Bitcoin Taps $116,000 As Ethereum, XRP, Dogecoin Rally On ETF Buzz

Cryptocurrency markets are trading higher on Friday, with Bitcoin briefly tapping $116,000 in overnight trading.

Notable Statistics:

• Coinglass data shows 119,454 traders were liquidated in the past 24 hours for $357.99 million. 
• SoSoValue data shows net inflows of $552.8 million into spot Bitcoin ETFs on Thursday. Spot Ethereum ET'Fs saw net inflows of $113.1 million.

Trader Notes: Ted Pillows said Bitcoin has reclaimed $113,500, with $117,200 marked as the next crucial level aligning with a CME gap. A breakout could pave the way to new all-time highs, while rejection may trigger a retest of monthly lows.

Crypto Deadline highlighted that Bitcoin's chart is showing a familiar pattern, a drop, followed by a breakout, then a strong pump, with current MACD signals suggesting another rally may be forming.

Trending Crypto Products

Earn Up to 3% Back in Bitcoin and Crypto on Every Purchase You Make

Get Started

Invest Your IRA or 401(k) in Real Estate, Crypto, and More with IRA Financial.

Get Started

Crypto chart analyst Ali Martinez noted Ethereum is breaking out with momentum:

For Solana, Martinez observed that is emerging from a cup-and-handle pattern, setting $1,314.41 as its primary target

GalaxyBTC flagged that XRP shows a bullish setup, with a break above $3.30 likely confirming strong momentum

Trader Tardigrade said Dogecoin's Bollinger Band Width has reached a historic breakout level. Past moves from here saw 100%–378% gains, pointing to a $0.41–$0.97 target range.

Read Next:

• Bitcoin At A Crossroad: Why You Need To Watch $108,000 And $116,000

Image: Shutterstock