Since the start of Asian trading, Bitcoin has climbed from $118,000 to $122,000, with no signs of selling pressure in sight. Ethereum has topped $4,300, supported by positive macroeconomic news and steady institutional demand.

Last week, cryptocurrency prices rose after Donald Trump's high-profile remarks that he had instructed regulators to explore adding cryptocurrencies and private equity to 401(k) retirement portfolios. On Thursday, Trump signed an order directing the Department of Labor to work on allowing the use of cryptocurrency, private investments, and other alternative assets in 401(k) plans. The market did not react immediately, but a few days later came the realization that these actions could become a major catalyst for the continuation of the crypto bull market.

While the move carries some risks, it could potentially open the door to a massive influx of institutional capital into the crypto space. Pension funds, managing trillions of dollars, have so far stayed away from digital assets due to regulatory and reputational concerns. Now, with a green light from the Department of Labor, these funds could begin cautiously but steadily allocating part of their assets to cryptocurrencies.

The impact could be hard to overstate. First, it legitimizes cryptocurrency as an asset class, acknowledging its potential role in long-term investment strategies. Second, an influx of new capital could significantly push crypto prices higher, particularly for assets viewed as reliable and institution-ready, such as Bitcoin and Ethereum. Third, it would encourage the development of crypto infrastructure, including custodial services, insurance, and risk management tools needed to serve large institutional investors.

In addition to the 401(k) news, Bitcoin remains supported by ETF inflows, with last week's net inflow reaching $253 million, maintaining high demand despite a consolidation phase after last month's record high. Spot Ethereum ETFs are also seeing strong inflows, driving ETH prices higher, triggering mass liquidations of short futures positions, and putting Vitalik Buterin back in the billionaire club. With momentum, capital inflows, and positive headlines, ETH has every reason to challenge its previous all-time high.

Trading recommendations:

For Bitcoin, buyers are now aiming to reclaim $122,300, which would open the way to $124,200, followed by $126,600. The ultimate target is the $127,700 high, the break of which would signal further bullish market strength. In the event of a decline, buyers are expected at $120,400. A drop below this level could quickly push BTC down to $118,800, with $117,500 as the ultimate bearish target.

For Ethereum, a confirmed hold above $4,363 paves the way to $4,500. The ultimate target is $4,632, the break of which would mark a strong return of buyer interest. If ETH declines, buyers are expected around $4,216. A move below this area could swiftly drive ETH down to $4,077, with $3,941 as the furthest downside target.

What we see on the chart:

Red lines: support and resistance levels where prices are expected to either slow down or rally.Green lines: 50-day moving average.Blue lines: 100-day moving average.Light green lines: 200-day moving average.

A price test or crossover of moving averages often halts the market or gives it a new impulse.