Bitcoin Crosses $94,000 For New All-Time High, Dogecoin Back At $0.40, Ethereum Flat: 'Short-Term Price Action Unpredictable,' Say Analysts

Cryptocurrency markets are trading higher, with Bitcoin recording a new all-time high at $94,040, according to Coingecko data.

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 102.3% and daily active addresses up by 13%. Transactions greater than $100,000 are up from 8,261 to 11,812 in a single day. Exchanges netflows are down by 192%.
• Coinglass data reports 98,554 traders were liquidated in the past 24 hours for $289.96 million. Open interest spiked to $59.3 billion.

Notable Developments:

Top Gainers:

Trader Notes: With Bitcoin prices crossing all-time highs of $94,000, crypto trader Jacob Canfield predicts a minimum target of $97,000.

Crypto trader More Crypto Online hopes that Bitcoin can move forward toward $95,000 and then maybe $97,000. On the other hand, the trader remains cautious suggesting this could be a corrective range. He believes the structure lacks clear direction and momentum and is therefore very fragile.

Santiment data noted that with Bitcoin peaking to all-time highs, whale transactions and retail FOMO could make the “short-term price action unpredictable, but the long-term indicators for Bitcoin looking quite sound.”

It also added that in any long-term bull market, dormant coins continuously moving back into circulation.

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