Bitcoin Holds $118K Support, Altcoins Rally on ETF Inflows
Bitcoin holds key support at $118,000 after failing to breach its all-time high of $123,218, indicating strong demand at lower levels. Net inflows into spot Ethereum ETFs topped $1.01 billion on Monday, highlighting robust institutional interest.
Technical analysis shows Bitcoin trading above its 20-day SMA, with resistance at $123,218 and $135,000. A drop below $116,779 could trigger tests of support at $114,366 or $110,530. Key altcoins are also strong: ETH may test $4,868, with support at $4,094; BNB trades between $792 and $827, eyeing resistance at $861 and $900 or support at $732; LINK has broken past $22.70 toward $27 and $30; UNI bounced from $9.05, targeting $12 and $15.
Overall, Bitcoin’s firm support and rising ETF flows underpin a bullish outlook. Traders should monitor ETF inflows and Bitcoin’s resistance levels for short-term breakouts and potential entry points.
Bullish
Bitcoin’s ability to maintain support at $118K reflects strong buyer demand, while $1.01 billion net inflows into spot Ethereum ETFs signal growing institutional interest. This combination boosts market momentum and increases the likelihood of technical breakouts above key resistance levels. In the short term, traders may see renewed buying on dips and potential rallies toward $123K and $135K. Over the long run, sustained ETF flows and solid technical foundations could provide stability and gradual upside for Bitcoin and major altcoins. Therefore, this news is bullish for trading sentiment and price performance.