Crypto Markets Today: BTC Reclaims $111K, ETH Tops $4K After Last Week’s Sell-Off
Bitcoin and Ether rebounded above key support levels following a major sell-off, signaling improving market sentiment.Summary
The cryptocurrency market experienced a broad recovery on Monday, with Bitcoin (BTC) reclaiming the $111,000 level and Ether (ETH) moving back above $4,000 after a significant sell-off last week that wiped out $500 billion in market value. While this eased fears of further downside, both BTC and ETH must hold their support levels at $110,000 and $4,000, respectively, to prevent a continuation of the downtrend, especially given low liquidity. Derivatives positioning remains bullish, with significant call option concentration in BTC at the $140K strike and similar bullish bets for ETH. Altcoins showed strength, notably LINK jumping 14% following large wallet accumulations and FLOKI gaining 27%, though the overall altcoin season index remains low at 26/100, suggesting investor preference still leans toward Bitcoin dominance, which currently stands at 58.8%. Despite the rebound, market sentiment remains cautious, reflected by the Crypto Fear & Greed Index resting at 30, indicating "fear."
(Source：CoinDesk)