Cryptocurrency markets are awaitingtoday's release of core PCE inflation data, trading in a tight sideways range on Wednesday morning.

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 77.7% and daily active addresses growing by 28.9%. Transactions greater than $100,000 are up from 7,991 to 10,589 in a single day. Exchanges netflows are down by 126%.
• Coinglass data reports 85,275 traders were liquidated in the past 24 hours for $145.97 million.

Notable Developments:

• Bitcoin Steady At $95,000 As US Bitcoin ETFs Record $591 Million Net Inflows
• Mastercard Bets On Cross-Border Payments With $300 Million Corpay Deal
• Trump-Affiliated World Liberty Financial Defies Ethics Concerns, Raises $550 Million
• Arizona Moving To Convert Up to 10% Of Its Treasury To Bitcoin: Legislature Clears Bills Paving Way For Strategic Crypto Reserve

Trader Notes: CryptoCon emphasized that Bitcoin has just confirmed strong support on the MVRV-Z metric, a historically reliable indicator for market cycles.

There’s still substantial upside remaining before BTC approaches levels typically associated with cycle tops, suggesting the current bull phase is far from over.

"This cycle hasn't yet displayed the typical ‘top' behavior we've seen in the past,” he noted, implying that the peak likely still lies ahead. In this context, a bullish outlook is not just warranted as it appears increasingly inevitable.

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Meanwhile, trader Jelle highlighted that Bitcoin is approaching the apex of an ascending triangle, a classic bullish continuation pattern that often precedes breakouts to new highs.

Trader Inmortal added that recent price action reminds him of vertical accumulation phases seen in past bull markets, powerful consolidation zones that often precede explosive upward moves.

A breakout from here would be "a strong show of strength," he said.

Adding further confluence, analyst Ali Martinez pointed to a golden cross between the MVRV Ratio and its 365-day simple moving average, a rare technical event that historically marks the start of major Bitcoin bull rallies.

Read Next: 

• Bitcoin Is A Commodity Like Gold, Says Commerce Secretary Lutnick

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