Ethereum Rockets 8% as Bulls Target Highs; BTC, BNB, and SOL Face Sell Pressure

Bitcoin Holds Near $118K as ETF Inflows Surge for 10th Straight Day; ETH, XRP Extend Gains

Bitcoin remained stable near $118,300 on Wednesday, buoyed by a 10th consecutive day of net inflows into U.S. spot ETFs. Inflows totaled $799 million, led by BlackRock’s IBIT with a staggering $763 million, highlighting persistent institutional interest.

The largest cryptocurrency posted a modest 0.4% daily gain and is up 6.6% over the week. Ether (ETH) saw stronger momentum, jumping 6.7% in 24 hours to trade above $3,340 — up 20.5% on the week — as traders eye a push to fresh record highs.

XRP continued its breakout, climbing 6.4% to $3.09 and logging a 27% gain over seven days. Solana (SOL) rose 5% to $170, Dogecoin (DOGE) added 6% to cross $0.21, while BNB advanced nearly 3% to $708. TRON (TRX) also edged up 3.7% to $0.31.

Momentum across the crypto market remains strong, fueled by sustained ETF optimism and easing macroeconomic pressures. Softer U.S. CPI data helped calm investor concerns, reinforcing the bullish backdrop.

In broader markets, Asian equities slipped as traders recalibrated expectations for rate cuts, while gold ticked higher and the U.S. dollar continued to weaken. The dollar index (DXY) is down about 10% year-to-date — a tailwind for crypto and other risk assets.

Still, not all are convinced the rally will continue without pause. Analysts at QCP Capital noted that bitcoin’s momentum stalled slightly after surpassing $120,000, with new support forming between $114,000 and $118,000. They also warned of potential seasonal slowdowns and equity fatigue.

However, some remain firmly bullish. Ryan Lee, chief analyst at Bitget Research, said the current setup favors further upside.

“ETF demand, limited supply, and macro tailwinds like a weakening dollar and possible Fed cuts make a move to $150,000 by Q3 increasingly likely,” Lee noted.