Bullish BTC and Ethereum Price Breakout Soon As Fees Fall?
Bitcoin (BTC) and Ethereum have been consolidating in a range in February after the retreat, which points to a bullish breakout soon, as buyers keep testing the upside, while fees have been reduced.
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Steady Growth Since Late 2023
Bitcoin has been on a strong upward trajectory since October 2023, fueled by key market catalysts. The bull run began following Donald Trump’s re-election as U.S. President and XRP’s legal success against the SEC. At the same time, expectations surrounding ETF approvals drove Bitcoin’s price to nearly double.
Since then, Bitcoin ETFs have gained massive traction, with yearly inflows nearing $5 billion. Analysts predict that by the end of this year, Bitcoin ETFs could reach $60 billion in total investments. The removal of SAB 121 by the SEC has further solidified Bitcoin’s status as an institutional asset, enabling banks to offer crypto custody services.
Institutional Interest and ETF Fee Cuts
With shifting government policies in the U.S., institutional interest in Bitcoin continues to surge. Australian firm VanEck has responded by lowering management fees on its popular Bitcoin ETF (VBTC) by five basis points to 0.45% annually.
While other cryptocurrencies suffered a significant decline in late January, Bitcoin remained resilient, holding firm above $90K. Additionally, Donald Trump’s comments on establishing a U.S. national Bitcoin reserve have contributed to Bitcoin’s price stability during volatile market swings.
Bitcoin Technical Analysis: Key Resistance and Support Levels
Bitcoin’s price remains within a key technical range, trading between two moving averages:
- 50-day SMA (yellow) – Resistance
- 100-day SMA (green) – Support
Recently, Bitcoin briefly dipped below the 100-day SMA, but buyers quickly pushed the price back up, forming a doji candlestick, a strong bullish reversal signal. Over the last two days, Bitcoin has posted two bullish candlesticks, with buyers now testing the 50-day SMA. If Bitcoin breaks above this level, it could pave the way for a move toward $100K and beyond.
Ethereum’s Slower Growth and Network Evolution
Ethereum has faced challenges in gaining upward momentum, contrasting with Bitcoin’s strong performance. The ETH/USD pair struggled to reach new highs in late 2024, and a flash crash in January briefly drove its price down to around $2,000. In recent weeks, Ethereum has stabilized, fluctuating near $2,500, which is roughly halfway to its all-time high of nearly $5,000. Despite this subdued price action, Ethereum’s network infrastructure is evolving significantly. A 20% increase in block gas limits (from 30 million to 36 million) has improved scalability.
Meanwhile, gas fees have dropped to multi-month lows, even as institutional interest in Ethereum ETFs grows. Another major shift is the increasing dominance of Layer 2 solutions, which now process over four times the transaction volume of Ethereum’s mainnet. This transition is reshaping network activity, reducing congestion on the base layer while enhancing efficiency and cost-effectiveness for users.
Bitcoin BTC Live Chart
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