Major cryptocurrencies are trading lower despite ongoing institutional demand and cooling inflation data.

Sentiment has shifted sharply, with the Crypto Fear & Greed Index entering the ‘Greed’ zone, raising questions whether this pullback signals a phase of profit-taking and consolidation following the robust rally over the past few weeks.

Major cryptocurrencies are trading in the red early Thursday, despite ongoing institutional demand and cooling inflation data. Sentiment has shifted sharply, with the Crypto Fear & Greed Index entering the ‘Greed’ zone.

This raises questions whether this pullback signals a phase of profit-taking and consolidation following the robust rally over the past few weeks.

Despite the near-term weakness, several analysts remain bullish on Bitcoin, with key support levels now closely watched.

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Trader Notes:

Bitcoin is finding key support around $101,600, according to crypto chart analyst Ali Martinez.

This level is significant as it coincides with the 50% Fibonacci retracement of the recent move from the March lows, and a break below this zone could signal further weakness, he adds.

Bitcoin appears exhausted after its climb to $105,000, with open interest returning to levels seen near previous all-time highs, observed trader Adam.

This suggests that leveraged longs are unwinding, and while the move from $80,000 suggests a solid base, this may not be an optimal time to open new long positions.

According to Martinez, Ethereum has closed above its 200-period simple moving average on the 3-day chart, currently standing at around $2,700.

Historically, such a close has marked the beginning of major bull rallies for ETH.

For Solana, analyst Crypto Zeinab notes that the coin is currently retesting the $180 breakout level. A successful bullish retest could pave the way toward $200.

Supporting this view, Glassnode data shows positive 30-day capital inflows of around 4–5% for SOL after months of outflows, signaling renewed interest from investors, now on par with XRP.

Bluntz Capital highlighted that Dogecoin is forming a textbook inverse head and shoulders (IHS) pattern. The breakout occurred with strong volume, and the current pullback is seen as a healthy consolidation, potentially setting up for more upside.