Bitcoin Crosses 20 Million: A Historic Milestone
Bitcoin (BTC) is currently trading in a range between $68,750 and $69,450, while having just reached a major milestone in cryptocurrency history. The 20 millionth BTC has been mined. This milestone further reinforces the asset’s scarcity thesis, as nearly 95% of the total supply is now in circulation. Meanwhile, institutional accumulation continues to progress, with some companies now holding more than 738,000 BTC in their reserves.
Despite this positive fundamental backdrop, several technical signals warrant caution. The number of active addresses over 30 days has dropped to approximately 11.6 million, indicating decreased retail investor activity. In parallel, a Death Cross on the 3-day chart has just appeared, a signal historically associated with the final correction phase in several previous cycles.
In this context, technical levels become crucial. A break below the support at $67,000 could trigger a deeper retracement and cause liquidations on late long positions. Conversely, a breakout above $71,000 would invalidate this bearish scenario and could reignite short-term bullish momentum.
Dogecoin Soars, XRP Ready for Explosive Move
While Bitcoin consolidates, Dogecoin (DOGE) is capturing market attention. The memecoin is trading around $0.092 after recording a gain of more than 5.6% in one day. This rapid movement has caused a massive imbalance in derivatives markets, with an explosion in short position liquidations of nearly 779%.
The main catalyst for this surge remains the announcement of the imminent launch of X Money, the future payment service for the X platform. While Dogecoin integration has not been officially confirmed, the historical association between Elon Musk and DOGE has been enough to reignite speculation. Whale movements and growing adoption of the token by certain merchants are also reinforcing this dynamic.
Meanwhile, XRP is trading around $1.37 and attracting attention from technical analysts. According to Ali Martinez, Bollinger Bands for XRP are tightening significantly, a signal that typically precedes a phase of significant volatility. If this compression leads to a breakout, the market could witness a dramatic price movement in the coming days.
Related Articles:
