Cryptocurrency markets are trading higher on Wednesday, with Ethereum notably outperforming Bitcoin.

Notable Statistics:

• Coinglass data shows 109,129 traders were liquidated in the past 24 hours for $246.94 million.
• In the past 24 hours, top gainers included MemeCore (CRYPTO: M), Virtuals Protocol (CRYPTO: VIRTUAL) and Cronos (CRYPTO: CRO).

Notable Developments:

• Alibaba’s Jack Ma-Backed Firm Invests $44 Million In Ethereum For Strategic Reserve
• Tom Lee: Ethereum Could Reach $62,000 If It Hits This ETH/BTC Ratio
• Kevin O’Leary Says Bitcoin, Ethereum Are ‘True Gold Standards,’ Reveals They Make Up 90% Of His Crypto Holdings
• Trump’s Crypto Advisors Push SEC And CFTC To Unite And Streamline Digital Asset Regulation
• The ‘Intelligent Investor’ Is Dead, Expert Proclaims: ‘Bitcoin Will Win’ In Times Of ‘Ideological Investors’

Trader Notes: IncomeSharks noted that Bitcoin is re-entering its major trading channel, aligning with prior expectations.

Ted Pillows predicted that Bitcoin could remain sideways or bearish through the month before staging a strong rally in Q4, pointing toward a potential blow-off top in late 2025 or early 2026, consistent with prior cycle peaks.

ShardiB2 flagged $113,250 as the critical breakout level to confirm a market bottom, while Michael van de Poppe described Bitcoin's current setup as a "crucial test." He noted that reclaiming the 20-day EMA would put the bull trend back on track, but failure to break higher could invite further dips — opportunities he is preparing to buy.

On a higher timeframe, analyst CryptosBatman pointed out a massive bullish divergence on Bitcoin's weekly chart. Despite the rebound, the stochastic indicator remains deeply oversold and has yet to trigger a golden cross, suggesting that the latest move may still be in its early stages.

Read Next:

• Can Bitcoin, Ethereum, Solana Disprove The Sentiment That ‘September Is Always Bearish’?

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