Zinger Key Points
- Global crypto market capitalization climbs 4.4% to $3.68 trillion
- Traders eye $120,000 as Bitcoin hovers near key liquidity zone around $111,000.
- PPI and Industrial Production drop Wednesday morning — see how Matt Maley is trading the reaction, live at 6 PM ET.
Cryptocurrency markets are surging on Friday, with Bitcoin’s run clearing the way for an altcoin rally.
| Cryptocurrency | Ticker | Price |
| Bitcoin | BTC/USD | $117,539.23 |
| Ethereum | ETH/USD | $2,991.09 |
| Solana | SOL/USD | $164.03 |
| XRP | XRP/USD | $2.81 |
| Dogecoin | DOGE/USD | $0.2121 |
| Shiba Inu | SHIB/USD | $0.00001376 |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 50.5% and daily active addresses growing by 9.1%. Transactions greater than $100,000 are up from 11,403 to 14,533 in a single day. Exchanges netflows are up by 373.6%.
- Coinglass data reports 273,588 traders were liquidated in the past 24 hours for $1.26 billion.
- The top gainers in the past 24 hours include MemeCore (CRYPTO: M), Story IP/USD and Stellar XLM/USD.
Notable Developments:
- Bitcoin Hits Dollar All-Time High, But Trails In Euro, Swiss Franc: Dollar What’s Driving The Divergence?
- Bitcoin’s All-Time High Break Means Volatility Could Soon Return: Report
- Tom Lee: Ethereum, Not Solana, Is The ‘Preferred Choice’ For JP Morgan, Robinhood, Circle To Build On
- GameStop-Themed Crypto Surges Nearly 40% As Bitcoin Highs Fuel Frenzy
- Bit Origin Shares Surge 75% Pre-Market As Bitcoin Rallies Past $118,000
Trader Notes: Carl Moon noted that a large liquidity pool remains around $111,000, which could serve as a short-term magnet.
Crypto Jelle used the "Power of Three" setup to forecast a broader target of $140,000, noting that BTC is now clearly trending upward.
Titan of Crypto pointed out that Bitcoin has never ended a bull cycle without breaking above the Power Law Corridor, which currently sits at $118,500, a potential breakout trigger if history rhymes.
The Cryptomist added that BTC is forming a falling wedge on lower timeframes, a classic bullish reversal pattern. A breakout from this could target $123,000–$125,000 before a consolidation phase.
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