Crypto Weekly: Bitcoin Holds Steady as Ethereum Leads Gains

The cryptocurrency market showed resilience in the week ending July 4, with Bitcoin hovering around US$108,000 and Ethereum rising to US$2,515. Both currencies are influenced by institutional interest and market dynamics. Analysts note key technical levels for potential future rallies while macroeconomic uncertainties loom.

In the week leading up to July 4, the cryptocurrency market exhibited a mixed yet resilient performance. Bitcoin, staying near the US$108,000 mark, and Ethereum surged past US$2,500, thanks largely to strong institutional interest and dynamics in the options market.

Bitcoin had a moment of excitement midweek, even hitting highs above US$110,000. This surge was mainly due to impressive inflows into spot Bitcoin exchange-traded funds (ETFs), with total assets under management approaching US$50 billion. However, the momentum took a hit on July 4. A stronger-than-expected US jobs report and fresh concerns over trade policy pulled Bitcoin back, causing it to finish the week at around US$108,165, slightly down from its peak.

Analysts are eyeing a critical resistance level at US$114,000. A decisive break above this could set the stage for a rally potentially reaching US$143,000, although support remains notably solid at around US$106,000.

On the other hand, Ethereum outperformed its counterparts, rising approximately 6% to 7% over the week, finishing near US$2,515. The second-largest cryptocurrency crossed crucial resistance at US$2,520, supported by renewed staking demand and increasing interest from institutional investors. Experts also cited bullish options positioning as well as a developing recognition of Ethereum as a foundational asset in the decentralized finance space.

In the altcoin sector, early signs of a following trend emerged, with coins like Solana, Arbitrum, Uniswap, and Pepe showing helpful gains. This raises speculation about a possible upcoming “altseason.”

Looking ahead, the week highlighted the critical role institutional demand plays in steadying crypto markets, especially with ETFs like BlackRock’s IBIT. But it’s worth noting the ongoing macroeconomic factors, including uncertainties in US fiscal policy and the risk of new tariffs, which could introduce more volatility soon.

For the moment, investor sentiment is cautiously optimistic. All eyes are on Bitcoin’s US$114,000 breakout point and Ethereum’s capacity to maintain levels above US$2,520.