Copyright Benzinga
Bitcoin is hovering around $108,000 on Tuesday morning amid negative ETF flows and total crypto liquidations hitting $319.85 million, impacting 122,336 traders. The Fear & Greed Index has remained in the fear zone at 33 for a week. Spot BTC ETFs saw $40.5 million in net outflows, while ETH ETFs recorded $145.7 million in outflows on Monday. Trader Commentary Scott Melker notes that Bitcoin's previous bullish divergences are now invalid and replaced by a hidden bearish divergence. After a short bounce, the market is in a wait-and-see phase for clearer direction. Crypto trader Niels points out that altcoin/BTC pairs hit their lowest level in five years this month. Historically, such lows have preceded months of altcoin outperformance. Despite a long downtrend, conditions are slowly shifting toward a risk-on environment. Ether Wizz observes a potential bull flag forming for Ethereum. As long as the current support zone holds, the outlook remains bullish, keeping a $6,000–$8,000 ETH by year-end within reach. The meme coin market cap remains mostly flat, down 0.3% at $61.9 billion, per CoinGecko. Crypto chart analyst Ali Martinez highlighted that 10.5 billion DOGE have accumulated at $0.21, forming a major resistance zone. Traders are advised to watch this key level closely. Read Next: Anthony Scaramucci Says You Can’t Move Gold Around The World, But You Can Move Bitcoin — It Removes ‘Six Or Seven… Intermediaries’ Image: Shutterstock
