Bitcoin today quickly reached the $116,500 mark, and Ethereum updated its level at $4,323, indicating the market still has strong upward prospects for cryptocurrencies..

If you think major players have left the market, you are mistaken. The Asian "MicroStrategy" — the company Metaplanet — has proven this by purchasing another 5,268 BTC for its balance sheet. The total amount on its balance sheet has grown to 30,823 BTC. This step not only demonstrates the company's confidence in Bitcoin's long-term potential but also its willingness to invest actively in the cryptocurrency sector despite existing volatility.

Such actions by big players have a significant impact on the market, shaping overall sentiment and attracting the attention of other potential investors. Metaplanet's acquisition of such a large amount of Bitcoin may serve as a sign of renewed interest in cryptocurrency from institutional investors, which, in turn, may support Bitcoin's price in the long term.

The influence of such trades extends much farther than just a short-term price increase. They confirm Bitcoin's status as an important asset in the portfolios of large companies who are diversifying investments and trying to protect their capital from inflation and other macroeconomic risks.

There has also been renewed inflow into spot ETFs, which will continue to stimulate market growth. This factor, together with the positive signals mentioned above, creates a favorable environment for further strengthening of cryptocurrency assets. The renewed interest in spot ETFs indicates that investors, especially institutional ones, are returning confidence to Bitcoin as a reliable store of value and a tool for portfolio diversification.

Capital inflows into these funds act as an extra stimulus, supporting the upward trend and creating a shortage of supply in the market, which in turn contributes to an increase in price. It is important to note that spot ETFs, unlike futures ETFs, are backed by real cryptocurrencies. This provides additional stability and appeal for investors who want to avoid high risks.

Trading recommendations:

In terms of Ethereum's technical picture, a clear consolidation above the $4,331 level opens a direct path to $4,441. The furthest target is the maximum in the $4,533 area, overcoming which would mean strengthening of the bull market and an increase in buyer interest. In case of a decline in Ethereum, buyers are expected at the $4,235 level. A return of the trading instrument below this area could quickly bring ETH down to the $4,132 area. The most distant target will be the $4,039 area.

What is on the chart:

- Red color marks support and resistance levels, from which a slowdown or a rapid price increase is expected at the moment;

- Green color marks the 50-day moving average;

- Blue color marks the 100-day moving average;

- Light green color marks the 200-day moving average;

A crossover or a price test of these moving averages usually either stops the market or creates an impulse for new movement.