Galaxy Digital Leads Investment in Blockchain Startup Fence

While the news reflects growing institutional interest in the cryptocurrency sector, it does not directly impact Bitcoin's price. Technical indicators show the RSI approaching overbought territory at 68, suggesting a short-term correction risk. Although the MACD remains in positive territory, it is hovering near the signal line, which could indicate weakening momentum. Despite the price staying above the 20- and 50-day moving averages, a sideways trend is possible following the rally in the last 24 hours.

ETH is trading sideways at $2,372, with a 24-hour change of less than 1%. The RSI stands at 51.9, indicating neutral territory, while the MACD remains below the signal line. The price is squeezed between the 20-day SMA ($2,375) and the 50-day SMA ($2,362), struggling to establish a short-term direction. Although Galaxy Digital's investment in blockchain venture Fence has increased sector interest, this news is not expected to have a direct and immediate impact on ETH's price. With technical indicators providing no clear signal, the sideways movement is likely to continue in the near term.