Bitcoin’s BTC$112,871.74 rally attempt stalled again on Tuesday, with prices once more failing to hold above $116,000.
Sellers stepped in during the U.S. afternoon hours, dragging BTC back below $113,000, nearly identical to Monday’s reversal. The largest crypto changed hands at $112,700, down just shy of 2% over the past 24 hours.
Ether ETH$4,007.92 fell 4%, dropping back below the $4,000 level. The broader crypto market saw mostly red, with little reaction to three new spot ETF listings in the U.S. Solana SOL$195.21 and LTC$98.17 each fell nearly 4%, while Hedera (HBAR) gave back half of its initial ETF-related gains.
The crypto action is all the more lackluster as U.S. stocks climbed higher, with the S&P hitting 6,900 for the first time ever and the Nasdaq also clinching a new record high. Leading was tech giant Nvidia, gaining 5% to a new record and just shy of a $4 trillion market cap as its CEO Jensen Huang addressed the GPU Technology Conference.
Mostly in the green early in the session, crypto-related stocks also faded sharply into the red by the day’s end. Miners turned AI infrastructure bets Bitfarms (BITF), CleanSpark (CLSK), HIVE$0.1366 and IREN closed the session 4%-5% lower, while Galaxy (GLXY) fell 8% amid a $1.15 billion capital raise.. Strategy (MSTR), the world’s largest corporate BTC owner, sank 3.7%.
Bitcoin at risk of deeper pullback
Bitcoin managed to recover from the October lows
Bitfinex analysts said in a fresh report above the STH cost basis at $113,600 is now pivotal for confirming a constructive shift. Trading above this level has historically marked the transition from corrective to accumulation phases, while failure to sustain it would risk deeper retracement toward the 0.75 quantile near $97,500, the likely lower bound of the current consolidation range if we are to pull back further.
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