Bitcoin exceeds $100,000, falls below, Ethereum and Dogecoin follow lower: a “fraudulent dump” to wipe out leverage?

Cryptocurrency markets saw some very volatile trading on Thursday, with Bitcoin initially breaking the $100,000 mark but falling back to a low of $98,000 by the afternoon.

Notable stats:

• IntoTheBlock data shows significant transaction volume up 3.2% and daily active addresses down 3.4%. Transactions above $100,000 increased from 13,081 to 13,754 in a single day. Net trade flows are up 131.4%.
• Data from Coinglass reports that 180,428 traders were liquidated in the last 24 hours for $650 million.

Notable developments:

Top winners:

Trader Notes: As Bitcoin prices hover around the $100,000 mark, crypto chart analyst Ali Martinez wonders if this milestone is a simple coincidence or part of the predictable pace of the “King of Crypto.”

In previous cycles, Bitcoin needed 1,065 days to go from trough to peak and 1,430 days between market troughs. If this historical trend continues, Martinez predicts a market top for BTC by October 2025.

Economist Pierre Schiff warned that Bitcoin could weaken the dollar, not by replacing it as the world’s reserve currency, but by the adoption of Bitcoin by the US government.

Schiff argues This scenario would involve the government printing more dollars to acquire Bitcoin, fueling “a larger bubble that squanders the nation’s wealth.”

Meanwhile, crypto trader Wolf speculate whether the recent Bitcoin breakout could trigger “fraudulent dumping” aimed at liquidating overleveraged positions.

On the other hand, trader Kevin observes that BTC is struggling to maintain its bullish momentum. While acknowledging downside risk, he suggests any significant correction could take time to occur.

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