Bitcoin, Ethereum, XRP, Dogecoin Bounce Back To Green: 'Ready For A Squeeze,' Trader Says

Benzinga
Yesterday

Crypto markets are in a holding pattern ahead of Wednesday's Federal Reserve meeting and other crucial macroeconomic data.

CryptocurrencyPrice   Gains +/-
Bitcoin BTC/USD $84,316.40+1.1%
Ethereum ETH/USD $1,938.92+2.5%
Solana SOL/USD $129.46+1.6%
XRP XRP/USD $2.36+2.2%
Dogecoin DOGE/USD $0.1747+3.3%
Shiba Inu SHIB/USD $0.00001304-1.4%

Notable Statistics:

  • IntoTheBlock data shows large transaction volume increasing by 5.3% and daily active addresses up by 2.6%. Transactions greater than $100,000 are down from 6,992 to 6,332 in a single day. Exchanges netflows are down by 45.9%.
  • Coinglass data reports 83,995 traders were liquidated in the past 24 hours for $172.67 million.
  • Crypto chart analyst Ali Martinez stated that long term holders added 179,000 BTC over the past month.
  • Martinez also shows capital inflows peaked to $4.16 billion, a level last seen in October 2023.

Notable Developments:

  • Bitcoin ETFs See Record $5.5 Billion In Outflows In 5 Weeks As Tariff Turbulence Looms
  • Will Bitcoin Go Up If Donald Trump Eliminates Income Tax For Americans Making Less Than $150,000?
  • Crypto Leaders Step Up Pressure On SEC As Trump’s Policies Reshape Regulatory Landscape
  • Standard Chartered Lowers Ethereum Price Target To $4,000: Here’s Why A Coinbase Blockchain Is To Blame
  • Strategy Purchases 130 More Bitcoin, Now Holds Over 499,000 BTC
  • Bitcoin Miners Hit Rock Bottom? Valuations Slip Below Key Average For First Time In A Year
  • Dogecoin Was Worth $50 Billion On Donald Trump’s Inauguration Day: It’s Now Down To $25 Billion

Top Gainers:

CryptocurrencyPrice   Gains +/-
PancakeSwap CAKE/USD $2.48+39.6%
Pepe PEPE/USD $0.057415+12.7%
BinaryX BNX/USD $1.60+11.9%

Trader Notes: With Bitcoin prices trading relatively flat, More Crypto Online notes that Bitcoin is holding micro support, but a solid low isn’t confirmed unless it breaks above $85,474.

If that happens, the next target is $87,204—until then, any bounce is just noise.

Another trader, JJcycles, believes Bitcoin is ready for a squeeze.

Looks like #Bitcoin is cooking, ready for a squeeze here. pic.twitter.com/znbky5UvBc

— JJcycles (@JJcycles) March 17, 2025

Altcoin Sherpa expects BTC to break $84,000 but sees $89,000 as a tougher challenge.

Extended consolidation strengthens confidence that this is the bottom.

Rekt Capital compares the current Bitcoin consolidation to June 2021.

Notably, Bitcoin broke out from a similar pattern in July 2021, hitting new all-time highs in November 2021.

#BTC Back in June 2021, price was consolidating between the 21-week EMA (green) and 50-week EMA (blue) after a crashRight now, Bitcoin is consolidating between the same EMAs after a crash(By the way, $BTC indeed broke out from its triangle by late July 2021 to reach new All… pic.twitter.com/Ok4Grzvit8

— Rekt Capital (@rektcapital) March 17, 2025

Read Next: 

  • Bitcoin, Altcoin Outlook Remains Positive, Says Defiant Trader Who’s 45% Down On His Investments

Image: Shutterstock

$BTCBitcoin
$84304.15-%
Overview
$BNXBinaryX
--%
$CAKEPancakeSwap
--%
$DOGEDogecoin
$0.1746-%
$ETHEthereum
$1927.06-%
$PEPEPepe
$0.000007-%
$SHIBShiba Inu
$0.000013-%
$SOLSolana
$135.53-%
$XRPRipple
$2.38-%
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