Bitcoin continues to trade in a tight range around $85,000.

CryptocurrencyTickerPrice
Bitcoin(CRYPTO: BTC)$85,515
Ethereum(CRYPTO: ETH)$2,688
Solana(CRYPTO: SOL)$120.49
XRP(CRYPTO: XRP)$1.50
Dogecoin(CRYPTO: DOGE)$0.09475
Shiba Inu(CRYPTO: SHIB)$0.09475

Notable Statistics:

  • Coinglass data shows 60,133 traders were liquidated in the past 24 hours for $ 147.51 million.       
  • SoSoValue data shows net outflows of $89.9 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net outflows of $50.8 million.
  • In the past 24 hours, top gainers Render, LayerZero and OKB.

Notable Developments:

Trader Notes:

Heavily followed cryptocurrency analyst Kevin remains bullish on Bitcoin unless it breaks through two major support zones: $83,000 to $77,000 and then $75,000 to $67,000.

He argues these areas contain significant former resistance turned support, making new lows unlikely without a complete breakdown. He added that persistent bears are either sidelined or unwilling to admit the bearish thesis was wrong.

Scott Melker highlighted Treasury withdrawing proposed rules affecting crypto mixers/privacy tools and self-hosted wallets. He views that as another important regulatory development that did not require congressional action.

Bitcoin-focused policy advocate Dennis Porter plans to expand state-level Bitcoin-rights legislation protecting self-custody, node operation and buying/selling BTC, while increasing education and outreach to Democratic lawmakers.

He sees digital dollars as one of the easiest crypto technologies to sell politically because they offer low volatility, faster settlement, lower transaction costs and potentially reduced fraud.

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