Bitcoin is encountering selling pressure near the $123,218 resistance level while trading at approximately $122,335. Market analysts indicate that sustained support above $117,000 could propel Bitcoin toward a new all-time high.
Ether demonstrates notable strength above the $4,094 support zone, signaling potential for continued upward momentum as bullish sentiment persists.
Institutional interest in Bitcoin is accelerating, evidenced by $91.55 million in net inflows to Bitcoin exchange-traded funds (ETFs). This reflects growing confidence among institutional investors in cryptocurrency assets.
Broader market indicators show positive trends, with the S&P 500 Index reclaiming its 20-day moving average. Meanwhile, the US Dollar Index is testing support above 99.32 amid shifting macroeconomic conditions.
Other major cryptocurrencies including XRP, BNB, Solana, Dogecoin, and Cardano exhibit bullish momentum, with traders monitoring key resistance levels for potential breakout opportunities.