BTC Price Tops $118K Amid ETH Slide Below $3,700
BTC price briefly topped $118,000 on OKX, peaking at $118,016 before a mild pullback of 0.26% in 24 hours. Traders noted balanced buy-sell volumes as the market absorbed recent gains. BTC price finds key support near $117,000, with resistance around $119,000. Meanwhile, Ethereum slid below $3,700, dropping 2.93% amid profit-taking. Sell orders intensified at this level, pointing to a risk-off shift. Short-term indicators suggest further pressure on ETH toward $3,650 support, though a rebound is possible if it holds. Long-term recovery hinges on macro catalysts, institutional flows and network upgrades.
Neutral
While BTC price briefly reached a new intraday high above $118,000, the modest pullback and balanced trading volumes suggest cautious optimism rather than a decisive trend shift. The simultaneous slide in Ethereum below $3,700 highlights prevailing profit-taking and heightened volatility. In the short term, traders may react to ETH’s downward pressure and watch BTC’s support at $117,000 for signals. Over the longer term, stability will depend on broader market catalysts such as macroeconomic data, institutional inflows, and upcoming network upgrades. The mix of bullish momentum for Bitcoin and bearish pressure on Ethereum points to a neutral overall impact on market sentiment.