Bitcoin hovers near $114,500, Ethereum struggles to break past $4,500
Bitcoin slipped to about $114,500 on Monday after briefly touching $118,000.
Ethereum held steady close to $4,300-$4,338 but struggled to break past resistance at $4,500.
The overall crypto market cap hovered around $3.97 trillion as everyone waited for big US economic updates and a speech from Fed Chair Jerome Powell.
Investors are optimistic about US interest rate cuts
Crypto investors are feeling upbeat thanks to hopes of US interest rate cuts and steady ETF inflows.
Edul Patel from Mudrex pointed out that over 420,000 ETH left exchanges last week—usually a sign that fewer people want to sell right now.
All eyes are on upcoming US jobless claims and inflation data for hints about the next market moves.
What are the experts saying?
Analysts say Bitcoin is finding support near $114K with resistance at $115.5K-$116K; Ethereum is bouncing between support at $4,300-$4,400 and resistance at $4,500.
Sathvik Vishwanath from Unocoin thinks if Bitcoin breaks through its current ceiling, it could head toward $125K soon.
Parth Srivastava at 9Point Capital adds that better liquidity and positive vibes could help prices climb after this sideways stretch.