"Bitcoin and Ethereum Reach Technical Crossroads...Testing Grounds for Trend Reversal"

With Bitcoin (BTC) and Ethereum (ETH) approaching technical resistance zones, market attention is rising. However, there are also analyses suggesting it remains uncertain whether this movement will lead to an actual trend reversal.

On the 8th, cryptocurrency analytics firm 10X Research commented through X (formerly Twitter), "Recently, Bitcoin rebounded after confirming support at $111,673 and climbed to the $117,000 level," adding, "While this could trigger a short-term technical rally, the current market faces a seasonal bearish phase and a lack of momentum."

10X Research also analyzed, "Ethereum is witnessing a surge in the number of active wallet addresses and an upward price trend, but these movements are currently driven primarily by psychological factors based on narratives such as expectations, rather than solid fundamentals."

They further stated, "Recent moves by President Donald Trump to permit cryptocurrency investments in retirement funds (401k) and expand gold investments have also influenced some investor sentiment, but the response so far has been limited," and added, "Since both Bitcoin and Ethereum have reached critical boundaries, depending on future movements, momentum could either strengthen or sharply decline."