The cryptocurrency market is navigating a consolidation phase marked by mixed signals across major assets.
While Bitcoin (CRYPTO: BTC) trades below key resistance levels, Ethereum (CRYPTO: ETH) continues to draw strong institutional interest, highlighting diverging trajectories for the two largest cryptocurrencies.
What Happened: Bitcoin has seen only modest gains in recent days, stabilizing near $111,000 but still well below technical thresholds that typically signal renewed momentum.
Market data indicates that short-term buyers are active, though conviction remains limited.
According to Alex Kuptsikevich, chief market analyst at FxPro, "Perhaps we should not expect full-fledged enthusiasm among cryptocurrencies while BTCUSD is trading below its 50-day moving average," which currently sits near $115,000.
Technical analysts are also closely watching Bitcoin's support zones.
Research firm Fairlead Strategies pointed out that the asset is holding within the $108,300–$110,700 range but cautioned that any break lower could put the 200-day moving average at risk.
"If bitcoin breaks support, it would be short-term bearish, increasing risk to secondary support at the 200-day MA, now near $101.3K," Fairlead noted, while describing the broader pullback as a "healthy pause within the overarching long-term uptrend."
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Ethereum, meanwhile, is undergoing a period of correction but has retained a constructive long-term outlook.
Fairlead said that after meeting resistance near $4,866, Ether is now testing support around $4,000–$4,045, with indicators still pointing toward eventual new highs.
"The long-term outlook remains bullish following the recent breakout from a long-term triangle formation," the firm said.
One reason for optimism around Ethereum is the growing role of institutional participation.
Data from Derive.xyz shows that both exchange-traded funds and strategic reserve companies have accumulated significant amounts of ETH in recent weeks.
"Institutional adoption of ETH is building serious momentum," the firm said, noting that strategic reserve companies now hold nearly 4% of the total supply, a figure rapidly closing in on the 5.5% held by ETFs.
What’s Next: Macroeconomic events are also influencing sentiment.
A Bitunix analyst said that Donald Trump's legal challenge to U.S. tariff policy "injects significant uncertainty into global supply chains and markets," adding that Bitcoin has been oscillating between support around $109,000 and resistance near $114,000.
Broader on-chain data points to weak conviction among traders. Analytics firm Glassnode observed that "spot metrics indicate fragile demand," while Bitcoin Magazine CEO David Bailey attributed part of the recent stagnation to large sellers.
"The only reason Bitcoin is not currently at $150,000 is because of two massive whales," Bailey said.
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