Bitcoin Back to $100,000, Ethereum,

Cryptocurrency markets are higher on Wednesday as financial markets interpret recently released inflation data as a positive sign for stocks.

Notable stats:

• IntoTheBlock data shows significant transaction volume up 25.6% and daily active addresses up 6%. Transactions above $100,000 increased from 10,421 to 10,217 in a single day. Net trade flows are down 132.8%.
• Data from Coinglass reports that 100,006 traders were liquidated in the last 24 hours for $266.75 million.

Notable developments:

Best winner:

Trader Notes: As Bitcoin Prices Reach $100,000, CryptoCon Provided Technical Analysis to the Crypto King, Saying the 5.618 Extension of the Cycle’s First Move Had a Near-Perfect Hit Rate for All Major Bitcoin Highs .

He sees Bitcoin’s price target at $184,181.

Crypto content creator Michael Pizzino welcomes $100,000 and expects a higher low, saying “Off to the races.” However, it will take a few days to train if this is to happen now.

Stoic believes that Bitcoin experienced a clear breakout of its value zone, followed by a reaction near the $80,000 high and a successful recovery of the $90,000 level.

Currently, a brief cooling period is expected in the meantime, with attention focused on finding spot support on the buy side.

A pullback into the high time frame would provide an ideal entry point for the bulls.

Currently, passive point stacking has been seen between $100,000 and $104,000.

If another breakout occurs, the focus will be on aggressively pursuing bids and absorbing sell walls.

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