Bitcoin, Ethereum, XRP, Dogecoin Whipsaw, Brace for 'Classic Weekend Sweep'

Bitcoin briefly topped $79,000 before pulling back markets await next week’s interest rate decision and the CLARITY Act vote.

Notable Statistics:

• Coinglass data shows 99,064 traders were liquidated in the past 24 hours for $723.34 million.       
• SoSoValue data shows net outflows of $282.6 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net outflows of $29.8 million.
• In the past 24 hours, top gainers include Bitway, Jupiter and Aerodrome Finance.

Notable Developments:

Trader Notes:

Trader Michaël van de Poppe expects Bitcoin to briefly sweep below recent lows over the weekend before reversing higher and retesting the range highs.

Trader Killa XBT said Bitcoin swept the lows, rallied to the highs and retraced 60% after flushing longs. With late shorts now building, he sees fresh liquidity above as the next target, requiring roughly a 1.2% move higher.

Ted Pillows noted Bitcoin’s daily MACD remains bearish, while the latest rally lacked strong spot demand and rising rate-hike odds add pressure.

A strong weekly close above $80,000, backed by solid ETF inflows, could open a move to $85,000, but the current structure favors a pullback.

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