Bitcoin News Today: Bitcoin Near $120K Amid $6.6B ETF Inflows, Ether Sees Record $2.12B ETP Inflows as Altcoins Rally

Market analysts highlighted a resilient Bitcoin (BTC) trading near $120,000 amid persistent buyer pressure, with bears failing to drive the price below $115,000. Despite a $131.35 million net outflow in spot BTC ETFs on Monday, the 12-day inflow streak of $6.6 billion signals sustained accumulation. Ether (ETH) saw record inflows of $2.12 billion in exchange-traded products, reflecting growing institutional interest. Major altcoins, including XRP, BNB, SOL, DOGE, ADA, and HYPE, advanced on bullish momentum, suggesting the market is entering an altseason phase where smaller cryptocurrencies outperform the broader market.

The S&P 500 Index (SPX) rebounded above its 20-day EMA (6,218) on Wednesday, with buyers eyeing the 6,500 resistance level. Upsloping moving averages and an overbought RSI indicate bullish control, though a breakdown below the 6,147 support could trigger a pullback toward the 50-day SMA (6,054). A sustained move above this critical level would signal a potential bearish reversal in the near term.

The US Dollar Index (DXY) stalled at its 50-day SMA (98.56), with sellers extending control after pulling the price below the 20-day EMA (97.94). A decline to the 96.37 level appears likely, though a sharp rally above the 50-day SMA would invalidate the bearish outlook, opening paths for a recovery to 100.54.

Bitcoin’s buyers have maintained a floor near $115,000, with the 20-day EMA ($115,289) acting as a psychological barrier. A breakout above $123,218 could accelerate the price toward $135,729 and a projected $150,000 target. However, a drop below $110,530 may trigger defensive selling, potentially dragging the price toward $100,000.

Ether’s recent test of $3,745 failed to hold, with the price retreating to the $3,494–$3,381 Fibonacci retracement levels. A rebound from this zone could reignite the uptrend toward $4,094, while a breakdown below $3,381 risks a pullback to the 20-day EMA ($3,191). Analysts noted overbought RSI conditions as a cautionary signal for short-term volatility.

XRP surged past $3.40, with bulls attempting to convert the level into support. A move above $3.66 could extend gains to $4 and $4.86. However, an overbought RSI raises the risk of consolidation, and a close below $3.40 may confirm a bear trap, dragging the price toward $2.96.

BNB remains in a tight battle near $761, with buyers defending the 20-day EMA ($707) as a critical support. A breakdown below $732 could test this level, while a rebound suggests renewed buying interest for an eventual push toward $900.

Solana (SOL) broke through $185, with bulls aiming for $209 to resume the uptrend. Overbought RSI conditions indicate near-term corrections, but a rebound from $185 would validate the bullish case. A breakdown below this level risks a pullback to $170, where defensive buying is expected.

Dogecoin (DOGE) rose above $0.26, with sellers attempting to retest the level. A sustained rebound could push the price to $0.29 and $0.35, while a failure to hold above $0.21 may trigger a drop toward $0.26, testing the breakout’s validity.

Cardano (ADA) advanced past $0.86, but bears are testing its resilience at higher levels. A breakdown below the 20-day EMA ($0.74) could extend the decline toward $0.65, while a rebound from this level may set up a rally toward $1.17.

Hyperliquid (HYPE) rebounded from the 20-day EMA ($43.77), but profit-taking has limited gains. A move above $48 could target the $58 resistance, while a breakdown below $43.77 may accelerate the decline toward the ascending channel’s support line.

The analysis underscores a mixed technical landscape, with Bitcoin and major altcoins showing resilience against key resistances. Institutional inflows and Fibonacci retracement levels remain focal points for both buyers and sellers, while overbought conditions in several assets suggest short-term volatility. Investors are advised to monitor critical support/resistance levels and volume shifts as potential catalysts for trend continuation or reversal.