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Cryptocurrency markets are going sideways on Tuesday, with Bitcoin holding steady near $110,000.
Notable Statistics:
Notable Developments:
Trader Notes: Glassnode data shows Bitcoin's pullback to $110,000 remains relatively mild compared to past cycles. Only about 9% of supply is in loss, with unrealized losses capped near 10%.
By contrast, the last cycle bottom saw more than 25% of supply in loss with drawdowns of 23%, while full bear markets historically dragged 50%+ of supply into loss with as much as 78% drawdowns.
More Crypto Online noted that a dip below $109,210 would be the first technical signal of a potential local top.
Coin Bureau's Nic Puckrin added that Bitcoin is showing resilience, reclaiming December's highs and now retesting both May's peak and the 100-day MA, with $112,000 as the key resistance.
Michael van de Poppe described $112,000 as Bitcoin's "ultimate test," suggesting a clean breakout would confirm the bull market's full return, adding: "Good bounce back upwards!"
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Bitcoin, XRP Steady While Ethereum, Dogecoin Slip – Benzinga
