Bitcoin has managed to maintain its price above $105,000, spurred on by significant investments in spot Bitcoin exchange-traded funds (ETFs), which have seen inflows totaling $1.37 billion for the week. As traders speculate on a potential rise toward $110,000, altcoins such as HYPE, AAVE, BCH, and OKB are positioned to follow suit if Bitcoin can sustain this price level. Analysts have noted that Bitcoin's recent trading activity resembles a Doji candlestick pattern, signaling a current indecision in the market. Looking towards the future, experts forecast a bullish trend for Bitcoin, estimating that it could reach between $140,000 and $270,000 by 2025.
Despite external geopolitical tensions, including the Israel-Iran conflict, investor sentiment remains steady, as indicated by the resilience of Bitcoin's price. On a technical level, Bitcoin is showing support near its 50-day moving average at around $103,604, while encountering resistance at the 20-day exponential moving average at approximately $106,028. If Bitcoin can break through this resistance, it could propel the price toward $110,530 or even higher, sparking altcoin growth.
For HYPE, after a recent struggle to maintain above $42.50, a breakout above $44 could trigger a rally to $50. Conversely, should prices dip below $36.96, it may lead to a correction down to $32.50. Similarly, Bitcoin Cash (BCH) is attempting to overcome resistance at $462, a level that, if surpassed, could see the price rise toward $500.
Aave (AAVE) needs to rebound from its current level around $269, with a potential rise towards $325 if upward momentum can be regained. Meanwhile, OKB is trapped in a descending channel, facing resistance at $56, with a crucial support level at $49 that bears will aim to defend.
Despite external geopolitical tensions, including the Israel-Iran conflict, investor sentiment remains steady, as indicated by the resilience of Bitcoin's price. On a technical level, Bitcoin is showing support near its 50-day moving average at around $103,604, while encountering resistance at the 20-day exponential moving average at approximately $106,028. If Bitcoin can break through this resistance, it could propel the price toward $110,530 or even higher, sparking altcoin growth.
For HYPE, after a recent struggle to maintain above $42.50, a breakout above $44 could trigger a rally to $50. Conversely, should prices dip below $36.96, it may lead to a correction down to $32.50. Similarly, Bitcoin Cash (BCH) is attempting to overcome resistance at $462, a level that, if surpassed, could see the price rise toward $500.
Aave (AAVE) needs to rebound from its current level around $269, with a potential rise towards $325 if upward momentum can be regained. Meanwhile, OKB is trapped in a descending channel, facing resistance at $56, with a crucial support level at $49 that bears will aim to defend.
