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Bitcoin has hit a major milestone with its biggest weekly gain ever, rising by $11.6k in one week. This move is nearly five times bigger than usual weekly increases, showing strong bullish momentum. This rally highlights growing market optimism, with investors seeing upcoming regulations as a chance for more capital to enter the market.
Bitcoin retraced after reaching an all-time high, and the price is currently finding support along the uptrend line. The market structure remains bullish, suggesting we may see a move towards the $90,000 level. However, a drop below $85,000 could lead to a market correction.
ETHFI analysis: Price is currently testing a major support area. You can open a long position at this support level with a tight stop loss. We may observe a bounce from here towards the resistance area. Support Area: $1.15-$1.24 Resistance Area: $1.52-$1.59
Coinbase's daily Cumulative Volume Delta (CVD) chart shows a notable rise in buyer-side pressure. The current daily spot CVD stands at $143M, nearing the March 13 peak of $152M. Since July, every Bitcoin surge has been paired with strong buy-side interest on Coinbase, indicating solid spot market demand at one of the leading US exchanges.