European and American institutions have finished their holidays, and yesterday marked the first day back to work. The entire crypto market has become noticeably more active.

Bitcoin's performance is as follows: it rebounded well during intraday trading, reaching a high of 90,930 in the early morning, then slightly pulling back, now fluctuating around the 90,000 level. Ethereum is even more vigorous — it continued its rebound, breaking through the nearly two-week consolidation resistance at 3,050, surging to around 3,150 in the early morning, and now stabilizing in the 3,100–3,150 range for sideways movement.

Why did it rebound? The reason is actually simple. During Christmas and New Year’s, institutions were on holiday, and the Federal Reserve’s signals of bond purchases and liquidity injections during that period were not fully reflected in the market. Plus, Bitcoin and Ethereum had been consolidating at low levels for over a month, gradually digesting market panic. After institutions resumed work, even mild buying was enough to push prices higher.

Looking at the technicals — on the daily chart for Bitcoin, the MA5 and MA10 moving averages are forming a golden cross support at 88,500. On the four-hour chart, the moving averages and MACD are showing bullish divergence, indicating the upward trend may continue. However, it’s also important to note that the daily candlestick is currently stuck at the upper resistance zone, and the hourly chart has already shown overbought signals and a potential correction. So, in the short term, prices may need to retrace.

Trading strategy: Focus on whether Bitcoin can confirm a pullback to support levels. Short-term support is at 89,000 and 88,500. If it breaks through 91,000, it could continue testing the 92,500 resistance.

Ethereum’s rebound is much stronger than Bitcoin’s. The daily chart has temporarily broken above the upper band, with the MA5/10 moving averages forming a golden cross support around the 3,000 level.