Bitcoin demonstrates resilience with potential for surging above $120,000 while Ethereum and Shiba Inu exhibit weakening momentum amid correction signals. Market movements reveal diverging trajectories across major cryptocurrencies as regulatory announcements inject fresh uncertainty.
Bitcoin retains strength near record highs, consolidating around critical $114,000-$116,000 support levels. Analysts indicate sustained trading above this range positions BTC for a decisive breakout beyond the psychological $120,000 barrier, signaling continued bullish sentiment.
Ethereum shows technical fatigue with declining trade volumes and deteriorating indicators. Immediate downside risks focus on support tests at $3,682, with failure potentially triggering accelerated declines toward $3,000. Simultaneously, Ethereum’s validator exit queue surged to its highest level since early 2024 following substantial withdrawals totaling $1.92 billion, hinting at strategic portfolio rebalancing.
Shiba Inu confronts crucial technical thresholds as it tests the 200-day Exponential Moving Average (EMA). Breakdown risks escalate if SHIB fails to hold current support, with subsequent levels at $0.000014 and $0.0000135 becoming focal points that could precipitate significant pullbacks.
The U.S. Securities and Exchange Commission (SEC) intensified regulatory scrutiny by temporarily suspending approval proceedings for Bitwise’s 10 Crypto Index ETF. This unexpected intervention underscores persistent governmental caution toward cryptocurrency investment vehicles despite industry expansion efforts.