Bitcoin and Altcoins Show Strength Amidst Market Volatility

Bitcoin Bulls Maintain Control Near $115,000

Bitcoin (BTC) continues to face resistance near $120,000, but buyers have kept the price above $115,000, indicating their dominance in the market. Despite a net outflow of $131.35 million in BTC exchange-traded funds on Monday, buyers remain confident in the ongoing upward momentum. Altseason seems to be in full swing as major altcoins attract significant buying interest.

S&P 500 Index Shows Bullish Signs

The S&P 500 Index (SPX) has bounced off the 20-day exponential moving average, indicating strong buying interest at lower levels. Bulls are likely to target the 6,500 level, but a break below the 6,147 support could shift the momentum in favor of sellers.

US Dollar Index Faces Selling Pressure

The US Dollar Index (DXY) hit resistance at the 50-day simple moving average, leading to a pullback below the 20-day EMA. A break below the critical 96.37 level could signal further downside for the index.

Altcoins in Focus: ETH, XRP, BNB, SOL, DOGE, ADA, HYPE

Ether (ETH) struggles to sustain a breakout above $3,745, while XRP (XRP) aims for higher levels above $3.40. BNB, SOL, DOGE, ADA, and HYPE all face key resistance levels as bulls and bears battle for control in the altcoin market. Overall, the cryptocurrency market remains volatile, with Bitcoin and select altcoins showing strength amidst ongoing price predictions and market fluctuations. As always, investors should conduct their own research and exercise caution when making investment decisions.