Crypto Markets Surge Ahead of Weekend, Bulls Must Maintain Momentum

Crypto markets are experiencing a brief respite ahead of the weekend as Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin climb in value. Analysts point to significant liquidity above current levels that could fuel further upside if bulls maintain momentum.

BTC traded around $63,884 on Friday, with a notable number of traders being liquidated in the past 24 hours for $211.92 million, according to Coinglass data. This includes net outflows of $95.3 million from spot Bitcoin ETFs on Thursday, as reported by SoSoValue.

The sharp swings over the past three days have triggered nearly $960 million in crypto liquidations, with BTC first plunging from $64,100 to $61,500 and then rebounding to $63,300 before rallying above $64,500. Trader exitpump noted that a sizable number of Bitcoin limit short orders were filled as aggressive buyers pushed prices higher.

The analyst warns that if BTC fails to break above $64,500, late long positions could unwind, triggering a pullback as traders exit overcrowded bullish bets. According to KillaXBT, Bitcoin has declined roughly 2.5% on nine consecutive Mondays, making next Monday a key session to watch.