Bitcoin Holds 111K as Ethereum and Solana Drive Market Rebound

Bitcoin steadied near 111,352 on Wednesday morning, up about 1 percent over the past day. Ethereum climbed to 4,612 with a 4 percent gain, while Solana surged more than 7 percent to 203.

XRP rose just over 3 percent, and Dogecoin gained almost 5 percent. Cronos delivered the most dramatic move, jumping 43 percent, while CKB advanced nearly 20 percent.

The rebound follows last week’s heavy selling that erased more than 900 million in leveraged positions. That reset cleared space for buyers, and money rotated into Ethereum and Solana after heavy activity in Bitcoin.

The user-supplied board shows trading volumes of 1.55 billion in ETH/USDT and 811 million in BTC/USDT, evidence that flows shifted toward Ethereum for the session.

Bitcoin’s technical picture still looks cautious. On the 4-hour chart, the price found support above 110,000 and moved between the middle and lower Bollinger bands.

The MACD showed fading negative momentum, and the RSI moved back toward neutral levels. On the daily chart, resistance stands firm near 113,000, where moving averages and the Ichimoku cloud converge.

The RSI remains below 50, and the MACD stays negative, both signaling hesitation. Traders see 110,000 as immediate support, while a daily close above 113,000 could mark the start of a stronger advance.

The broader liquidity backdrop also matters. The yellow Global Liquidity Index on the daily chart dropped sharply earlier in August, recovered briefly, and then softened again.

That line reflects tighter conditions that often cap rallies. Until it rises again, technical momentum will likely remain fragile. For now, the story is straightforward.

Bitcoin holds steady, but the real action is in Ethereum and Solana, where investors are chasing stronger returns. Cronos captured headlines with a sharp jump, while XRP and Dogecoin added steady gains.

The story behind the story is that liquidity remains thin and uneven, making sharp moves easier across the board. Traders outside the country will recognize a familiar pattern: after a wave of forced selling, markets bounce, but true strength depends on flows and liquidity returning in a sustained way.

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