Longs are starting to get rekt !!!
Here's the latest update on Bitcoin and the crypto market:
*Bitcoin Update:*
- *Current Price*: Bitcoin is trading above $94000, with a market capitalization of $1.83 trillion.
- *Resistance Level*: Bitcoin faces resistance at $96,300, with support at $91,700.
- *Institutional Interest*: US spot Bitcoin ETFs recorded inflows of $917 million, indicating strong confidence from institutional investors.
*Crypto Market Update:*
- *Market Sentiment*: The Crypto Fear and Greed Index shows a score of 25, indicating extreme fear and potential buying opportunities.
- *Ethereum Update*: Ethereum has broken through a key technical resistance, climbing above the $1,800 level and trading at $1,771.93.
- *Altcoin Performance*:
- *Solana (SOL)*: Traded higher by 6% with strong bullish momentum.
- *Ripple (XRP)*: Saw a 3% rise, with potential for a 25% breakout.
- *Binance Coin (BNB)*: Traded lower by 2.19%.
*Market Trends:*
- *Institutional Investment*: Growing ETF holdings signal strong confidence from institutional investors, with US spot Bitcoin ETFs reaching an all-time high of 888,607 BTC.
- *Macroeconomic Factors*: US jobless claims data could influence short-term sentiment, and trade policy stability is supporting the market.