Bitcoin (BTC) saw a strong rebound after yesterday’s decline, with prices stabilizing as we enter the second half of the week. While Bitcoin has shown significant weakness over the past two weeks, the $78,000 area has consistently formed a strong support level, reinforcing the uptrend despite the prevailing uncertainty.
Although the bulls have not yet regained full control, continued price stability at current levels may gradually weaken the bearish momentum. If sellers start to decline, it could pave the way for a more sustainable upward movement, giving the bulls a strategic advantage in the near term.
Technical outlook: key levels of Bitcoin worth following
From a technical perspective, the $78,000 level remains a critical support area. A certain breakdown below this zone could accelerate selling pressure, which could push prices towards $70K. On the other hand, as long as Bitcoin maintains the support level, bullish accumulation may strengthen, increasing the likelihood of breaking out higher levels.
For long-term investors, any declines still represent strategic buying opportunities, provided risk management is applied. Placing stop losses below $70K ensures protection against deep corrections, while allowing traders to profit from any potential retracements.
As market sentiment changes, all eyes will be on whether Bitcoin can sustain its recovery and rise, or whether the bears will try to regain control.
Ethereum (ETH) has shown unexpected resilience over the past 24 hours, although downward pressure continues. However, the critical $2,000 level remains the main obstacle. With support at this area already breached, the bulls face an uphill battle – unless Ethereum manages to regain this level in the coming days, the market could see a further decline.
Market warned as Bitcoin and Ethereum rebound
For now, bearish speculators are maintaining control, but reports of strong buying appetite at lower levels suggest that some investors are stepping in to raise funds. This may give short-term hope to the bulls, but a sustainable recovery depends on broader market sentiment and external catalysts.
Market sentiment and key levels worth following
The next step for Ethereum (ETH) will depend heavily on macroeconomic factors and regulatory developments in the United States, as well as how the broader cryptocurrency market interacts. Any signs of renewed weakness in the sector could intensify selling pressures, making it more difficult for Ethereum to regain momentum.
A decisive breakout above the $2,000 level will signal renewed strength, which could trigger a new buying wave. However, continued weakness and rejection at this key level could reinforce the downtrend, paving the way for further declines. Traders and investors should closely monitor price movement around this area, as it will likely determine the path of Ethereum in the short term.
Bitcoin regained the $82,000 mark, as the cryptocurrency market adapted to a cautious atmosphere. This latest rally came after a period of uncertainty, with Bitcoin currently trading at USD$82,428.32, an increase of 2.45%. However, market participants remain cautious, as various indicators reflect divergent investor confidence.
Market Performance Overview
Ethereum (ETH) saw a slight increase, currently priced at $1,912.68, an increase of 0.33%. Meanwhile, Binance (BNB) rose 0.95% to $555.28. On the other hand, Solana (SOL) fell slightly to $123.32, a decrease of 0.16%. On the other hand, XRP) rose 4.01%, to $2.1859, showing strong momentum among some altcoins.
Bitcoin’s dominance amid intense market fear
Overall, market movement suggests that Bitcoin remains dominant, significantly outperforming many alternative cryptocurrencies. This trend is reflected in the recent data of the altcoin season index, which stands at 13/100, confirming the Bitcoin season. This metric indicates that altcoins currently perform less than Bitcoin.
Intense fear still grips investor sentiment
The fear and greed index currently stands at 19, indicating intense fear among investors. This level indicates a cautious or risk-averse approach, as traders are still unsure of the short-term market direction. In general, intense fear indicates potential buying opportunities, while extreme greed may indicate market peak.
In addition, the Coin Market Cap 100 index, which tracks the top 100 cryptocurrencies, rose to USD$160.59. This represents a rise of 1.66%, indicating a moderate rebound in the broader cryptocurrency market. However, the recent price action suggests that traders are still reluctant to invest in riskier assets.
Cryptocurrency market capitalization and volatility (Bitcoin)
The total market capitalization of cryptocurrencies is currently $2.66 trillion, with a trading volume of $117.92 billion.
Notably, this comment was partly accurate for Ethereum’s ETFs, which saw low interest despite their launch last July. Bitcoin Traded Funds (ETFs) have attracted cumulative net inflows of $35.4 billion since January 2024. In contrast, Ethereum products have seen only net inflows of US$2.63 billion since July 2024.
Meanwhile, in response to Melker’s recent comments, Linda Jones argued that institutions would likely change their investment approach limited to Bitcoin and Ethereum. This is likely due to recent market conditions, where XRP has outperformed Bitcoin by 212% since November, and is up nearly 250% compared to Ethereum over the same period.
