Bitcoin Struggles to Break $120,000 Amid Institutional Support and Market Caution
Main Idea
Bitcoin is struggling to break the $120,000 resistance level despite strong support at $116,000, while Ethereum's momentum stalls near $4,000 amid institutional inflows and regulatory developments.
Key Points
1. Bitcoin's price is fluctuating below $120,000 with strong support at $116,000, but resistance at $120,000 remains a challenge.
2. Ethereum shows neutral momentum near the $4,000 psychological level, influenced by mixed market conditions.
3. Institutional inflows and positive regulatory developments in the US are supporting crypto adoption but have not yet driven prices past key resistance levels.
4. Upcoming US inflation and employment data, along with Federal Reserve policies, will be critical in shaping near-term crypto market trends.
5. Market sentiment remains cautious, with risks such as a potential USD short squeeze affecting crypto and other risk assets.
Description
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