Bitcoin Consolidates Near $70K as Altcoins Test Support
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Bitcoin's momentum stalled this week as it failed to decisively break above the $70,000 resistance level, entering a consolidation phase. While this pause suggests some near-term exhaustion, analysts note that downside appears limited, with strong institutional demand and ETF inflows providing a solid foundation. The market appears to be digesting recent gains rather than signaling a broader reversal.
Altcoins face a critical test as they attempt to maintain weekly gains amid Bitcoin's sideways movement. The coming sessions will reveal whether capital rotates back into select altcoins or if broader risk-off sentiment emerges. Key levels to watch include Ethereum holding above $3,500 and Solana maintaining its recent breakout structure, which would signal continued confidence in the altcoin space.
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