Key points:
Bitcoin’s rally through $79,500 opens the door to a move toward $84,000.Ether, Dogecoin and Hyperliquid are showing strength, but the other major altcoins are yet to pick up momentum.
Bitcoin (BTC) opened the new week with a rally above $80,500, suggesting the bulls are attempting to take charge. Analysts are closely watching the $80,000 level, as some believe a failure to close above it could trigger a move toward $60,000.
However, crypto analyst Matthew Hyland said in a post on X that traders calling BTC’s fall to $60,000 and lower ‘will be the ones flipping bullish late above $90K.”
BTC’s 30-day liquidation map shows that a rally above $84,000 would trigger $2.85 billion worth of short liquidations across all exchanges.
Crypto market data daily view. Source: TradingView
A positive sign for the bulls is that BTC’s rise continues to be supported by institutional investors. Capriole Investments founder Charles Edwards said in a post on X that institutions have been “slurping up 500%+ of Bitcoin’s daily mined supply.” Such instances in the past have boosted prices by more than 24% in the following month. If history repeats, BTC may surge to around $96,000.
Could BTC and the major altcoins sustain the breakout? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index price prediction
The S&P 500 Index (SPX) remains in a strong uptrend, rising to a new all-time high of 7,272 on Friday.
SPX daily chart. Source: Cointelegraph/TradingView
The upsloping 20-day exponential moving average (7,043) indicates an advantage to buyers, but the relative strength index (RSI) near the overbought zone signals that a minor consolidation or correction is possible in the near term.
The 7,000 level is the crucial support to watch out for on the downside. A solid bounce off the 7,000 level suggests that the bulls have flipped it into support. That improves the prospects of a rally to 7,500.
On the contrary, a close below the 7,000 support may sink the index to the 50-day simple moving average (6,827).
US Dollar Index price prediction
The US Dollar Index (DXY) has been stuck between the…
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