Bitcoin Back Crossed $100,000, Ethereum Hit $4,000: Friday In Review

Khyathi Dalal

December 07, 2024

Cryptocurrency markets had a bullish Friday, with Bitcoin's surpassing $100,000 for the second time and Ethereum crossing $4,000.

Cryptocurrency	Price	Gains +/-
Bitcoin (CRYPTO: BTC)	$99,468	+1.1%
Ethereum (CRYPTO: ETH)	$4,004	+2.9%
Solana (CRYPTO: SOL)	$238.43	+1.5%
Dogecoin (CRYPTO: DOGE)	$0.4478	+4%
Shiba Inu (CRYPTO: SHIB)	$0.00003131	+4.1%

Notable Statistics:

IntoTheBlock data shows large transaction volume increasing by 73.2% and daily active addresses growing by 8.5%. Transactions greater than $100,000 are up from 13,754 to 18,967 in a single day. Exchanges netflows are down by 149.9%.
Coinglass data reports 152,488 traders were liquidated in the past 24 hours for $838.66 million.
IntoTheBlock data shows altcoins reclaiming a significant share of the overall market dominance.

Notable Developments:

Major Banks Advance Blockchain Use With Digital Cash, Stablecoins
EXCLUSIVE: Bitcoin Briefly Tops $100,000, But Where Do Benzinga Readers Predict It Will Finish 2024?
Bitcoin Reserve Would ‘Benefit Special Interest Groups,’ Former Fed Chairman Warns
Happy 11th Birthday, Dogecoin! Trader Anticipates ‘Violent Upside Move’ If 3-Week Accumulation Breaks
Dave Portnoy Blames Winklevoss Twins For Confusing Him Into Selling Bitcoin Too Early

Trader Notes: With Bitcoin prices crossing the $100,000 mark the second time, crypto trader Emperor sees this breakout being much healthier, thanks to spot-driven buying.

Crypto trader Seth calls this scenario as a “Happy Bullish Friday.” He added that Bitcoin open interest just keeps on dropping and shorts are getting liquidated.

#Bitcoin open interest just keep on dropping. Shorts are getting liquidated….

This is too good to be true! Happy Bullish Friday! 🥳 https://t.co/1uMGEOiJsP pic.twitter.com/yQggbv7VB4
— Seth (@seth_fin) December 6, 2024

More Crypto Online explained that the crypto market is in fierce struggle with no clear winner, resembling a battle for control.

Bulls faced heavy liquidations on Thuesday, followed by losses for short traders on Friday. He predicts that the key level to watch for Bitcoin is $97,450; falling below it could weaken bulls further.

Read Next:

Bitcoin’s Flash Crash Is A ‘Classic Bull Market Shakeout,’ Says Trader: Watch These 3 Scenarios

Image: Shutterstock

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