Bitcoin’s breakthrough above $118,000 has ignited widespread bullish sentiment across cryptocurrency markets, creating potential upside for Ethereum and select altcoins. Strong institutional inflows and positive market dynamics are reinforcing the upward trajectory.
Technical analysis indicates Bitcoin could target $150,000 following its historic rally, with critical price support established at $110,530. Current RSI readings show overbought conditions, suggesting the possibility of consolidation despite prevailing optimism.
U.S. spot Bitcoin ETFs recorded $1.17 billion in daily inflows – the second-largest single-day influx on record. Concurrently, approximately $570 million in short positions were liquidated market-wide, intensifying upward price momentum.
Ethereum capitalized on the market surge by decisively breaking through its $2,879 resistance level. The second-largest cryptocurrency now eyes $3,153 as its next target, potentially extending gains to $3,750. Maintaining current progress requires holding critical support levels at $2,879 and $2,733.
Several altcoins exhibit bullish technical structures amid the broader rally. Hyperliquid (HYPE), Uniswap (UNI), and Sei (SEI) demonstrate promising setups for potential upward moves if they overcome key resistance barriers.
While overbought RSI readings on shorter timeframes indicate susceptibility to minor pullbacks, the overall market outlook remains decisively bullish across major digital assets.