Kraken Observes Bitcoin’s Bullish Surge Toward $120K as Institutional Confidence Grows

Bitcoin has reignited its upward trajectory, breaking past the $115,500 resistance with conviction. The cryptocurrency now eyes the $120,000 threshold as bullish technical patterns emerge. A steady climb from the $112,200 support level demonstrates renewed institutional confidence. The BTC/USD pair maintains strength above both the 100-hour moving average and a newly formed trendline at $115,600. Market observers note consolidation patterns that suggest sustained momentum, with Kraken and other major exchanges reporting increased institutional inflows. Analysts attribute this rally to macroeconomic factors favoring hard assets, coupled with improving on-chain metrics. The current bullish structure remains intact as long as Bitcoin holds above $112,000, with the next major resistance looming at $122,500. This movement aligns with historical post-halving performance cycles, potentially signaling the early stages of a broader market uptrend.

Bitcoin Price Surges Toward $120K as Bullish Momentum Builds

Bitcoin has reignited its upward trajectory, breaking past the $115,500 resistance with conviction. The cryptocurrency now eyes the $120,000 threshold as bullish technical patterns emerge. A steady climb from the $112,200 support level demonstrates renewed institutional confidence.

The BTC/USD pair maintains strength above both the 100-hour moving average and a newly formed trendline at $115,600. Market observers note consolidation NEAR $117,500 could precede another leg up. Clearing $118,250 resistance may trigger accelerated buying pressure.

Kraken exchange data reveals a 23.6% Fibonacci retracement cushion from recent lows, providing technical validation for the rally. This movement mirrors growing anticipation around institutional adoption and the upcoming halving event's supply constraints.

Ethereum Price Momentum Surges Toward $4K Threshold

Ethereum's price action shows renewed bullish momentum, rebounding decisively from the $3,650 support level. The second-largest cryptocurrency by market capitalization has now cleared multiple resistance tiers, including $3,750 and $3,850, with Kraken exchange data revealing a newly formed bullish trend line at $3,820 on hourly charts.

The asset currently trades above both its 100-hour moving average and the 23.6% Fibonacci retracement level of its recent upswing from $3,544 to $3,927. Market structure suggests potential for continuation if ETH maintains footing above $3,750, with traders eyeing consecutive resistance levels at $3,920, $3,950, and the psychologically significant $4,000 mark.

A decisive breach of $4,000 could accelerate momentum toward $4,220, cementing ETH's outperformance against Bitcoin in the current market cycle. The 5% single-day gain demonstrates growing institutional confidence in Ethereum's network fundamentals ahead of anticipated protocol upgrades.