Bitcoin, Ethereum, XRP, Dogecoin Turn Higher On Thursday – Strong Accumulation May Build Solid Support - Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)

Cryptocurrency markets are trading higher

Cryptocurrency	Ticker	Price
Bitcoin	BTC/USD	$116,687.42
Ethereum	ETH/USD	$3,820.98
Solana	SOL/USD	$173.00
XRP	XRP/USD	$3.08
Dogecoin	DOGE/USD	$0.2137
Shiba Inu	SHIB/USD	$0.00001266

Notable Statistics:

IntoTheBlock data shows Bitcoin and Ethereum large transactions decreased by 11.8% and 19.1%, respectively, in a single day. Daily active addresses grew 8.3% and 1.3%, respectively.
Coinglass data shows 136,367 traders were liquidated in the past 24 hours for $342.09 million.
SoSoValue data shows net outflows of $196.2 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $73.2 million.

Trader Notes: Glassnode data indicate that approximately 120,000 BTC were purchased during the recent bounce from $112,000 to $114,000, suggesting opportunistic accumulation. However, supply remains thin in the $110,000–$116,000 zone, indicating that more consistent buying is required to establish strong support.

Altcoin Sherpa remains focused on the $115,000 BTC zone, calling it a pivotal level. He anticipates continued chop until there's either a decisive breakout or breakdown. In the meantime, he expects altcoins to alternate between strong and weak days.

Still the same $BTC plan for me. 115k region is interesting and I expect more overall chop until we can clear that level (or break down from here). Guessing alts continue to have 1 good day / 1 bad day / etc. https://t.co/xd6aArRsJO pic.twitter.com/FWsWfP8dpS
— Altcoin Sherpa (@AltcoinSherpa) August 6, 2025

Crypto trader Lucky highlighted Ethereum's "serious strength," calling the chart extremely bullish and forecasting continued momentum.

Crypto chart analyst Ali Martinez noted that while Ethereum continues to struggle with resistance, a decisive move is likely ahead — though it’s unclear whether that will be a breakout, breakdown, or prolonged chop.

Ethereum $ETH: 4 consecutive rejections!

What happens next? pic.twitter.com/SYBOTMcbkT
— Ali (@ali_charts) August 7, 2025

Wise Crypto believes Solana's pullback could be short-lived. Despite a 10% weekly drop, he points to three bullish signals: exchange balances are down 10%, reducing sell pressure; Stable CME futures are showing institutional conviction; and a forming golden crossover on the daily chart.

If SOL climbs above $176, it may trigger a breakout; however, falling below $155 increases downside risk.

Cryptoinsightuk is watching XRP, expecting daily closes above $3.24 to mark a key breakout threshold, potentially leading to a strong continuation rally.

Trader Tardigrade sees Dogecoin forming a larger base, setting up for a significant bullish move. Analysts say the "larger bottom → larger pump" structure is a classic reversal signal.

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