Bitcoin set a new record on Binance at $126,000 and was recently trading just below the peak. It is up about 1.70% in 24 hours.
Ethereum touched $4,718.60 and trades near $4,709.55, up 0.78% on the day.
Coinglass shows about $305M in liquidations over 24 hours, with shorts making up roughly $185M.
What is driving the move
Spot bitcoin ETFs took in $3.24B last week. That was the second strongest week on record after $3.38B in the week ending Nov 22, 2024, per SoSoValue. These inflows helped power Sunday’s breakout and supported bids on Monday.
Several large altcoins tried to clear overhead levels as BTC held near the highs.
Street targets moved higher into year end. Citigroup points to about $133,000. Standard Chartered sees a path to $200,000, citing steady ETF flows and the correlation with gold.
Levels to watch
Bulls defended the breakout area around $124,474 after the first push. If price cools from here, the first support is the 20-day EMA near $117,291. A firm rebound from that zone would keep the uptrend in place and opens a path toward $141,948.
If price slips below the 20-day EMA, a range between $107,000 and $126,000 could return.
A clear break under $107,000 would risk a bearish double top and a deeper pullback.
