Bitcoin is battling resistance near $115K while Ethereum and other altcoins show signals of continued weakness.
- Bitcoin is struggling to stay above $115,000 amid selling pressure.
- Ethereum ETF outflows mark a cautious mood, but some firms are still buying.
- Altcoins like XRP and Solana are facing resistance and may fall further.
Bitcoin Tries to Hold Support
Bitcoin (BTC) is facing tough resistance around $115,000. Sellers are active, and the price dropped below key support at $112,000. The 20-day moving average is turning down, which shows more downside could be coming. If BTC falls below $110,530, it may drop to $105,000 or even $100,000. But if buyers step in and push the price above $117,000, it could rise toward $123,000.
Institutions Still Buying
Despite market worries, some companies are increasing their crypto holdings. Japanese firm Metaplanet bought 463 BTC at an average price of $115,895, raising their total to 17,595 BTC. SharpLink also bought over 30,000 ETH at an average price of $3,530, bringing their Ether total to 480,031. These purchases show some firms still believe in long-term growth.
Ethereum Faces Caution After Outflows
Ethereum (ETH) fell to key support levels between $3,422 and $3,300. The next test is the 20-day moving average at $3,652. If ETH goes above that, it could rise to $3,941 or $4,094. But if it drops below $3,354, it might fall to $3,013. Ethereum ETFs also saw $152 million in outflows, ending a 20-day inflow streak.
Altcoins Still Under Pressure
Top altcoins are showing signs of weakness. XRP bounced off $2.66 and may face resistance at $3.19. BNB recovered from $732 but must break above $769 to show strength. Solana (SOL) is range-bound between $155 and $179, with no clear direction. Dogecoin (DOGE) remains stuck between $0.14 and $0.29. Cardano (ADA) and Stellar (XLM) are also trading sideways.
ETF Outflows Signal Caution
On Friday, Bitcoin ETFs saw net outflows of over $812 million. This shows that many investors are being careful. The weak job market and slowing credit growth could be influencing this trend, as pointed out by Arthur Hayes, chief investment officer at Maelstrom Fund.
Source: cointelegraph.com
