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Bitcoin was trading around $68,000 on Thursday morning after a volatile stretch that erased post-election gains. Liquidations totaled $338.20 million over the past 24 hours.
Bitcoin exchange-traded funds recorded $276.3 million in net outflows on Wednesday. Ethereum ETFs reported $129.18 million in net outflows.
The meme coin sector rose 2.1% to $33.6 billion following a broader crypto rebound.
Jelle said that even if the move does not represent the ultimate bottom, markets often provide time to accumulate. He highlighted “basing behavior” combined with early bullish structure as the key signal to watch, rather than relying on a sharp bounce alone.
Ali Martinez noted that Bitcoin has historically formed cycle bottoms below its 1,130-day simple moving average, which is currently around $66,500 and closely watched by long-term participants.
CryptoBusy pointed to Ethereum’s long-term support zone, saying a strong weekly close below $1,900 would weaken the broader structure and could open downside toward $1,600 and possibly $1,300.
CryptoBully said Solana’s failed attempt to reclaim strength after bouncing in the $70s leaves it trading below $90 without a clear momentum shift. He added that unless SOL reclaims $100 and confirms a trend reversal, the broader trend remains bearish, with a breakdown of recent lows potentially exposing a move toward the low $60s.
Bitcoinsensus said Dogecoin is sitting on a key historical support level: a multi-year trendline dating back to 2017 that may act as a major defense zone.
Ali Martinez also said Shiba Inu appears to be breaking out of its current price channel, potentially setting up upside momentum toward $0.00000138.
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