Today's mainstream Crypto Assets price analysis: BTC rebounds from the support level, SOL enters the Overbought zone.

Bitcoin (BTC) is currently reported above $118,500 in the early European session today (22), rebounding from the support level. Solana (SOL) follows the rebound trend, currently reported around $199. The market capitalization of Crypto Assets has fallen by 1.4% in the past 24 hours to $3.9 trillion. At yesterday's close, the pressure of Bitcoin spread throughout the market, causing the pump of various alts to stagnate.

(Source: CoinMarketCap)

The sentiment index remains at a comfortable level of 72, slightly below the extreme greed zone. According to this indicator, the market is not overheated, which preserves the potential for accelerated growth. The best-case scenario is that BTC regains positive momentum.

On Tuesday during the Asian session, Bitcoin fell to 116,000 USD, which is the lower limit of the consolidation range over the past 10 days. However, during the European trading session, the price rebounded to the midpoint of that range, close to 118,000 USD. If the price breaks through 120,000 USD, the market can discuss the end of the consolidation, which would signal a recovery in prices after slight fluctuations. Another scenario is that the pullback intensifies further.

The price of SOL has broken through 200 dollars and returned to the levels of February. The RSI has risen to 80, and in recent years, when this index (rather than the price) starts to fall, this level often triggers a Rebound.

Crypto Assets market focus events:

The ethPandaOps team stated that the next important Fusaka update will be deployed on the Ethereum network in early November. Ethereum developers will launch a public test network in September and October.

CryptoQuant pointed out that large holders of Ethereum increased the amount of tokens transferred to cryptocurrency exchanges by 60% over the course of a week, which may indicate a profit-taking phenomenon in the context of market growth.

The UK government is considering selling 61,000 seized Bitcoins ($7.1 billion) to make up for the budget deficit.

According to Glassnode's calculations, over the past two weeks, new investors have invested more than $16.75 billion in Bitcoin, indicating a growing optimistic sentiment in the market. However, despite Bitcoin reaching an all-time high, retail interest in Bitcoin remains subdued.