Bitcoin Hits $80K, ETH and XRP Rise 3%-6%

Bitcoin touched $80,000, but traders remain cautious ahead of Fed Chair Warsh's speech at Jackson Hole on Friday.

Cryptocurrency Ticker Prices

Bitcoin $79,925

Ethereum $2,495

Solana $108.03

XRP $1.45

Dogecoin $0.08897

Shiba Inu $0.055455

Key Statistics:

Coinglass data shows 90,734 traders were liquidated in the past 24 hours, totaling $421.26 million.

SoSoValue data shows spot Bitcoin ETFs saw net inflows of $232.1 million on Wednesday. Spot Ethereum ETFs saw net inflows of $192.4 million.

Top gainers over the past 24 hours include VeChain, Official Trump, and Ethena.

Key Developments:

Charles Schwab adds SOL, AVAX, LINK to crypto platform, Solana rises 5%

Bitcoin's big test: supply wall between $81,000 and $86,000

Bitwise executive says Scott Bessent made the two strongest arguments for Bitcoin

BlackRock executive says the Clarity Act is "less critical" for cryptocurrencies other than Bitcoin

Trader Notes:

Daan Crypto Trades predicts Bitcoin needs to break and hold above $80,000, and a higher high above $83,000 could trigger stronger FOMO and leverage effects, with a target near $98,000.

KillaXBT highlights that the failure to hold below $57,000 and weeks of consolidation above $62,000 suggest the bearish case has weakened. He sees $82,000 and above as the only zone worth considering for hedging shorts.

Michaël van de Poppe notes that the longer Bitcoin holds at current levels, the lower the probability of retesting lows, which he has reduced to below 15%.

If it climbs another level, BTC could rise to $90,000, then trade in a $70,000-$90,000 range for two to four months before potentially moving toward all-time highs.