Bitcoin Surges Past $118,000, Potentially Boosting ETH and Select Altcoins Toward New Highs

Key Points

1. Bitcoin surpassed $118,000, with potential to reach $150,000, while critical support is at $110,530; RSI indicates overbought conditions.

2. US spot Bitcoin ETFs attracted $1.17 billion in inflows, marking the second-largest daily increase, and $570 million in short positions were liquidated, further driving prices up.

3. Ethereum broke above $2,879 resistance, targeting $3,153 and potentially $3,750, with support levels at $2,879 and $2,733 critical for maintaining momentum.

4. Altcoins like Hyperliquid (HYPE), Uniswap (UNI), and Sei (SEI) show promising technical setups, with potential rallies if key resistance levels are breached.

5. Overbought RSI readings on shorter timeframes suggest potential for brief pullbacks or sideways movement, but the overall market sentiment remains bullish.