#BTC

Price predictions for May 26: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE

Every drop in Bitcoin's price continues to be bought, but overcoming a key upper resistance could determine the next steps for many altcoins.

Key points:

Bitcoin ETPs continue to record strong purchases, indicating that bulls expect the upward trend to continue.

Several major altcoins experienced a correction, but lower levels continue to attract buyers.

Bitcoin is trying to stay above $109,588, indicating buying on every minor dip. Bitcoin has risen for seven consecutive weeks, and if buyers can extend the streak to eight weeks, the path is clear for further upside. Cryptocurrency analyst and trader Carpe Noctom stated in a post on X that Bitcoin has only recorded three instances of eight consecutive positive weekly closes, and on each occasion, Bitcoin has been higher in the following 6 and 12 month periods.

Institutional investors see a long-term opportunity and have therefore continued to invest money in Bitcoin exchange-traded products (ETPs).