Bitcoin, Ethereum, XRP, Dogecoin Edge Higher, Weekend 'Pump' Hinges On Daily Close, Trader Says

Author: Khyathi Dalal | January 24, 2025 04:22pm

Cryptocurrency markets are trading marginally higher on Friday after President Trump’s crypto executive order on Thursday.

Cryptocurrency	Price	Gains +/-
Bitcoin (CRYPTO: BTC)	$105,111.01	-0.2%
Ethereum (CRYPTO: ETH)	$3,338.66	+1.9%
Solana (CRYPTO: SOL)	$258.79	+1%
XRP (CRYPTO: XRP)	$3.12	-1%
Dogecoin (CRYPTO: DOGE)	$0.3543	-0.3%
Shiba Inu (CRYPTO: SHIB)	$0.00002006	-0.4%

Notable Statistics:

• IntoTheBlock data shows large transaction volume increased by 6.5% and daily active addresses falling by 0.09%. Transactions greater than $100,000 are up from 12,074 to 12,880 in a single day. Exchanges netflows are up by 36.1%.
• Coinglass data reports 98,661 traders were liquidated in the past 24 hours for $232.44 million.
• Glassnode data shows Bitcoin dominance at 57%, after being at 54% in December.

Notable Developments:

• Peter Schiff: Trump’s Crypto Order Is An ‘Easy Way To Pay Off Donors’
• Here’s What Donald Trump’s ‘Crypto Czar’ Will Now Work On
• Forget Worrying About Bitcoin Going Down 50%, There’s Now A ‘Protected Bitcoin ETF’ With Money-Back Guarantee
• MicroStrategy Devotee Semler Scientific Doubles Down On Bitcoin Buys

Top Gainers:

Cryptocurrency	Price	Gains +/-
KuCoin Token (CRYPTO: KCS)	$13.57	+13.7%
Lido DAO (CRYPTO: LDO)	$2.00	+13.4%
GateToken (CRYPTO: GT)	$24.85	+10.3%

Trader Notes: With Bitcoin prices trending higher, crypto trader Nebraskangooner sees bullish potential at current levels.

A daily close at or above current prices could signal a strong move this weekend, though the situation remains fluid.

The daily close in 6 hours will offer clearer insights into whether Bitcoin will pump or stay range-bound.

More Crypto Online highlighted that Bitcoin hasn't confirmed a decisive breakout but is showing upward momentum.

A 1-2 upside setup appears to be forming, though the bearish yellow scenario remains on the table.

To validate the bullish white scenario, Bitcoin must hold above $103,270 moving forward.

$BTC: This is not a decisive upside breakout yet but the price seems to be motivated to move higher. I am now watching for a 1-2 setup to the upside but I cannot fully rule out the yellow scenario yet. The white scenario should hold above $103,270 from now on.#Bitcoin pic.twitter.com/EDunT3wZS7

— More Crypto Online (@Morecryptoonl) January 24, 2025

Additionally, Pentoshi reflected on crypto's past as a once-in-a-lifetime opportunity for those who played it right.

While newcomers may no longer be early, opportunities still exist—albeit less widespread—especially in Real World Assets (RWA) and genuine AI projects.

Pentoshi believes the rapid evolution of crypto continues to signal profound change, even if progress takes longer than expected.

Read Next: 

• Coinbase CEO Brian Armstrong Says Bitcoin Is ‘A Better Form Of Money’

Image: Shutterstock

Posted In: $BTC $DOGE $ETH $GT $KCS $LDO $SHIB $SOL $XRP