Cryptocurrency Markets Trade Sideways Ahead of Inflation Data

Cryptocurrency markets are trading sideways ahead of fresh inflation data on Friday. Bitcoin and Dogecoin are trading flat, while Ethereum and XRP have slipped. Solana and Shiba Inu have also seen some movement. Notable statistics include 99,861 traders being liquidated in the past 24 hours for $295.92 million and net inflows of $81.3 million into spot Bitcoin ETFs on Wednesday. Top gainers in the past 24 hours include Pyth Network, Cronos, and Conflux.

Cryptocurrency markets are trading sideways ahead of the release of fresh inflation data on Friday. Bitcoin and Dogecoin remain flat, while Ethereum and XRP have seen a slight decline. Solana and Shiba Inu have also shown some movement. According to CoinGlass data, 99,861 traders were liquidated in the past 24 hours, totaling $295.92 million in losses. Additionally, net inflows of $81.3 million into spot Bitcoin ETFs were recorded on Wednesday. The top gainers in the past 24 hours include Pyth Network, Cronos, and Conflux [1].

Bitcoin (BTC) is currently trading around $110,100, after slipping below its 100-day EMA at $110,800, signaling renewed weakness in price action [2]. Despite this, some optimism remains as BTC’s spot ETFs recorded $219 million in fresh inflows while Statergy added 3,081 BTC to its reserves. This indicates that institutional demand is still present, despite the recent price correction [2].

Shiba Inu (SHIB) has seen a significant accumulation of tokens, with 191.857 billion SHIB moved from a Coinbase hot wallet into a single address, totaling approximately $2.43 million [1]. This move, which consisted of four separate inflows, suggests deliberate accumulation rather than short-term trading. The on-chain data recorded inflows of 22.47 billion, 38.39 billion, 102.59 billion, and 28.39 billion SHIB. The largest single transfer equated to roughly $1.28 million at the time of move. The concentration into one address reduces market liquidity and can amplify price moves if the wallet liquidates.

The current price of SHIB is trading near $0.000013, with short-term price action boxed between support at $0.00001159 and resistance at $0.00001689. A confirmed break above resistance could target $0.00002025, while a break below support may revisit the $0.000010 range [1].

Investors should monitor on-chain activity and price action around identified support and resistance levels for clues about intent and market impact. The recent accumulation of SHIB from a major exchange hot wallet into a single address is one of the larger single-address accumulations observed recently, indicating focused accumulation.

In summary, cryptocurrency markets are trading sideways ahead of the inflation data release, with Bitcoin and SHIB showing notable movements. The accumulation of SHIB from a Coinbase hot wallet into a single address signals focused accumulation and increases concentration risk. Investors should remain vigilant and monitor the market for any signs of further accumulation or liquidation.

References:
[1] https://en.coinotag.com/coinbase-investor-may-signal-shiba-inu-accumulation-after-2-4m-transfer-to-single-wallet/
[2] https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-forecast-btc-slips-below-110-000-wiping-out-over-leverage-traders-202508261002