As of 1:23 PM IST, the world’s largest cryptocurrency was trading at $105,366, up 1% in the last 24 hours. Ethereum, however, slipped marginally by 0.1% to $2,506.
The global cryptocurrency market cap rose 0.9% to $3.29 trillion, according to CoinMarketCap, with gains seen across several altcoins. XRP, Solana, Dogecoin, and Cardano edged up between 0.3% and 1.2%, while Bitcoin’s dominance remained steady at 63.7%.
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The market witnessed heightened volatility over the weekend after US President Donald Trump escalated trade tensions with new tariff threats, triggering risk-off sentiment across global markets. According to CoinSwitch Markets Desk, Bitcoin briefly dropped below $104,000, triggering over $600 million in liquidations—the highest in four months—before bouncing back above $105,000, supported by institutional buying around the $103,000 level.“Bitcoin is trading steadily above $105,000, bouncing back from weekend lows of $103,200,” said Alankar Saxena, Co-founder and CTO of Mudrex. “The market is now focused on macroeconomic cues, especially Fed Chair Jerome Powell’s upcoming speech. Technically, $106,000 is a key resistance zone. A breakout above $106,800 could push the price toward $108,000.”
On the flip side, failure to hold current levels could send Bitcoin back toward $103,500, he added.Delta Exchange’s research analyst Riya Sehgal noted that Bitcoin is testing support near $103,900 within a descending broadening wedge pattern. “A decisive move above $106,800 could lead to targets near $110,000. However, if $106,500 fails to hold, prices may dip toward $102,500 or even the $93,000–$97,000 range.”Ethereum faces resistance at $2,620. A breakout may lead to $2,720, but downside risks to $2,470 and $2,420 persist if bulls fail to reclaim control, Sehgal added.
While Bitcoin ETFs saw $616 million in outflows over the last two days—led by BlackRock’s IBIT and Ark 21Shares’ ARKB—Ethereum ETFs attracted inflows for a tenth straight day, signalling continued institutional interest in the altcoin despite broader market choppiness.
Sathvik Vishwanath, Co-founder and CEO of Unocoin, said Bitcoin’s current consolidation near $105,000 comes after a record high of $111,970 in May 2025. “This healthy pause shows investor confidence amid growing institutional inflows and declining exchange supply. With increasing regulatory clarity and the U.S. government’s supportive stance, the long-term sentiment remains positive.”
Vishwanath added that forecasts are pointing toward potential peaks of $180,000 to $250,000 by year-end, though short-term volatility should be expected.
“Investors should focus on macro trends and avoid being swayed by daily swings,” he said. “This phase may be the calm before Bitcoin’s next major leg up.”
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
