Bitcoin, Ethereum, Dogecoin Heat Up In Pre-Thanksgiving Rally: 'Buy The Fear, Sell The Greed, Rinse And Repeat,' Says Trader

Cryptocurrency markets are trading higher on Wednesday, with Bitcoin surging back above the $96,000 mark.CryptocurrencyPrice Gains +/-Bitcoin BTC/USD $96,719.50+5.3%Ethereum ETH/USD $3,599.43+8.8%Solana SOL/USD $239.41+4.5%Dogecoin DOGE/USD $0.4042+6.6%Shiba Inu SHIB/USD $0.00002545+5.7%Notable Statistics:IntoTheBlock data shows large transaction volume decreasing by 7.4% and daily active addresses falling by 15%. Transactions greater than $100,000 are down from 13,037 to 12,877 in a single day. Exchanges netflows are up by 43.1%.Coinglass data reports 88,921 traders were liquidated in the past 24 hours for $243.79 million. Crypto long liquidations at $66.6 million are at the lowest since Nov. 5.Notable Developments:Ripple To Invest In Rebranded XRP Exchange-Traded Product By Bitwise‘Crypto Dad’ Chris Giancarlo Advocates For Passing Crypto Regulation From The SEC To Another Commission — Here’s WhyLong-Term Bitcoin Holders Locking In $2.02 Billion In Daily Realized Profits, Setting A New RecordDonald Trump Eyes Former SEC Comissioner Paul Atkins As Gary Gensler’s SuccessorMicroStrategy-Linked ETFs Skyrocket 400% This Year: Is This ‘The Michael Saylor Effect’?Trump Administration To Reportedly Let CFTC Regulate Bitcoin, Ethereum Spot Market, Is The SEC Set To Lose Its Grip Over Crypto?Top Gainers:CryptocurrencyPrice Gains +/-Uniswap UNI/USD $13.24+24.2%Ethena ENA/USD $0.7053+18.9%Aave AAVE/USD $201.37+17.2%Trader Notes: With Bitcoin prices picking up steam, CryptoQuant’s Head of Research sees a demand expansion driving Bitcoin higher.Bitcoin demand growth is accelerating again after the recent price correction. Demand expansion is what will get Bitcoin higher. pic.twitter.com/JKKzzgDxiZ— Julio Moreno (@jjcmoreno) November 27, 2024More Crypto Online sees the price of Bitcoin having reached the first target of a bullish pattern at $96,046.Crypto trader Astronomer Zero sees a familiar pattern playing out, saying, "Buy the fear, sell the greed, rinse and repeat."$BTCEveryone wanted lower, so we longed for higher 💸And there it is, the price push straight into our asks.As promised, we set bids, called for a local range to form, and then for a push up. And it's all happening.Buy the fear, sell the greed, rinse and repeat. ♻️All… https://t.co/MdOhn2x145 pic.twitter.com/dsUAce2Fmw— Astronomer (@astronomer_zero) November 27, 2024Read Next: Bitcoin’s 2020 ‘Thanksgiving Massacre’ To Repeat Or Is The Holiday A ‘Turning Point For New Highs’?