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Wall of Resistance at $113.5K Keeps Bitcoin Range-Bound
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Key takeaways
- Spot Bitcoin ETFs saw $241 million of inflows on Tuesday, while Ethereum ETFs logged $79 million in outflows for a third consecutive day of outflows.
- Bitcoin carved a double bottom at $111,115, testing resistance at $113,000 with higher lows hinting at a budding uptrend.
- ETH trades just above $4,000, a fragile threshold; reclaiming its accumulation zone is critical to avoid deeper losses.
- Macro backdrop: US new home sales surged 20.5% MoM to 800,000, beating expectations; China proposes housing sovereign gold reserves domestically.
- Wealth trends: 241,700 crypto millionaires now exist globally (+40% YoY); 36 billionaires hold $1 billion or more in digital assets.
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