Bitcoin is once again at the center of attention as the crypto market faces a critical test at the $117,500 resistance zone. While short-term selling pressure has pulled BTC back under $115,000, analysts believe the bigger picture still favors bulls â with targets extending as high as $124,474 if current supports hold.
Institutional Demand Remains Strong
Fresh data highlights a growing appetite for Bitcoin among institutional investors. Spot Bitcoin ETFs attracted $642 million in inflows on Friday, boosting weekly inflows above $2.3 billion. Ethereum ETFs also saw significant traction, pulling in over $630 million. This suggests that large-scale players remain confident in crypto despite short-term volatility.
However, not everyone is buying. A long-term whale recently sent 1,176 BTC (worth $136M) to Hyperliquid (HYPE), sparking fresh concerns about possible distribution. Still, market observers argue that institutional demand is more than capable of absorbing supply.
---
Key Price Levels Across Markets
Bitcoin (BTC)
Resistance: $117,500 â $124,474
Support: $113,365 (20-day EMA)
If BTC holds above $113K, a breakout toward $124,474 remains likely. A failure here may keep BTC trading in the $107Kâ$124K range.
Ethereum (ETH)
Resistance: $4,788 â $4,956
Support: $4,438 (20-day EMA)
ETH is consolidating near support. A rebound could trigger the next leg higher to $5,500, but a break lower risks a fall toward $4,060.
XRP
Current Price: $2.98
Resistance: $3.20 â $3.40 â $3.66
Support: $2.69
XRP is retesting its breakout zone. Holding above $3.00 could pave the way for another rally.
Solana (SOL)
Resistance: $260
Support: $217 (20-day EMA), $195 (50-day SMA)
SOL bulls remain in control, but a failure to defend $217 could invite deeper correction.
BNB
Current Price: $919.67
Resistance: $1,000 â $1,100
Support: $884 (20-day EMA)
BNBâs uptrend is intact, with bulls eyeing a four-digit milestone.
Dogecoin (DOGE)
Resistance: $0.31 â $0.35 â $0.44
Support: $0.24 (20-day EMA)
DOGE faces heavy resistance near $0.29â$0.31, but strong demand remains at lower levels.
Cardano (ADA)
Current Price: $0.86
Resistance: $1.02 â $1.25
Support: $0.78 â $0.68
ADAâs symmetrical triangle points to indecision. A breakout could set the tone for the next major move.
Hyperliquid (HYPE)
Resistance: $57.44 â $64.25
Support: $49.88 â $45.28
HYPE remains bullish after shallow corrections, but traders should watch for signs of distribution.
---
Stock & Dollar Index Watch
S&P 500 (SPX): Bulls eye 6,700â7,000, while support sits at 6,491.
US Dollar Index (DXY): A drop below 97.10 could drag DXY to 96.37 or even 95. A rebound above moving averages may push it back to 100.50.
---
Bottom Line
Crypto markets remain in a tug-of-war between institutional inflows and whale-driven selling pressure. Bitcoinâs ability to defend the $113K support zone could be the deciding factor for the next breakout. Meanwhile, altcoins present mixed opportunities, with traders closely monitoring support zones for entry.
As always, volatility remains high, and risk management is crucial.
#BitcoinPrice #CryptoMarket #BTCAnalysis #Altcoins #CryptoTrading