GM!
Currently, the cryptocurrency market is showing a differentiated pattern:
Bitcoin, affected by China-US trade frictions, has fallen back to the $108,000 range, fluctuating between $107,500 and $111,200 during the day. However, the 10-day moving average ($108,000) and 20-day moving average ($105,000) form a double support. Additionally, BlackRock's Bitcoin ETF holdings continue to rise to 651,000 coins, with institutional fund inflows offsetting some negative sentiment.
Ethereum has dropped back to the $2,550 range, with technicals confirming a breakthrough of the $2,500 resistance level. The MACD indicator has formed a golden cross, and coupled with the demand from the DeFi and NFT ecosystems, market bullish sentiment is strong. Overall, Bitcoin is short-term disturbed by macro factors, but institutional holdings provide a safety net; Ethereum continues to be strong due to ecosystem expansion. Investors should pay attention to the effectiveness of Bitcoin's $108,000 support and Ethereum's breakthrough of the $2,700 target.
As for altcoins; if Bitcoin and Ethereum experience a sideways trend, then the opportunity for altcoins to surge will arise!
Keep an eye on: mask wct syrup moodeng
