Bitcoin is struggling to rise above $74,508 resistance as bears dominate, leading to negative sentiment in major altcoins. Outflows from BTC exchange-traded products hit $133.3 million last week, totaling $3.8 billion over four weeks. BTC may see its first-ever consecutive negative monthly close if it ends below $79,500, with a 22% loss.

Despite a weak BTC performance, Strategy co-founder Michael Saylor announced more BTC purchases, displaying a long-term bullish view. The S&P 500 Index faces a tough battle, with bears possibly pushing the index toward solid support at 6,550. The US Dollar Index may rally to 99.49 if it breaks above moving averages.

BTC struggles near $71,000, with sellers aiming to keep control below $65,000 and potentially retesting $60,000 support. Ether faces strong resistance at $2,111, while BNB’s relief rally fizzles out at $642. XRP may stay inside a descending channel, while Solana aims for a breakout above $95.

Dogecoin struggles at $0.12 resistance, signaling possible range-bound action between $0.08 and $0.12. Cardano faces resistance at the 20-day EMA, while Bitcoin Cash surges above the 20-day EMA, eyeing a move to $600. Buyers and sellers are in a battle across various cryptocurrencies, with support levels and resistance crucial for future price movements.

Read more at Cointelegraph: Bitcoin Holds Key Level, Altcoins Aim To Follow: Will Bears Relent?