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.

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

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