Bitcoin, Ethereum, XRP, Dogecoin Slide After Record Weekly BTC Close

Following Bitcoin’s highest weekly close ever, the crypto market may now face a wave of profit-taking and macro uncertainty, leaving observers caught in two minds about its next move.

Cryptocurrency Price    Gains +/-
Bitcoin (CRYPTO: BTC) $103,041.04 -0.8%
Ethereum (CRYPTO: ETH) $2,416.42 -3.5
Solana (CRYPTO: SOL) $161.86 -5.4%
XRP (CRYPTO: XRP) $2.32 -2.9%
Dogecoin (CRYPTO: DOGE) $0.2177 -2%
Shiba Inu (CRYPTO: SHIB) $0.00001409 -4.1%

Notable Statistics:

  • IntoTheBlock data shows Bitcoin large transaction volume decreased by 8.6% while Ethereum dropped by 16.7% in a single day. Ethereum exchanges netflows are up by 157%.
  • Coinglass data shows 154,467 traders were liquidated in the past 24 hours for $667.09 million.
  • SoSoValue data shows a net inflow of $260.3 million into spot Bitcoin ETFs on May 16. Spot Ethereum ETFs saw a net inflow of $22.1 million.

Trader Notes: Crypto trader Bleeker noted that despite recent volatility, “nothing meaningful has changed in over a month.”

Referencing a chart where $106,000 was pre-marked as …

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