## Crypto Market Experiences "Bloodshed," Has the Bottom Been Reached?

After consecutive weeks of intense sell-offs, institutional money flow is beginning to show signs of recovery. Bitcoin is currently trading around **$91.84K** (up 1.21% in 24h), while Ethereum reaches **$3.16K** (up 1.83%), indicating a rebound after a series of "red-hot" days.

Looking back at the recent sell-off: BTC once hit $80,000, ETH tested the $2,800 zone, XRP fell to $2.07, and Solana dropped to $141.94. These are the price levels that opportunistic investors are waiting for.

### Recovery signals from ETF funds

Notably, Bitcoin and Ethereum ETF funds have just seen inflows after 6 consecutive weeks of net capital outflows. This reflects a shift in sentiment among institutional investors — they are starting to buy the dip instead of continuing to sell off.

The total Crypto market capitalization is also recovering from the $2.74T bottom, now surpassing the $3T threshold. This level is extremely important because it corresponds to the 2021 Bull Market peak — a psychological baseline for investors.

### Market sentiment support factors

The positive market sentiment return is due to:
- Expectations that the Fed will be more dovish in upcoming meetings
- Nvidia’s outstanding earnings continue to support the tech sector
- Possibility of resuming trade negotiations with China

## Technical Analysis of Bitcoin: Could it reach $102,000?

On the weekly chart, Bitcoin has formed a strong technical confluence at the Fibonacci retracement level 61.8% (around $80,000), while touching the 2023 trendline without breaking it. These are typical signals indicating a bottom.

On the 8-hour chart, bullish divergence on RSI suggests strong buying pressure at the bottom. The descending channel has just been broken, a positive sign for a potential reversal.

**Key levels to watch:**

*Support:*
- $90,000 - $93,000 (Main pivot)
- $85,000 (Medium-term support)
- $75,000 (Long-term support)

*Resistance:*
- $98,000 - $100,000 (Main pivot, MA 50 at $100K)
- $102,000 (Downtrend channel peak)
- $106,000 - $108,000 (Previous all-time high)
- $124,000 - $126,000 (Current all-time high)

If BTC maintains its price channel after the false breakout, the likelihood of testing the $102,000 zone will increase significantly.

## Ethereum: $3,000 is the key

ETH is currently trading at $3.16K, recovering from the $2,700 level which we identified as the buying momentum trigger. The next challenge is to break above and hold above $3,000 — a level that coincides with the middle line of the price channel.

**Levels to monitor for ETH:**

*Support:*
- $2,500 - $2,700 (Main support in June)
- $2,100 (War support)
- $1,385 - $1,750 (Support in 2025)

*Resistance:*
- $3,000 - $3,200 (Main momentum pivot)
- $3,500 (Downtrend channel resistance)
- $3,800 (September bottom)
- $4,000 - $4,950 (Long-term resistance zone)

Breaking above $3,000 will significantly increase the chances of a strong breakout.

### Altcoin review: Solana reverses course

Solana increased by 4.23% in the past 24h, reaching $141.94. Meanwhile, XRP is still testing but only down slightly by -1.19%. These altcoins are waiting for Bitcoin and Ethereum to confirm the trend before deciding their next move.

### Conclusion

Signs of bottom formation are quite clear through:
- Return of ETF capital flow
- Strong technical confluence across timeframes
- Bullish divergence on RSI
- Improved market sentiment from macro factors

However, nothing guarantees how long the recovery will last. Pay attention to the Pivot levels — they will determine whether the trend continues or reverts to selling. Maintaining a stable Crypto market above $3T will be the next crucial turning point.