Ethereum, XRP, Dogecoin Dip, But Traders Remain Optimistic For One Reason

Major cryptocurrencies are in the red as macro uncertainty and trade war tensions weigh on sentiment.

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 28.6% and daily active addresses growing by 19%. Transactions greater than $100,000 are up from 7,162 to 9,856  in a single day. Exchanges netflows are up by 2,416.8%.
• Coinglass data reports 89,194 traders were liquidated in the past 24 hours for $177.86 million.

Notable Developments:

Top Gainers:

Trader Notes: Crypto trader Blockchainedbb highlighted that Bitcoin has cleanly navigated through key price ranges, first from $76,000–$84,300 and now pushing through the $84,300–$86,000 zone. He sees the next short setup between $86,000 and $83,000, anticipating a possible bounce near $82,000–$83,000 before any deeper correction.

Given the strong performance of his current short positions, Blockchainedbb plans to exit around $83,000–$84,000, noting that Wednesdays often bring bullish momentum, making it risky to hold shorts mid-week.

Meanwhile, trader Roman pointed to bearish divergences on both the RSI and Stoch RSI on Bitcoin’s 1-day chart, with both indicators in overbought territory.

He warned that the recent price rally lacked momentum, suggesting that Bitcoin could retrace toward local lows soon.

Benjamin Cowen drew attention to Bitcoin dominance, calling it a key driver of the next crypto cycle. Cowen described it as the “key to unlocking the cryptoverse.”

Ted Pillows pointed out that China’s M2 money supply has reached a record ¥326 trillion ($44 trillion), nearly double the U.S. supply. He emphasized that even a small fraction of this liquidity flowing into crypto could trigger a parabolic move.

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