The demand for Bitcoin and Ethereum remained steady during yesterday's trading session. Despite significant selling at the start of the U.S. session, Bitcoin and Ethereum quickly rebounded. During today's Asian trading sessions, Bitcoin confidently returned to the $98,400 level, while Ethereum once again tested the key resistance level of $2,760.
Meanwhile, the number of applications for new crypto products based on BTC and ETH continues to grow rapidly. This indicates that the spread of blockchain technology is attracting increasing attention from institutional investors. Both potential investment profits and portfolio diversification opportunities fuel their interest. Specifically, BTC and ETH derivatives allow institutions to hedge risks associated with other asset classes while gaining access to new revenue streams.
At the same time, regulatory clarity for cryptocurrencies is progressing—albeit slowly but steadily. This reduces risks for institutional investors who previously hesitated due to legal uncertainty. Ultimately, the growing institutional interest in crypto products suggests that digital assets gradually move beyond retail investors and become part of the traditional financial system. Further development of infrastructure and regulatory frameworks will only strengthen this trend.
Recent data released yesterday indicates that open interest in Litecoin (LTC) futures has reached a four-year high. Additionally, a spot LTC exchange-traded fund (ETF) from Canary has appeared on the Depository Trust & Clearing Corporation (DTCC) website, which is responsible for clearing transactions on NASDAQ. This further demonstrates that cryptocurrency products—particularly established assets—are now aimed at institutional investors through more accessible trading options.
In terms of my intraday strategy in the cryptocurrency market, I will continue to take advantage of any significant dips in Bitcoin and Ethereum, as I expect the medium-term bull market to remain intact.
For short-term trading, I have outlined my strategy and conditions below.
Bitcoin
Buy Scenario
Scenario #1: I will buy Bitcoin today at $98,600, targeting a rise to $99,800. Around $99,800, I will exit long positions and immediately sell on a pullback. Before buying the breakout, ensuring that the 50-day moving average is below the current price and that the Awesome Oscillator is in the positive zone is important.
Scenario #2: Bitcoin can also be bought from the lower boundary of $98,000 if there is no market reaction to a break below this level, with potential targets at $98,600 and $99,800.
Sell Scenario
Scenario #1: I will sell Bitcoin today at $98,000, targeting a decline to $96,800. Around $96,800, I will exit short positions and immediately buy on a pullback. Before selling the breakout, confirming that the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone is crucial.
Scenario #2: Bitcoin can also be sold from the upper boundary of $98,600 if there is no market reaction to a break above this level, with potential targets at $98,000 and $96,800.
Ethereum
Buy Scenario
Scenario #1: I will buy Ethereum today at $2,774, targeting a rise to $2,805. Around $2,805, I will exit long positions and immediately sell on a pullback. Before buying the breakout, I need to confirm that the 50-day moving average is below the current price and that the Awesome Oscillator is in the positive zone.
Scenario #2: Ethereum can also be bought from the lower boundary of $2,749 if there is no market reaction to a break below this level, with potential targets at $2,774 and $2,805.
Sell Scenario
Scenario #1: I will sell Ethereum today at $2,749, targeting a decline to $2,704. Around $2,704, I will exit short positions and immediately buy on a pullback. Before selling the breakout, it is essential to confirm that the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone.
Scenario #2: Ethereum can also be sold from the upper boundary of $2,774 if there is no market reaction to a break above this level, with potential targets at $2,749 and $2,704.
