Bitcoin Bulls Struggle at $115K: Price Predictions for Top Crypto

Crypto Market Faces Headwinds: Bitcoin Struggles, Altcoins Correct

Bitcoin (BTC) is battling to hold above $115,000, encountering strong resistance. Arthur Hayes, CIO of Maelstrom Fund, suggests that a weak credit market and slowing job growth could push BTC down to $100,000 and Ether (ETH) to $3,000.

US spot Bitcoin and Ethereum ETFs are reflecting investor caution, with Bitcoin ETFs reporting $812.25 million in net outflows and Ethereum ETFs seeing $152.26 million in outflows, ending a 20-day inflow streak, according to SoSoValue data.

However, some public companies are leveraging the dip. Metaplanet recently acquired 463 BTC at an average price of $115,895, increasing its total holdings to 17,595 BTC. Similarly, SharpLink purchased 30,755 ETH at an average of $3,530, bringing its total ETH holdings to 480,031.

Key Takeaways:

Bitcoin is testing support near $112,000, but higher levels may attract selling pressure.
Recent pullbacks in altcoins suggest the next upward move may be delayed.

Price Predictions: Top Cryptocurrencies and Traditional Assets

S&P 500 (SPX)

The S&P 500 reached a new all-time high before experiencing profit-taking. If bulls can push the price back above the 20-day SMA (6,306), a retest of the 6,427 high is possible. Failure to hold above the 20-day SMA could lead to a decline to the 50-day SMA (6,139).

U.S. Dollar Index (DXY)

The Dollar Index broke above its 50-day SMA but failed to sustain gains above 100.54. A break above this level could signal a recovery to 102. Conversely, a drop below the moving averages could send the index down to 97.10.

Bitcoin (BTC)

Bitcoin fell below the neckline of an inverse head-and-shoulders pattern but found support at the 50-day SMA ($112,262). A break below $110,530 could trigger a further drop to $105,000 or even $100,000. To regain control, buyers need to push the price above the 20-day SMA and retest the $120,000-$123,218 resistance zone.

Ethereum (ETH)

Ether is finding support between the $3,422 and $3,300 levels. A successful break above the 20-day SMA ($3,652) could lead to a rally towards $3,941 and $4,094. A drop below $3,354 increases the risk of a decline to the 50-day SMA ($3,013).

XRP

XRP rebounded from its 50-day SMA ($2.66) after falling below $2.95. A move to the 20-day SMA ($3.19) is possible, but further upside requires breaking above this level to reach $3.33 and potentially $3.66. A break below the 50-day SMA could signal a deeper correction to $2.40.

Binance Coin (BNB)

BNB dropped below its 20-day SMA ($769) and found support at $732. A break and close above the 20-day SMA suggests solid buying, potentially leading to $794 and $815. Conversely, failure to hold above $732 could see a fall to the 50-day SMA ($702).

Solana (SOL)

Solana was pulled below its 50-day SMA ($161), with indecisive moving averages. A break above the 20-day SMA ($179) favors the bulls, targeting $195. A close below $155 gives bears an edge, potentially leading to $144 and $137.

Dogecoin (DOGE)

Dogecoin remains range-bound between $0.14 and $0.29. A break below the 50-day SMA ($0.19) could push the price to $0.14. A close above the 20-day SMA offers the first sign of strength, potentially reaching $0.26 and $0.29.

Cardano (ADA)

Cardano bounced off its 50-day SMA ($0.68), indicating demand at lower levels. A sustained move above the 20-day SMA is needed for bulls to regain control. Failure to hold the 50-day SMA could result in a decline towards $0.50.

Stellar (XLM)

Stellar is attempting to rebound from the 61.8% Fibonacci retracement level of $0.34. A failure to break the 20-day SMA ($0.43) may result in a drop to the 50-day SMA ($0.33), with a potential plunge to $0.29 if that support fails. Buyers need to push the price above the 20-day SMA to target $0.46 and $0.49.