Bitcoin, Ethereum, XRP, Dogecoin Extend Pullback But Traders Call It 'Just A Breather'

Cryptocurrency markets are trading lower early Friday morning, extending their downtrend after inflation data released on Thursday.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction decreased by 6% and grew 1.9%, respectively in a single day. Daily active addresses grew 9.4% and dropped 1.5%, respectively.
• Coinglass data shows 195,979 traders were liquidated in the past 24 hours for $ $941.23 million.   
• SoSoValue data shows net inflows of $230.9 million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $639.6 million. 

Trader Notes: Crypto trader CW pointed to a large Bitcoin buy wall near $117,000, which he expects to act as strong support.

Degen Hardy described the current pullback as "just taking a breather" after BTC's new high, noting it remains within range.

On the other hand, Jelle observed a rebound after a partial CME gap fill, saying a move back above $120,000 could shift attention away from PPI data and lift prices higher, until then, altcoins are likely to lead.

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For Ethereum, Daan Crypto Trades highlighted its proximity to the 2021 ATH after breaking out of the $2,800–$4,000 range last week. Levels above $4,000–$4,100 are considered bullish as long as the broader uptrend holds.

Dark Defender said XRP's ABC correction is nearly complete, with upside targets at $3.33, $4.36, $5.85, and $10.47, while support lies at $3.00, $2.85, and $2.64.

Crypto chart analyst Ali Martinez forecast a final "buy-the-dip" opportunity before aiming for $360.

AltcoinGordon noted Dogecoin's consolidation phase could precede a strong breakout, expecting it to be among the first major coins to see retail-driven surges.

Read Next:

• Bitcoin, Ethereum Tumble After Inflation Surprise

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