Bitcoin Eyes New All-Time High Amid Selling Pressure Near $123,218
Main Idea
Bitcoin is facing selling pressure near $123,218 but could reach a new all-time high if it stays above $117,000, while Ether shows strength above $4,094. Institutional interest in Bitcoin is growing, with significant ETF inflows.
Key Points
1. Bitcoin is trading at approximately $122,335, with resistance at $123,218; maintaining above $117,000 could lead to a new all-time high.
2. Ether remains strong above $4,094, indicating potential for further gains.
3. Institutional investors are showing growing confidence, with Bitcoin ETFs recording net inflows of $91.55 million.
4. The S&P 500 Index regained its 20-day moving average, signaling bullish sentiment, while the US Dollar Index seeks support above 99.32.
5. Other cryptocurrencies like XRP, BNB, Solana, Dogecoin, and Cardano are also showing bullish momentum, with key resistance levels to watch.
Description
Bitcoin is currently facing selling pressure near $123,218, but if it maintains above $117,000, it is poised to reach a new all-time high. Bitcoin’s price is currently above $120,000, indicating
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