Bitcoin has surged past $106,000, signaling strong bullish momentum as it approaches its all-time high of $111,980. This rally occurs alongside declining exchange inflows on Binance, suggesting reduced selling pressure and heightened investor conviction in holding the asset longer-term.
Most major altcoins including Ethereum (ETH), XRP, and Cardano (ADA) continue consolidating in sideways trading patterns. Despite ETH’s price stagnation, blockchain data reveals notable accumulation by large holders, indicating strategic positioning amid the stagnant market conditions.
Hyperliquid (HYPE) has emerged as a standout performer, breaking above the critical $44 resistance level to resume its uptrend. This contrasts with broader altcoin sluggishness as market participants await clearer directional signals.
Technical analysis indicates Bitcoin’s potential inverse head-and-shoulders pattern could target $146,892 if bullish confirmation occurs. Current market consolidation reflects cautious sentiment amid macroeconomic uncertainty, with critical support and resistance thresholds likely dictating future trends across the cryptocurrency landscape.