Daily Crypto Signals: Bitcoin Surges Past $119K, Ethereum Breaks Key $2,800 Resistance
Bitcoin reached a new all-time high above $119,000 as institutional demand through ETFs surged, while Ethereum successfully broke through
Quick overview
- Bitcoin reached a new all-time high above $119,000, driven by record institutional demand through ETFs.
- Ethereum broke through the critical $2,800 resistance level for the first time in months, supported by significant institutional interest.
- Despite regulatory concerns and challenges faced by crypto firms, institutional inflows into cryptocurrencies remain strong.
- Technical analysts are optimistic about Bitcoin and Ethereum's future price movements, with potential targets set above current levels.
Bitcoin BTC/USD reached a new all-time high above $119,000 as institutional demand through ETFs surged, while Ethereum ETH/USD successfully broke through critical $2,800 resistance levels for the first time in months. Despite regulatory concerns from the Bank of England regarding stablecoins and challenges facing crypto firms like Ziglu, both major cryptocurrencies showed strong momentum driven by record institutional inflows.
Crypto Market Developments
This week, the cryptocurrency market was very volatile, with warnings from regulators and excitement from institutions. Andrew Bailey, the Governor of the Bank of England, gave strong cautions about stablecoins, saying they might damage the financial system and make it harder for governments to control their fiat currencies. Instead, Bailey pushed for tokenized deposits and was against the European Union’s effort for a central bank digital currency.
The British crypto fintech Ziglu, on the other hand, is $2.7 million in the red, which puts the interests of thousands of investors at danger. The Financial Conduct Authority stepped in in May and put the company into special administration, which froze withdrawals and kept savers from getting their money back. The company had promised high-interest returns through its “Boost” product, which offered yields of up to 6%.
Even with these problems, institutional demand stayed strong. For the first time, spot Bitcoin ETFs saw daily inflows of more than $1 billion for two days in a row. This rise in institutional interest is really different from retail participation, which is still very low even though Bitcoin has been doing so well.
Bitcoin Tests New ATH Above $119,000
Bitcoin reached another milestone this week, hitting a new all-time high of $119,444 on Bitstamp. This happened as the price of BTC became more volatile again at the end of the week. The most recent rise wiped out more than $20 million in short positions in just one hour, showing that the market is moving up. Daan Crypto Trades, a well-known trader, pointed out important liquidation zones to keep an eye on, such as $115,500–116,500 and the area over $120,000. He said, “We’ve got a lot of big liquidity clusters above and below the current price.”
Technical analysts are still hopeful about Bitcoin’s future. Trader BitBull points to several positive factors, such as record institutional inflows, the impending US “Crypto Week,” and reports that Federal Reserve Chair Jerome Powell would leave. The expert said that the price action was comparable to what happened in late 2024, which means that there is a chance for another 50% gain. Even if Bitcoin has hit all-time highs for the last few weeks, retail interest is still quite low. This is clear from the fact that there are very few Google searches for “Bitcoin.” RLinda, an analyst, says that Bitcoin needs to stay above $117,500 to keep going up toward $125,000. The significant resistance levels are $118,400 and $118,900, which are important breakout areas.
Ethereum Reclaims $3,000
Ethereum made a big jump this week, going back up to the $3,000 price level for the first time since early February. Before that, it had been trading below $2,800 for weeks. This breakout was helped by a lot of institutional interest. US-based Spot Ethereum ETFs had their greatest week since they started, with a total of $907.99 million coming in. On Thursday alone, $383.10 million came in, which was the most money that came in on a single day for any Ethereum ETF in 2025.
Merlijn’s technical analysis The Trader says that Ethereum’s daily chart shows a bull flag breakout after a falling wedge reversal that started in December 2024. The methodical move from this bull flag pattern suggests a target of $3,834, which is a lot higher than where we are now. According to Santiment’s on-chain data, 79.96% of all ETH tokens (124.13 million out of 155.04 million total supply) are now making money. This is the greatest percentage since January 2025.
Daan Crypto, an analyst, says that keeping prices above $2,800 is very important for keeping the current bullish structure. This level has been a strong barrier level for the past two years. If Ethereum can break and remain above this level, it could be able to reach its previous cycle peak of about $4,000.
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