Today's Focus in the Cryptocurrency Market: BTC Stands Firm at $114,000, ETH Contests $3,500 — Rebound or a New Round of Fluctuation?
1. BTC Strongly Breaks Through $115,000
This morning, Bitcoin (BTC) continued its upward trend, briefly breaking through $115,000, currently quoted at $115,015.90, with an intraday increase of 0.94%7. HTX market data also indicates that BTC briefly touched the key point of $115,000, with the current quote at $114,840, showing an intraday increase of 0.78%6. Market sentiment is leaning towards optimism, and investors are paying attention to whether BTC can maintain this key resistance level.
2. ETH Fluctuates Around $3,500, 24-Hour Increase Exceeds 2.6%
Ethereum (ETH) exhibited volatile movement today, briefly rising to $3,514 in the morning (24-hour increase of 3.98%2), but then slightly retracing, currently quoted at $3,499.76, with a 24-hour increase still reaching 2.62%45. Market analysis suggests that ETH's short-term support level is around $3,500; if it breaks below this, it may test $3,400, while a breakthrough at $3,600 could accelerate the upward movement8.
3. Market Dynamics and Outlook
Institutional Accumulation: Recent data shows that institutional-level addresses accumulated 15,800 ETH within 7 hours, bringing total holdings to 41,000 ETH6, indicating continued bullish sentiment from large investors towards ETH.
Layer2 Competition: The Base network, supported by Coinbase, has surpassed Solana in daily token issuance, reflecting the activity level of the Ethereum ecosystem1.
Macroeconomic Factors: The US Bitcoin spot ETF saw a cumulative net outflow of $642 million this week, and the market needs to pay attention to the impact of fund flows on BTC1.
Summary: Today, BTC performs strongly, standing above $114,000, while ETH consolidates around $3,500, with significant market fluctuations; investors need to pay attention to risk control. If BTC maintains its upward momentum, it may drive ETH further.
