After a rapid rally and a peak around $74,000, Bitcoin has lost its steam and is now sliding slowly.

Meanwhile, big players continue to enter the crypto market. Morgan Stanley, one of the titans of global finance with assets under management exceeding $9 trillion, has taken a symbolic step by filing with the US Securities and Exchange Commission to launch a spot Bitcoin ETF.

This move marks a new phase in institutional adoption of crypto and could open the door to broader access to an asset class that was recently still considered niche. Given Morgan Stanley's scale and market influence, its decision could act as a catalyst for other major players.

With growing interest from high-net-worth private clients and institutional funds in digital assets, the appearance of another regulated instrument accessible via traditional investment platforms — such as a spot Bitcoin ETF — is increasingly in demand. It allows investors to gain exposure to Bitcoin without managing crypto assets directly, removing many technical and regulatory burdens.

Notably, inflows into spot ETFs for Bitcoin and Ethereum have recently begun to recover gradually, serving as a good omen for the crypto market.

The launch of an ETF under Morgan Stanley's umbrella not only confirms Bitcoin's legitimacy as an investment instrument but also signals the traditional financial system's readiness to integrate innovative assets. The introduction of another large ETF could attract significant capital into the Bitcoin ecosystem, help stabilise its price and boost liquidity.

Trading recommendations

Bitcoin

Buyers are currently targeting a return to $71,300, which would open a direct path to $73,000 and then to $74,600. The most distant upside target is the high near $77,400; a break above that would signal attempts to resume the bull market. On the downside, buyers are expected at $69,300. A move back below that area could quickly push BTC toward $67,100, with a further downside target near $64,900.

Ethereum

A clear close above $2,078 would open the way to $2,169. The most distant upside target is the high near $2,279; a break above that would indicate strengthening bullish sentiment and renewed buyer interest. On the downside, buyers are expected at $2,007. A move below that area could quickly send ETH toward $1,915, with a further downside target near $1,845.

What's on the chart

• The red lines represent support and resistance levels, where price is expected to either pause or react sharply.
• The green line shows the 50-day moving average.
• The blue line is the 100-day moving average.
• The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.