Cryptocurrency Markets See Strong Friday Close, Altcoins Gain Momentum
Cryptocurrency markets closed Friday on a strong note, with Bitcoin's performance leading the way for gains in altcoins. Data from IntoTheBlock shows a decrease in large transaction volume by 22.6% and a drop in daily active addresses by 8%. However, exchange netflows saw a significant increase of 188%.
Coinglass data reports that 86,529 traders were liquidated in the past 24 hours, resulting in $242 million in losses. Of this amount, $150 million were liquidated from short positions.
Dogecoin and XRP See Significant Price Increases
Dogecoin and XRP experienced notable price surges, with Dogecoin rising by 6.5% and XRP soaring by 20% in the past 24 hours. Analysts speculate that these increases could be attributed to various factors, including the potential launch of a Dogecoin ETF in 2025 and discussions surrounding Bitcoin as a strategic reserve in the U.S. and Brazil.
Bitcoin Price Break Could Trigger Altcoin Rally
Trader Daniel Cheung believes that altcoins could experience a significant rally, potentially reaching a 50% increase in a single day, once Bitcoin breaks the $100,000 barrier. Other analysts, such as Michaёl van de Poppe, see the current market conditions as an "institutional and governmental cycle," driven by discussions around Bitcoin's role as a reserve asset.
Ex-Girlfriend Confesses
In a surprising turn of events, the ex-girlfriend of James Howells, who famously lost a hard drive containing 8,000 Bitcoins now worth $760 million, has revealed that she was the one who threw it away. This revelation has sparked renewed interest in the story and raised questions about the possibility of recovering the lost Bitcoins.