Bitcoin price is consolidating near $35,000, with traders cautious but not rushing to exit.
Bitcoin withdrawals from exchanges have increased, indicating positive sentiment among traders.
The possibility of a spot Bitcoin exchange-traded fund approval by the United States Securities and Exchange Commission has further increased traders’ enthusiasm.
Altcoins such as Ether, BNB, XRP, Solana, Cardano, Dogecoin, and Toncoin are also showing signs of potential upward movement.
However, a short-term correction or consolidation may be expected in the near term.
The S&P 500 Index has been on a tear, with bulls pushing the price above key moving averages.
The U.S. dollar index has started a deeper correction, with support levels to watch.
Bitcoin is gradually rising within an ascending channel pattern, but momentum is slowing down.
Ether broke above resistance and may rally towards $2,000 and possibly $3,500.
BNB broke above resistance and may face a major hurdle at $265.
XRP broke above resistance and may rally towards $0.85 and $1.
Solana bounced off support but struggles to sustain higher levels.
Cardano has been in a strong recovery, with a potential rally to $0.38.
Dogecoin bounced off support and may surge towards $0.08 and $0.10.
Toncoin is trading above moving averages, with potential resistance at $2.59.
Investment advice should be based on individual research and risk assessment.