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Factors Influencing BTC and ETH Trends This Week
Bitcoin (BTC) and Ethereum (ETH) continue to exhibit dynamic price movements, reflecting evolving market conditions and investor sentiment.
Bitcoin (BTC) has been trading within a range of $92,000 to $99,500 this week, with efforts to breach the critical $100,000 psychological resistance.
The price has rallied approximately 4% during this period, driven by significant inflows into U.S. spot Bitcoin ETFs, which surged to $908.1 million after initial outflows, signaling growing investor confidence.
Market sentiment appears to be stabilizing, with reduced selling pressure suggesting potential consolidation or an upward trajectory if the resistance is overcome.
However, technical analysis reveals low trading volume on the daily timeframe, indicating a lack of decisive momentum to break through current resistance or support levels.
Ethereum (ETH) has experienced price fluctuations, reaching a weekly high of $3,329.34 and a low of $3,192.59, with its current trading price hovering around $3,278.58.
The market is closely watching whether ETH can consolidate above the $3,570–$3,720 resistance zone.
Ethereum’s price movement remains strongly correlated with Bitcoin, meaning any significant shifts in Bitcoin’s momentum could directly influence ETH’s trajectory.
Technical indicators show bullish momentum, with the 50-day moving average trending upward.
However, Ethereum remains volatile, with its short-term direction hinging on broader market dynamics and its ability to sustain positive momentum.
Both assets remain at critical junctures, with Bitcoin’s resistance at $100,000 and Ethereum’s struggle to break out of its current range serving as key points of focus for traders and investors.
Market developments, including ETF flows and technical trends, will likely shape their near-term performance.
Ryan Lee, Chief Analyst at Bitget Research
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
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