Market Overview
Bitcoin is trading around $115,400, staying above the critical $114,000 support level. This supports short-term positive market sentiment, and despite low volumes, maintaining support keeps investor confidence intact and suggests upward potential may continue.
Ethereum is trading around $4,522. While spot ETF outflows may create short-term pressure, institutional buying and growing interest in Layer 2 networks support ETH’s medium-term resilience.
Overall, the market shows a cautiously positive outlook; fund inflows and institutional demand could drive new price momentum.
Key Developments
The Bank of England (BoE) proposes limits on stablecoin holdings: £10-20k for individuals and £10 million for businesses. The aim is to ensure financial stability.
France wants to limit the “license passporting” system for crypto firms under MiCA, citing regulatory gaps and differences in oversight that could be exploited.
SEC Chairman Atkins supports a “warning first, enforcement later” approach; most tokens are not securities, and he supports blockchain-based trading of tokenized assets.
Tether announced a new stablecoin, USAT, compliant with the GENIUS Act to strengthen its presence in the U.S. market.
ETH/USDT
The purple box, where the price is currently holding, is very important for the continuation of the positive market movement. Maintaining this support is essential for a potential second upward move. If the price drops below it, the turquoise box marked as number 2 will act as the next support, where buyers are expected to concentrate. Investors should closely monitor the purple box and be prepared for a possible retracement toward the turquoise area, which may serve as a new
accumulation zone and test market strength.