Bitcoin stayed steady, with a slight price decrease of 0.71%. However, trading volume jumped by 94.03%. Its market cap reached $2.29 trillion. Liquidations were higher for long positions at $34.70 million, while shorts saw $10.27 million. Ethereum’s price fell by 2.20%, but trading volume rose by 41.36%, bringing its market cap to $546.07 billion. Long positions faced higher liquidations at $92.52 million, showing strong interest in trading. Solana dropped sharply by 4.06% while volume increased by 29.04%. Its market cap stood at $128.17 billion. Long positions faced liquidations of $28.18 million, indicating continued trader interest despite the decrease. XRP experienced a small dip of 1.78%, with a market cap of $178.51 billion and a modest volume increase of 7.05%. Liquidations were balanced, with longs at $14.21 million. Dogecoin had the largest price drop at 7.45%, along with a 17.56% reduction in volume and a market cap of $39.83 billion. Long positions faced significant liquidations at $29.11 million, highlighting a tough trading day for Dogecoin. With Bitcoin’s stable price amidst high trading volume, we should monitor for signs of accumulation by large investors. This situation is similar to the build-up before the ETF approvals in 2024, where substantial funds entered quietly before prices surged. Data from major exchanges indicates that wallets holding over 1,000 BTC have increased their balances by 3% this month, a sign of institutional confidence. For Ethereum, the rise in open interest on a down day suggests traders are preparing for a big move, likely in anticipation of the upcoming “Cancun-Prague” network upgrade in Q1 2026. While over $92 million in long positions were recently liquidated, this often clears out weak hands before a recovery. This pattern is similar to what we saw after the Merge in 2022. Solana’s sharp decrease suggests traders are focusing on short-term profits or cutting losses rather than establishing new long-term positions, especially since open interest is falling. This high involvement during a dip is typical for SOL, as witnessed during network stability concerns in 2023. The key will be whether support holds around the $220 level, a critical pivot point throughout the year. XRP is showing weakness as traders shift towards assets with more immediate triggers. The drop in open interest signals capital is leaving, likely due to the fading influence of its long-standing legal issues as a speculative driver. Unless a significant new development occurs, XRP may continue to lag behind market leaders. Dogecoin’s significant decline in price, volume, and open interest is a major concern. Recent on-chain data reveals a 20% drop in active daily addresses, indicating that retail interest is quickly diminishing. This is a classic sign that speculative excitement has waned, making attempts to trade in this scenario risky.

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