US Stocks Set New Record, Bitcoin Still Stuck in Resistance Area
US stock futures opened flat, but the S&P 500 remains near its record high after rising 0.8% to 6,141.02. The Dow Jones and Nasdaq also strengthened, driven by investor optimism ahead of the release of key inflation data that could determine the market's next direction.
While the stock market sets records, the price of Bitcoin (BTC) still moves within a limited range of US$106,000 to US$109,000. Although the Bitcoin Exchange-Traded Fund (ETF) recorded significant inflows, the price has not moved much due to selling pressure from whale wallets continuing to hold back the rise.
Analysts note that wallets holding between 100 BTC and 1,000 BTC are the main balance, absorbing the selling pressure from whales that still dominate this year. If selling pressure from large holders increases, Bitcoin could potentially correct more deeply, but if whale accumulation resumes, a new rally could occur.
This situation highlights the contrast between the bullish US stock market and the stagnant crypto market. Investors are now waiting for inflation data and further movements from whales to determine whether Bitcoin can break out of its sideways phase.
*Disclaimer Alert. Not Financial Advice* (NFA). *Do Your Own Research* (DYOR).