Bitcoin May Attempt Breakout Amid Ethereum and Shiba Inu Showing Early Signs of Weakness

Key Points

1. Shiba Inu (SHIB) is testing the 200-day EMA, with risks of a significant pullback if support fails; key levels to watch include $0.000014 and $0.0000135.

2. Ethereum (ETH) shows signs of exhaustion with declining trading volume and technical indicators; critical support levels are $3,682 and $3,000.

3. Bitcoin (BTC) demonstrates resilience, eyeing a breakout above $120,000, with the $114,000-$116,000 range as critical support.

4. Ethereum's validator exit queue surged to its highest level since January 2024 amid $1.92 billion ETH withdrawals.

5. The SEC temporarily suspended approval of Bitwise's 10 Crypto Index ETF, indicating continued regulatory scrutiny.