Bitcoin surpassed its all-time high of $109K earlier this week, reaching a new high of $112K. Despite this, the price exhibits slight bullish momentum, suggesting a potential consolidation at this level for the short term.

Technical Analysis

The Daily Chart

Bitcoin has officially broken above its previous all-time high of $109K, establishing a new peak around the $112K region. This breakout underscores strong buyer interest and highlights the bullish sentiment that continues to fuel this cycle.

However, the recent price action suggests that bullish momentum is softening, with BTC beginning a minor pullback toward the broken $109K level. This area now acts as a crucial support zone. If renewed demand materializes at this level, Bitcoin could resume its upward trajectory toward the $115K mark and potentially higher.

Conversely, if selling pressure intensifies and the $109K level fails to hold, a deeper correction may unfold. In this scenario, a retest of the psychological $100K support becomes increasingly probable, potentially classifying the breakout as a bull trap, shaking investor confidence, and introducing volatility in the short term.

The 4-Hour Chart

On the 4-hour chart, BTC maintains a bullish market structure, with a clear sequence of higher highs and higher lows. The price has consistently respected an ascending trendline, which remains a key dynamic support.

Following the breakout, Bitcoin is currently retracing toward this trendline as well as the broken $109K swing high. This confluence zone will play a pivotal role in determining the next move. Should it hold, a renewed rally toward the $115K resistance zone becomes highly likely.

However, if Bitcoin fails to hold this level and breaks below the trendline, it would signal short-term weakness, opening the door for a correction toward the $100K range.

On-chain Analysis

By ShayanMarkets

While BTC has reached a new all-time high at $112K, a wave of profit-taking is naturally expected, particularly from short-term traders securing gains. However, a deeper look into on-chain metrics reveals a contrasting narrative among long-term holders, investors who have held BTC for over 150 days.

The LTH-SOPR has remained relatively low during this rally, especially when compared to the levels seen during Bitcoin’s surge to $73K in late-2024. Despite the price now being significantly higher, long-term holders are not showing signs of major profit realization. This indicates ongoing accumulation behavior, reflecting confidence in higher future valuations.

This divergence in behavior highlights that the current consolidation phase is likely driven by short-term holders and retail participants, rather than broader market distribution. If long-term holders continue to display conviction, Bitcoin is well-positioned to resume its uptrend following this short-term pause, with the potential to set new ATHs in the mid-term.

Ethereum has been struggling to reclaim the crucial 200-day MA of $2.7K, with the price roughly forming a double-top pattern.

The recent price action hints at potential corrective consolidation toward the $2.2K threshold, before attempting a breakout.

Technical Analysis

The Daily Chart

ETH has encountered strong resistance at the crucial 200-day moving average around $2.7K over the past week, reflecting a significant seller presence at this psychological level.

The asset has lost upward momentum and is currently displaying a double-top formation—a classic bearish reversal pattern. This structure signals increased profit-taking and distribution, suggesting a probable short-term corrective phase targeting the $2.2K support zone.

This retracement phase could serve as a healthy reset, attracting new demand at lower levels and providing the necessary momentum for a fresh breakout above the $2.7K resistance. Structurally, Ethereum remains confined between the 100-day and 200-day moving averages, setting the stage for a potential bullish breakout in the coming weeks.

The 4-Hour Chart

On the lower timeframe, Ethereum’s weakening bullish momentum is reflected in its price action within an ascending wedge, a bearish reversal pattern. This formation often signals diminishing buyer strength and increased seller dominance. Additionally, a clear bearish divergence between the price and the RSI indicator confirms this outlook, pointing to aggressive distribution near the current resistance.

If ETH breaks below the wedge’s lower boundary near $2.4K, a pullback toward the $2.2K level becomes the most likely scenario. However, an unexpected breakout above the wedge could trigger a short squeeze, fueling a renewed rally toward higher resistance levels.

Onchain Analysis

Ethereum continues to hover below a critical resistance range, keeping investors on edge about the likelihood of a bullish breakout. While price action alone has provided mixed signals, insights from the futures market shed light on underlying sentiment shifts that could shape the asset’s next major move.

One of the most telling indicators is the ETH Taker Buy-Sell Ratio, which measures whether aggressive market orders are dominated by buyers or sellers. Aggressive orders, those executed at market price, typically reflect urgency and strong conviction from market participants.

Recently, this ratio’s 14-day moving average has seen a notable decline, pointing to increased aggressive selling activity. This trend suggests that bears are regaining control, triggering a wave of profit-taking and distribution as Ethereum struggles near resistance.

If the selling pressure persists and the ratio continues trending downward, Ethereum could undergo a deeper correction, with the $2.2K support emerging as a likely target. However, if this aggressive selling is primarily driven by short-term players or “weak hands,” it could represent a healthy consolidation phase before a broader bullish breakout resumes.

In short, Ethereum’s next direction hinges on whether the current selling momentum intensifies or exhausts, in the face of growing mid-term demand.

After this historic week in which bitcoin skyrocketed past its January all-time high and set a new one, the asset’s price has retraced following Friday’s tariff statements by the POTUS.

Many altcoins have posted notable gains on a weekly scale, led by HYPE, while SUI and XRP have retraced the most from the larger caps.

BTC to $108K

It all began last Sunday evening when BTC broke out of its weekend calmness and shot up from $103,000 to almost $107,000. It faced immediate resistance there and was pushed south on Monday. The scenario repeated once again as the business week progressed, but the bulls took complete control of the market on Wednesday.

After a minor pullback, the cryptocurrency went hard on the offensive in the afternoon and jumped past $109,100 to market a new all-time high. The bears were quick to intercept and drove bitcoin back down to $106,500, but that was another short-lived correction.

By Thursday morning, BTC had resumed its run and skyrocketed to almost $112,000 (on Pizza Day) to register a new all-time high.

More volatility ensued on Friday when US President Trump recommended new tariffs against the EU, and bitcoin slipped by several grand almost immediately. It now trades at around $108,000 after a quiet weekend, but it’s still 4% up weekly.

Its market cap remains close to $2.150 trillion on CG, while its dominance over the alts is above 61%.

Volatile Alts

The altcoins seem to be led by a new megastar: HYPE. Its price charted a new all-time high on Friday, and even a compromised Hyperliquid X account couldn’t halt its momentum. It’s up by 30% on a weekly scale and has become the top performer.

AAVE follows suit with a 19% weekly jump, while XMR is third with a 17.7% such increase. PEPE and BCH are next in line.

In contrast, SUI has dropped by 5% since this time last Sunday, and XRP has slipped to $2.3 after a 2.8% weekly decline.

The total crypto market cap has shed around $30 billion since yesterday and is down to $3.5 trillion on CG.