According to Crypto Rover, Bitcoin has formed a bullish cross on the charts, signaling strong upward momentum and a potential price target of $120,000 based on technical analysis shared on May 17, 2025 (source: @rovercrc on Twitter). This technical pattern—commonly interpreted as a buy signal—has historically preceded substantial rallies in the cryptocurrency market. Traders are closely watching for confirmation of this breakout, as sustained bullish momentum could impact the broader crypto market and increase trading volumes across major exchanges.

According to Lookonchain, on May 16, Bitcoin ETFs recorded a net inflow of 1,894 BTC, equivalent to $196.39 million, with iShares (Blackrock) leading by adding 3,977 BTC ($412.24 million) to its holdings, now totaling 631,962 BTC ($65.51 billion). In contrast, Ethereum ETFs saw a net outflow of 9,246 ETH ($23.93 million), mainly driven by Fidelity, which reduced its position by 12,488 ETH ($32.32 million), holding 390,676 ETH. These ETF flows indicate bullish sentiment for Bitcoin among institutional investors, potentially supporting upward price momentum, while Ethereum faces near-term selling pressure due to significant outflows. Traders should monitor these flows as they may impact short-term crypto market dynamics. (Source: Lookonchain, Twitter, May 16, 2025)