The broader reflects this enthusiasm with the overall capitalization increasing by 1.74% to reach $3.97 trillion. Altcoins followed Ethereum’s lead, with BNB gaining 6.7%, Solana rising 3.3%, Avalanche climbing 5%, and Dogecoin increasing 2.6%. Other notable digital currencies mirroring this widespread market optimism included XRP, Cardano, and Chainlink.
Bitcoin’s recent movement has formed what technical analysts call a “cup-and-handle” structure – a bullish indicator. While resistance near $120,000 poses a hurdle, the setup suggests a potential climb toward $130,000. Analysts have identified support levels at around $116,411 and $115,000, indicating a possible short-term consolidation before a decisive breakout.
ETF inflows continue to play a critical role across the market. Institutional interest is growing, particularly in Ethereum, as investors diversify from Bitcoin in pursuit of higher returns. This shift is boosting other altcoins as well, a trend seen in past Ethereum-led cycles.
Macro signals are also working in crypto’s favor. Recent easing of and stronger global liquidity have pushed digital assets higher. After rebounding from $114,500, Bitcoin now eyes a close above its 10-day moving average. If buying momentum continues, analysts expect a breakout above $125,000 in the future.
