Bitcoin Nears $110K Support: ETH, BNB, LINK, MNT Eye Bounce
Bitcoin price is approaching the critical support level at $110,530 amid profit-taking by short-term traders. According to Bitfinex analysts, BTC may remain range-bound until stronger macro catalysts emerge, even as some forecasts anticipate a slide toward $100,000. Meanwhile, altcoins have paused as Bitcoin’s uncertainty drags on the broader market. Ethereum’s spot ETFs recorded $196.7 million in outflows, yet traders predict a rebound above $8,000 if Bitcoin price recovers. If Bitcoin price rebounds off $110,530, select altcoins could post significant gains. Technical analysis shows Bitcoin’s next support lies around $112,000 on the 4-hour chart, with a breakdown risking a drop to $100,000 and below. A successful bounce could reignite rallies in Ether (ETH), Binance Coin (BNB), Chainlink (LINK), and Mantle (MNT). ETH is testing its breakout level at $4,094, BNB faces resistance at $861–$869, LINK is capped at $27, and MNT aims to clear $1.42. Analysts suggest breaks above key moving averages would signal renewed bullish momentum for these altcoins. Traders should monitor Bitcoin’s behaviour at $110K to gauge potential entry points across major cryptocurrencies.
Neutral
Although Bitcoin price has slipped toward the key $110,530 support and pressures on short-term traders are mounting, the lack of decisive macro catalysts and mixed technical signals suggest a period of consolidation rather than a clear directional move. Historical declines into major support levels have often resulted in brief rebounds before confirming trend direction. Similarly, altcoins have paused, awaiting Bitcoin’s lead. The current outlook combines bearish risks if support fails and bullish potential if a rebound occurs, leading to a neutral stance. Traders should monitor Bitcoin’s behaviour at $110K, as a break below could signal further downside, while a hold and recovery would likely revive broader market rallies.