If you've been following the cryptocurrency dynamics recently, you would definitely find that BTC and ETH have once again become the center of public opinion. Bitcoin has broken through key levels, while Ethereum is steadily rising, gaining optimistic expectations from institutions such as Standard Chartered Bank.
Today, let's break down this market movement, see what the bulls and institutions are laying out, and share some observations and strategic thoughts.
BTC: Bulls are in control, aiming for $128,000.
In the past few weeks, the performance of Bitcoin has been thrilling and exciting. The price first broke through $121,200 and quickly reached a historical high of $123,973. Currently, BTC stabilizes above $122,000 and operates above the 100-hour simple moving average, with technical indicators showing a clear short-term bullish advantage.
From the chart, the BTC/USD hourly level has formed an upward trend line, with a support level at $120,200. If the price can successfully break through the resistance zone at $124,000, the next target for the bulls is expected to aim directly at $125,000 or even $128,000. The MACD bullish histogram is expanding, and the RSI is stable above 50, supporting the expectation of a short-term continuation of the upward trend.
However, the market will not always rise unidirectionally. If BTC cannot break above $124,000, it may first retrace to $122,750 or $120,200, and if it falls below $118,500, the short-term adjustment pressure will become significant. Nevertheless, the overall pattern remains bullish.
ETH: Institutions are bullish, and it may aim for $7,500 by the end of the year.
After talking about BTC, let's take a look at Ethereum.
This 'king of altcoins' surged 29% in the past week, with the price approaching the historical high of $4,878. Currently, ETH is stable above $4,600, which has become a key support level. Once it breaks the historical high, ETH will enter a new price discovery phase.
Standard Chartered Bank has significantly raised its year-end target for ETH, from $4,000 directly to $7,500, and predicts it could reach $25,000 by 2028. Their logic mainly includes:
Ethereum ETF approved: Daily capital inflows once reached $1 billion, with a total inflow of $8.2 billion this year, significantly enhancing market liquidity.
U.S. legislative benefits: The (GENIUS Act) and (CLARITY Act) have been implemented, providing policy support for stablecoins and the DeFi ecosystem.
Institutions continue to increase their positions: Public companies and institutions collectively hold about 865,000 ETH, showing confidence in long-term value.
Analyst VirtualBacon believes that if BTC approaches $150,000 and the ETH/BTC ratio rises to 0.044, then ETH has a chance to hit the $6,000–$7,000 range this year. Unless BTC experiences a significant pullback, $3,350 will be a potential bottom, and a break above $4,850 will become a key signal to ignite the upward trend.
As of the time of writing, the trading price of ETH is $4,750, up 2.8% in 24 hours, and the short-term bullish momentum is still being released.
Altcoins and market sentiment: It’s not just BTC and ETH that are moving.
With the market driving force, mainstream coins like BNB, SOL, and ADA have also recorded varying degrees of increase. Short-term directions worth noting include:
Stablecoins and DeFi ecosystem: Stablecoins like USDC and USDT are active in the Ethereum ecosystem, driving on-chain liquidity and indirectly supporting altcoin trends.
Institutional asset allocation: Institutions are incorporating ETH and other blue-chip coins into their portfolios, with a notable bottoming effect from large funds during a bull market.
Technical indicator reference: MACD and RSI can still help assess the depth of corrections and the timing of rebounds during consolidation.
Operation summary: Short-term fluctuations are large, but the long-term trend remains bullish.
BTC: In the short term, it may oscillate in the range of $122,000–$124,500. A break above $124,000 may aim for $128,000.
ETH: Key support at $4,600. If it breaks above $4,850, a new round of increases will begin, with a year-end target of $7,000–$7,500 or even higher.
Capital inflow: Increased ETF and institutional buying enhance market liquidity, which is very beneficial for medium to long-term trends.
Risk warning: Although the bulls are strong, corrections can occur at any time, especially if BTC encounters resistance or the macro environment weakens.
In summary: Short-term fluctuations are like riding a roller coaster, but the bullish trend remains robust. BTC, ETH, and some mainstream altcoins may continue to set new highs. Maintain patience, control positions, and go with the trend to stabilize profits amidst the volatility.