📊 Market Overview$BTC
The bullish momentum in the cryptocurrency market continues with Bitcoin surpassing the $110,000 mark, recording a 3.16% increase by 12:00 PM UTC today, driven by net inflows of $608.99 million into Spot Bitcoin ETFs.
The total trading volume of cryptocurrencies increased by about 18% over the past twenty-four hours to more than $45 billion, reflecting strong buying activity across all major categories.
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📈 Performance of Major Currencies
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📰 Top News and Events
Bitcoin Pizza Day: The anniversary of the purchase of the first pizza for 10,000 BTC coincided with a price rally, as Bitcoin saw a 3.2% increase from midnight to 1:00 PM UTC, with notable activity on BTC/USDT and BTC/ETH trading pairs.
Institutional fund flows: Bloomberg data showed $607.1 million entering Bitcoin funds during the previous session, reinforcing institutional interest and confirming a positive outlook towards digital assets.
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🛠 Technical Analysis
Bitcoin (BTC):
The Relative Strength Index (RSI) on the 4-hour chart is at 68, indicating an overbought condition but not reaching reversal levels.
Key support levels: $108,000.
Nearby resistance levels: $115,000.
Ethereum (ETH):
RSI at 55 on the daily timeframe, allowing room for further upside before reaching overbought conditions.
The $2,600 level remains an important psychological support, while $2,800–$2,850 forms an initial resistance wall.
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🎯 Predictions and Outlook
The market remains under the influence of institutional strength and fund flows, indicating the possibility of the bullish wave continuing until the end of May.
Sideways corrections should be viewed as entry opportunities rather than reversal signals, especially with ongoing Spot ETF flows.
Investors are advised to monitor US bond data and upcoming Federal Reserve decisions, as they may affect risk sentiment across financial markets.
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