Bitcoin Weakens to $112K on ETF Outflows; Altcoins Poised
Bitcoin faced fresh selling pressure near $115,000, pulling back to key support around $112,000. US spot Bitcoin ETFs recorded a net outflow of $323.5 million, while Ethereum ETFs saw $465 million withdrawn. Despite this, corporate treasuries added over 600 BTC on dips, and on-chain whale purchases supported ETH. In response to Bitcoin’s consolidation, select altcoins are preparing potential rallies. Litecoin (LTC) bounced off $107 and now trades near $122; a breach of $130 could target $140. Cronos (CRO) reclaimed its 20-day SMA at $0.13, eyeing $0.15, $0.17 and $0.19. Ethena (ENA) held the 20-day SMA at $0.54, with upside levels at $0.70, $0.82 and $0.96. Mantle (MNT) formed an inverse head-and-shoulders pattern; a sustained move above the $0.85 neckline may drive it to $1.06 and $1.15. Traders should watch Bitcoin’s 20- and 50-day moving averages and key altcoin breakout levels for short-term momentum.
Bearish
ETF outflows of $323.5 million and record withdrawals from Ethereum ETFs signal institutional caution, increasing downward pressure on Bitcoin. The price pullback from $115,000 to $112,000 and bearish technical indicators suggest limited upside in the near term. Corporate treasury buys and whale support offer some stability, but net outflows outweigh inflows, leading to a cautious outlook. In the long term, if Bitcoin holds key support levels and resumes inflows, momentum could recover, but current data points to a bearish bias.