April 29 Bitcoin and Ethereum Market Analysis
1. Bitcoin Current Performance
Price Dynamics: Today it broke through $95,000, reaching a maximum of $95,324, currently reported at $94,861, with a 24-hour increase of 1.44% and a cumulative weekly increase of 11.07%.
Technical Analysis:
Short-term Risk: The RSI indicator is approaching the overbought threshold of 70, and MACD momentum is weakening. If it fails to break through $95,800 (Bollinger Band upper limit), it may retrace to the support level of $93,500.
Key Resistance and Support: The upper resistance level to watch is the psychological level of $95,000 and the CME futures gap ($77,000-$80,000). If it loses $74,000, it may test the $68,000-$70,000 range.
Policy Favorability: Arizona in the United States has passed a Bitcoin reserve bill, allowing public funds to allocate Bitcoin, boosting market confidence.
Capital Inflow: Institutional funds continue to increase positions, with net inflow of spot Bitcoin ETF reaching 10,611 BTC in one week, and new contract positions creating the highest weekly record since 2025.
2. Ethereum Current Performance
Price Dynamics: Today it rose following Bitcoin, but the specific increase was not mentioned (other mainstream coins like Ripple and Dogecoin also rose). Recently, the price has fluctuated in the $1,700-$1,800 range, with a weekly increase of about 12%.
Technical Analysis:
Support and Resistance: The key support level is $1,760; if broken, it may test $1,700. The upper resistance level to watch is $1,840 (Bollinger Band upper limit) and $1,870 (rising channel pressure point).
Indicator Signals: The MACD daily level DIF and DEA lines are converging, and the four-hour chart shows weakening bullish momentum, requiring caution for short-term retracement risks.
Ecosystem and Policy:
Technical Upgrade: The Pectra upgrade initiated on April 25 optimizes account abstraction and Layer 2 performance, reducing transaction costs to below $0.001, driving an 18% increase in DeFi locked volume.
Competitive Pressure: Public chain ecosystems like Solana are active, challenging Ethereum's market share, but the development of Layer 2 networks (like Base) may boost demand.
Summary
Today Bitcoin broke through a key resistance level, but the short-term overbought signals in the technical aspect require caution for retracement; Ethereum's ecosystem upgrade provides support, but it needs to break through the upper pressure. Investors should pay attention to policy trends, control leverage, and focus on anti-cyclical sectors to diversify risks. In the long run, Bitcoin's anti-inflation narrative and Ethereum's technological iteration remain core driving forces. #加密市场反弹 $BTC
#Strategy增持比特币 $ETH
