Whalesbook
Crypto Market Shows Signs of Durable Recovery
Bitcoin and Ethereum are displaying robust technical signals that indicate a durable recovery is underway. After a prolonged period marked by skepticism and false starts, multiple indicators suggest a sustained upward trend for cryptocurrencies.
Bitcoin is currently trading around $96,000, a notable 15% increase from its November low. The cryptocurrency's recent advance is supported by an improving technical structure, not merely momentum. Key moving averages have been reclaimed, trendlines are trending higher, and pullbacks are consistently met with buyer demand.
Bitcoin ETF Reclaims Key Levels
The iShares Bitcoin Trust exchange-traded fund (ETF), which had been largely flat, has shown renewed life. In the past week, the ETF climbed 8% and is on track for its first three-week winning streak in six months. It has reclaimed its 21-day exponential moving average and surpassed its 50-day simple moving average, signaling positive momentum.
Ethereum and Solana ETFs Signal Upside Potential
The Grayscale Ethereum Staking ETF, despite earlier volatility, is also exhibiting improving technicals. Since late November, downside follow-through has been minimal. On Wednesday, the ETF surged 6% on significant volume, breaking out of a symmetrical triangle. Analysts suggest this could lead to a move towards $34 in the second quarter, with the broader bullish case remaining intact above $25.
The Solana ETF, though still volatile and trading below its 52-week high, has opened 2026 strongly with a 15% gain. It is holding a potential double bottom near $12 and has shown upward momentum. A break above the $15 pivot could open the door to the $18 area, with the bullish case intact above $13.75.