Bitcoin, Ethereum, XRP, Dogecoin Flat As Traders Hope For Altcoin Outperformance

Benzinga
15 May

Major cryptocurrencies are trading sideways amid stagnating Bitcoin dominance, potentially signaling increased capital rotation into altcoins.

CryptocurrencyPrice   Gains +/-
Bitcoin BTC/USD$103,380.01-0.9%
Ethereum ETH/USD$2,600.38-1.6%
Solana SOL/USD$176.25-1.5%
XRP XRP/USD$2.55-0.3%
Dogecoin DOGE/USD$0.2335 -2.1%
Shiba Inu SHIB/USD$0.00001581-2.7%

Notable Statistics:

  • IntoTheBlock data shows large transaction volume increasing by 8.98% and daily active addresses grew by 10.7%. Transactions greater than $100,000 are down from 12,470 to 11,891 in a single day. Exchanges netflows are down by 236.9%.
  • Coinglass data reports 139,936 traders were liquidated in the past 24 hours for $408.44 million.
  • Crypto chart Ali Martinez observed that over the past three weeks, 100,000 BTC have been withdrawn from exchanges, a sign of growing investor confidence and long-term holding behavior. During the same period, more than $35 billion flowed through the crypto markets, underscoring heightened activity.  
  • Martinez also highlighted that if Bitcoin reclaims the $105,244 level, it could trigger $25.38 million in short liquidations, potentially fueling a sharp upside move as bearish positions get squeezed.

Notable Developments:

  • Coinbase Becomes First Pure-Play Crypto Stock In S&P 500, Analyst Sees Major Institutional Upside
  • Standard Chartered Partners With FalconX To Fuel Institutional Crypto Access As Bitcoin Soars Past $103K
  • Cryptocurrency Tycoon’s Daughter Escapes Kidnapping Attempt: Viral Video Captures Terrifying Ordeal
  • JPMorgan Completes First Public Trade Of Tokenized Treasuries
  • Kevin O’Leary Lauds Robinhood’s Acquisition Of WonderFi Will ‘Transform Cross-Border Trading:’ ‘No More Outrageous Bank Fees’
  • Trump Memecoin Adopted By China-Linked Nasdaq Company As Treasury Reserve Asset

Top Losers:

CryptocurrencyPrice   Gains +/-
Pi PI/USD $0.9652-18.2%
EOS EOS/USD $0.8099-8.7%
Floki FLOKI/USD $0.0001089-7.4%

Trader Notes: Stockmoney Lizards noted that Bitcoin has strongly rebounded off key support, reinforcing the bullish structure.

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While the conservative target for this cycle is $150,000–$160,000, they see a more probable range between $200,000 and $250,000.

CrediBULL Crypto commented that BTC bounced off local demand and is now consolidating, a structure that often precedes continuation moves. The key is whether Bitcoin can hold a higher low to resume its uptrend.

Michael van de Poppe pointed to a bearish divergence in Bitcoin dominance, suggesting the ongoing reversal may still have room to play out.

Crypto trader Javon Marks observed multiple bullish setups indicating Bitcoin could be on track to new all-time highs. Holding above $67,559 could trigger an 11% rally to $116,652, with a break above that targeting the $165,000 range.

Crypto analyst Miles Deutscher highlighted that Bitcoin supply on exchanges has dropped to a 7-year low, now at just 14%. As demand rises and supply contracts, this sets up conditions for significant bullish pressure and potential price acceleration.

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Read Next:

  • Bitcoin’s Volatility Makes It Unfit As A Benchmark For Liquid Funds: Report

Image: Shutterstock

$BTCBitcoin
$103720.70-0.40%

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$DOGEDogecoin
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