Bitcoin Climbs Back Above $91K While Meme Coins Fight to Hold Ground
MarketDash
Bitcoin recovered to the $91,000 level Thursday morning after a volatile 24 hours that saw over $605 million in liquidations hit more than 170,000 traders. Meanwhile, the meme coin sector is struggling to maintain its $50 billion valuation.
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Bitcoin (BTC) staged a comeback Thursday morning, climbing back above $91,000 after a brutal stretch that saw $605.9 million in liquidations wipe out 170,298 traders over the past 24 hours. Nothing says crypto volatility quite like six hundred million in forced selling hitting the market.
The spot ETF flows told an interesting story on Wednesday. Bitcoin products pulled in $75.5 million in net inflows, while Ethereum (ETH) ETFs hemorrhaged $37.4 million in net outflows. Clearly, investors are picking their horses differently right now.
NVIDIA Earnings Give Crypto a Lift
Michael van de Poppe pointed out that Bitcoin dominance remains strong, and if that strength continues over the coming weeks, it would support the idea that we're not sliding into bear market territory just yet.
Daan Crypto Trades connected the dots between Bitcoin's bounce and NVIDIA's stellar earnings report, which lifted risk assets across the board. But here's the catch: bulls now need to push price high enough to actually break the local downtrend. Without a confirmed trend reversal, this rally risks becoming just another lower high in what could be a broader pattern of weakness.
Crypto trader Poseidon offered an optimistic take on Ethereum, noting that the longer it consolidates, the more explosive its eventual breakout could be. Patience, apparently, might pay off.
With the Bitwise XRP ETF set to begin trading on the NYSE tomorrow, analyst Ali Martinez flagged something noteworthy: whales dumped 190 million XRP tokens in the past 24 hours. That's either profit-taking before the big debut or a concerning vote of no confidence.
The meme coin sector isn't having a great time. It slipped 2.2% in a single day and is now fighting tooth and nail to maintain its $50 billion valuation. That's a lot of speculative capital trying to hold the line.
Trader Tardigrade highlighted something intriguing about Dogecoin (DOGE): its daily MACD is tightening in a pattern that mirrors the setup from February to April last year. Back then, DOGE broke out of a triangle pattern and surged from $0.145 to $0.30. Whether history repeats itself remains to be seen, but the technical setup has traders paying attention.
