Bitcoin Holds Steady at $115K Amid Mixed Market Sentiment
- Bitcoin (BTC) traded just above $115,000, experiencing a slight pullback after strong early-week performance.
- ETF inflows surged nearly 200% last week, with Bitcoin ETF inflows continuing for five consecutive days.
- Ethereum (ETH) is trading near $4,500, supported by institutional demand and tightening supply from exchange outflows.
- Glassnode noted that over 92% of Bitcoin’s supply is currently in profit, but buying conviction remains shallow.
- The Altcoin Season Index reached a three-month high, indicating potential rotation into higher-beta assets.
The current market dynamics highlight a division among traders regarding the sustainability of Bitcoin’s recent gains, driven by ETF support yet facing profit-taking pressures. The ongoing debate centers on whether the rally is robust or fragile as traders await U.S. Federal Reserve policy decisions.
With Bitcoin consolidating around $115K and Ethereum approaching key resistance levels, market participants are closely monitoring ETF inflows and profit-taking trends to gauge future movements.(Source)
