Bitcoin’s 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 hope for a spot Bitcoin exchange-traded fund and news of a potential spot Bitcoin ETF in Hong Kong has further increased 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 possible. The S&P 500 Index has been on a tear, while the U.S. dollar index has started a deeper correction. Bitcoin’s momentum is slowing down, while Ether is on an upward journey towards $2,000. BNB broke above resistance and may face a major hurdle at $265. XRP broke above resistance and could rally to $1. Solana is struggling to sustain higher levels, while Cardano is in a strong recovery. Dogecoin bounced off strong support and may surge to $0.10. Toncoin has been trading above moving averages, indicating demand at higher levels.
