Ethereum saw a surge in institutional buying, with $420 million in ETF inflows — double that of Bitcoin ETFs — potentially signalling a trend reversal.
Bitcoin price hovered around the $95,750 support level on Monday morning, as news of potential 25% tariffs on steel and aluminium emerged. Edul Patel, CEO of Mudrex, highlighted that Bitcoin might retest the previous low of $91,000 if selling pressure persists. On the upside, breaking resistance near $96,750 could push Bitcoin toward $98,500.
Meanwhile, the CoinSwitch Markets Desk observed Bitcoin’s resilience after bouncing back from a false breakdown below $96,200. This positive momentum, if sustained, could signal the end of the recent correction phase. Ethereum also showed signs of recovery, though the ETH/BTC ratio continues to reflect institutional preference for Bitcoin over altcoins.
A notable development came from the Central African Republic, where the country launched its own memecoin, CAR, via the memecoin trading platform Pump.fun. The move marks an experimental foray into digital currencies for the second nation to adopt Bitcoin as legal tender.
Avinash Shekhar, Co-founder and CEO of Pi42, emphasized investor confidence amid volatility. He pointed out that Bitcoin holding the $96,000 level is crucial for fostering bullish sentiment. Falling below this threshold could spur bearish trends. Despite macroeconomic pressures, Ethereum appears stable, with traders watching developments from the Ethereum Foundation.
Sathvik Vishwanath, CEO of Unocoin, provided a technical outlook, noting that Bitcoin’s price stood at $96,413 on February 9, 2025. He observed mixed signals from charts, indicating both short-term bearish pressure and potential long-term support. A breakout above $98,500 could trigger gains, while failure to hold $95,500 might lead to declines toward $92,000.
Shivam Thakral, CEO of BuyUcoin, highlighted a pivotal move by the SEC as it reviewed Grayscale's amended application for a spot Solana ETF. This decision, a departure from previous rejections, could attract significant institutional interest and potentially spark an altcoin season.
The CoinDCX Research Team also noted that, despite recent declines from the $100,000 mark, some altcoins like Cardano and Chainlink are showing signs of reversal, driven by bullish community sentiment.
As market dynamics shift, crypto investors continue to balance fear and optimism, awaiting clearer trends amid economic uncertainty.
