Bitcoin and Altcoins Face Critical Support Levels Amid Market Movements
- Bitcoin (BTC) dipped below $115,000 but is seeing buying interest, with over 791,662 BTC accumulated by Treasury companies.
- In July, BTC rose more than 8%, while analysts predict a potential rally to a new all-time high above $123,218.
- Ether (ETH) saw net inflows of $5.43 billion in July from US Spot ETFs, up from $1.16 billion in June.
- XRP’s price has fluctuated around $2.95, with potential support at the 50-day SMA of $2.62 if it breaks below this level.
- BNB closed below the breakout level of $794 and is currently testing the 20-day SMA at $761.
The cryptocurrency market is witnessing significant fluctuations as Bitcoin tests critical support levels following recent dips below $115,000. Institutional interest in Ether continues to grow alongside notable movements in altcoins like XRP and BNB.
As Bitcoin aims for a rebound above its current resistance levels, the next key target remains at $123,218, while Ether’s inflows indicate strong institutional confidence in the market. (Source)
