Bitcoin Short-Term Pullback Update

Chart: https://www.gate.com/trade/BTC_USDT

Today, Bitcoin’s price briefly retreated to around $110,000, declining by nearly 2.5% at its lowest. Analysts note that Bitcoin’s technical indicators show weakness and market sentiment remains bearish. During the Asian session, the price dropped to $108,666 before rebounding strongly. Overall, key support levels are being tested, and investors should exercise caution.

Altcoin Rally Overview

Compared to Bitcoin’s weakness, altcoins stood out with strong performance. Cronos (CRO), Numeraire (NMR), and Hyperliquid (HYPE) led gains, driven by bullish news and strong investor demand. These tokens have attracted significant interest from short-term investors.

Chainlink ETF Application Update

Notably, asset management firm Bitwise has filed an ETF application for Chainlink (LINK). If approved, the ETF may attract new capital and increase market attention to LINK, making it a potential focus for upcoming market activity.

Market Outlook and Summary

In summary, today’s crypto market shows Bitcoin under pressure while altcoins are rising. Technical indicators still suggest the risk of further declines. Institutional moves such as Bitwise’s Chainlink ETF application provide positive signals for the market. For new investors, it is important to monitor changes in Bitcoin’s key support levels. Also, keep an eye on altcoin and ETF-related developments to identify potential investment opportunities.