Major cryptocurrencies are trading lower in early Thursday hours despite ongoing institutional demand and cooling inflation data.

Sentiment has shifted sharply, with the Crypto Fear & Greed Index entering the ‘Greed’ zone, raising questions whether this pullback signals a phase of profit-taking and consolidation following the robust rally over the past few weeks.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction volume dropped 5.1% and 0.2%, respectively, in a single day. While ETH shows a 240% rise in exchange netflows, Bitcoin's daily active addresses are down 1.9%.
• Coinglass data shows 157,967 traders were liquidated in the past 24 hours for $346.93 million.
• SoSoValue data shows that spot Bitcoin ETFs saw a net inflow of $319.6 million, while spot Ethereum ETFs saw a $63.5 million net inflow.
• Santiment data shows the daily average of new wallet creations over the past month: Bitcoin leads with 309,000 new wallets per day, followed by Ethereum at 112,000, USDT at 36,400, and XRP with 3,500 daily.
• According to CoinMarketCap, the Crypto Fear & Greed Index has surged to 71, entering the Greed zone, up sharply from the neutral range (40–60) recorded in early May.

Trader Notes: Bitcoin is finding key support around $101,600, according to crypto chart analyst Ali Martinez.

Meanwhile, trader Adam observed that Bitcoin appears exhausted after its climb to $105,000, with open interest returning to levels seen near previous all-time highs.

He notes that spot markets are encountering increased selling pressure, and while the move from $80,000 suggests a solid base, this may not be an optimal time to open new long positions.

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Martinez also highlighted that Ethereum has closed above its 200-period simple moving average on the 3-day chart, currently around $2,700.

Historically, such a close has marked the beginning of major bull rallies for ETH.

For Solana, analyst Crypto Zeinab notes that the coin is currently retesting the $180 breakout level.

A successful bullish retest could open the path toward $200.

Supporting this outlook, Glassnode data shows positive 30-day capital inflows of around 4–5% for SOL after months of outflows, signalling renewed investor interest, now on par with XRP.

Bluntz Capital pointed out that Dogecoin is forming a textbook inverse head and shoulders (IHS) pattern. The breakout occurred with strong volume, and the current pullback is seen as a healthy consolidation, potentially setting up for further upside.

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