ETH Steals the Spotlight While BTC Consolidates Around 116K Resistance

BTC Faces Congestion Near 116000 Level

Bitcoin’s recent price action reveals a concerning lack of follow-through. After being turned away shy of the 116000 threshold yesterday, BTC retreated and continues to tread water. The downside structure remains intact for now, suggesting the bulls haven’t lost complete control. The critical question hanging over the market: will buyers manage to absorb the heavy selling that typically emerges above 116000? Price discovery should ultimately continue northward, but the path forward depends heavily on breaking through this congestion zone cleanly.

Ethereum Outpacing Bitcoin With Better Resilience

In sharp contrast, Ethereum is painting a more convincing technical picture. ETH is displaying notable outperformance with significantly reduced downside vulnerability compared to BTC. The key near-term objective remains the 3800 support test—if it holds, confidence builds. One caveat worth monitoring: a rally that accelerates too quickly could trigger bearish divergences on the charts. The 4000 level remains the pivotal resistance where serious sellers will likely park their orders.

SEC Staking Approval Sparks Altcoin Rally

Yesterday’s regulatory green light from the SEC regarding Ethereum staking triggered an immediate wave of enthusiasm across the entire staking ecosystem. Notably, the market has embraced the participation of shell entities in staking arbitrage strategies, signaling growing appetite for yield optimization. This policy shift could temporarily amplify demand for staking tokens. The beneficiaries appear clear: LDO, ETHFI, and JTO are positioned to capture this positive momentum.

Current Market Snapshot

• BTC: $87.58K (-0.28% in 24h) - holding above key supports but lacking upside conviction
• ETH: $2.93K (-0.50% in 24h) - showing relative strength despite modest daily decline