Bitcoin is hovering around $95,000 as sentiment took a slight hit from news regarding the crypto market structure bill.
Bitcoin ETFs saw $100.1 million in net inflows on Thursday, while Ethereum ETFs reported $164.4 million in net inflows.
So far, so good for BTC!
Trader and analyst Skew said Bitcoin continues to show underlying supply, although it is weaker than in the previous US morning session.
He pointed to a significant oversupply near $98,000, which combined with unstable conditions is weighing on price action.
In contrast, Skew highlighted the $94,000-$95,000 area as critical support, marking previous consolidation lows on lower time frames and an active bidding zone.
Michael van de Poppe said Bitcoin was holding above a former resistance zone which has now become support.
As long as the price remains above the 21-day moving average, he considers the trend bullish, adding that a move towards the $100,000 level is likely only a matter of time.
Trader CyrilXBT said Ethereum continues to support a long-term bottom line thesis.
Trader PostyXBT said Solana remains largely unchanged from a month ago, with no decisive change in structure yet. He added that key levels still need to be reclaimed to confirm a bullish setup, with the first major test around $148.
Trader Popeye said that XRP’s four-hour chart still looks distributive on the higher time frame, but has locally broken the structure to the upside. This makes the next pullback important, as it could form a higher low.
The total market capitalization of meme coins fell by 3.9%, falling to $49.18 billion.
Galaxy Trading said Dogecoin broke out of a falling wedge but fully retraced the move, creating a potential long pattern. The $0.139 to $0.14 area was highlighted as a possible entry zone, with bullish targets near $0.15 and a stop-loss at $0.136.
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