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Bitcoin’s Market Shift: Rising Open Interest and Volatility Concerns

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  • Bitcoin’s rising open interest and declining price increase market risks, potentially leading to heavy losses for traders.
  • Spot selling pressure and rising leverage may cause Bitcoin ETFs to post negative results and heighten price volatility.
  • A quick reduction in open interest could help stabilize the market and promote a more sustainable upward trend.

Bitcoin’s unpredictability continues to rise, and analysts are concerned that the growing open interest could influence the market negatively. Analyst Daan Crypto Trades highlighted that while Bitcoin’s price is declining, open interest measured in coins and aggregated funding is increasing. Therefore, the market looks risky, and traders could lose a lot if they try to catch a falling stock that doesn’t recover swiftly.

Bitcoin is facing extra pressure since spot selling has increased after the U.S. market started accepting Bitcoin. Therefore, certain analysts anticipate that Bitcoin ETFs could end the day with unfavorable results. More open interest leads to higher levels of leverage, which may increase uncertainty for investors and make prices more volatile.

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Source: X

Bitcoin’s Unsustainable Market Surge

Daan observed how Bitcoin’s price changed by looking at several important points on the price chart. A 42% growth is seen in the green area, along with a rise in open interest of 30,000 BTC, proving that the market is stable. But in the red area, the price went up by just 8% despite the addition of 45,000 BTC in open interest. Because the open interest is not in proportion to the change in price, it demonstrates that the market is significantly different.

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Source: X

The leverage used during the recent record high for Bitcoin has not fully been retracted. The leverage is mainly caught between $108,000 and $110,000, and this is dragging the market lower.

Although higher open interest and a price rise often suggest a healthy market, Daan advised that having a balance is key. A surge in leveraged role-playing in the past few weeks has made the market unsustainable, leading to a halt in the price.

Analyst More Crypto Online revealed that the movements in BTC are following a regular three-wave pattern. This suggests that the market is currently in a consolidation period, with neither the bulls nor the bears having control. If wave (5) in yellow is developing, there could be a B-wave within wave (5).

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Source: X

Therefore, the market might be moving through a stage of correcting its recent movements. According to More Crypto Online, the market may remain in this period until a clearer trend is seen, and traders will closely follow the market’s actions. 

Daan thinks that a quick decrease in open interest could bring the market back to normal. Reducing the amount of leverage would help BTC stabilise and continue to rise.

Related Reading: Bitcoin’s 2024–2025 Cycle: Is This the Start of a New Market Trend?

Bitcoin Investors Alert: Hash Ribbons Show a Prime Buying Opportunity

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  • Bitcoin’s Hash Ribbons buy signal reveals a prime opportunity as mining stress levels peak.
  • When mining struggles occur, Bitcoin prices dip, creating buying chances for long-term investors.
  • The Hash Ribbons indicator has been mostly accurate, predicting buying opportunities during stress.

Bitcoin has just given a signal to buy on the Hash Ribbons graph and this has raised the interest of investors. Analyst at CryptoQuant highlighted that this signal appears when the Bitcoin mining environment reaches new highs, as the hashrate reaches the highest levels yet. This indicator plays a crucial role by revealing stress in the mining sector, helping investors identify potential opportunities to buy.

The indicator is created by comparing the 30-day and 60-day moving averages of the Bitcoin hashrate. When the averages hit each other in a specific way, this shows a time of struggle for miners. As a result, mining profits can drop temporarily, and Bitcoin’s price may decrease for a while. However, these drops can occasionally create favourable opportunities for long-term investors to buy.

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Source: X

Many miners have to sell their Bitcoin to keep going through such difficult times. Because of unprofitable mining conditions, a drop in Bitcoin’s market price usually follows these large sell-offs. As prices drop, investors can buy more Bitcoin, which might turn into big profits as the cryptocurrency market reaches stability.

Bitcoin Market Opportunities

Hash Ribbons has worked well in most situations, except for the case of China’s 2021 mining ban. As a result, mining slowed down, and the usual statistics were temporarily altered. Apart from that one instance, the Hash Ribbons indicator has typically helped traders and investors identify when the sector is under financial stress and decide to buy.

Following the recent buy signal, analysts recommend that now may be the ideal time to invest in BTC. Despite short-term issues, the indicator signals that the market could improve in the near future. Long-term investors who buy during this dip could enjoy big rewards in the future.

Although the BTC market is known to be volatile, using the Hash Ribbons indicator can help make sense of the changing prices. A recent buy signal demonstrates that although market drops might seem worrying, these times offer good opportunities for prepared investors.

For BTC investors, the Hash Ribbons buy signal is a good opportunity. Even during challenging times in the mining industry, the increase suggests that investing in BTC could yield profitable outcomes in the coming months. Taking advantage of this opportunity could help investors succeed in the future as the market continues to grow.

Related Reading: Toncoin (TON) Price Analysis: Breakout Watch as TON Eyes Recovery

Crypto Kidnapping Mastermind Arrested: How Authorities Disrupted a Global Ransom Network

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  • Crypto kidnapping mastermind Bajjou 24 is linked to a series of abductions targeting French cryptocurrency leaders.
  • Noizat’s daughter fights off attackers, leading to increased protection for crypto leaders
  • Over 25 arrests have been made in connection with a global crypto kidnapping network led by Bajjou.

Crypto kidnappings have risen, with a 24-year-old Moroccan, Badiss Mohamed Amide Bajjou, suspected of carrying out a series of kidnappings against French cryptocurrency leaders. As reported by Le Monde, he was arrested in the Moroccan city of Tangier after French authorities had asked for his arrest after investigating him for months.

Bajjou has been charged with kidnapping and false imprisonment. He is thought to have organized the kidnapping of David Balland, co-founder of Ledger, and his partner earlier in the year. Furthermore, Bajjou is under investigation for an incident where he tried to kidnap Pierre Noizat’s daughter.

Crypto Kidnapping Attempt Foiled

Noizat’s daughter was able to fight off the attackers during their attempted kidnapping. Together with nearby witnesses, she made the masked attackers enter their van before they left the scene. The entire incident was caught on camera, causing even more concern for the safety of crypto entrepreneurs.

The French government has implemented enhanced security measures to safeguard the digital currency industry. Because of the attempted kidnappings, the authorities are giving additional protection to famous digital currency figures and their families to guard them from similar events in the future.

French police freed a digital currency entrepreneur’s father after being held hostage in a ransom plot for nearly €7 million. This successful rescue proved that French authorities are firmly committed to stopping online crimes related to cryptocurrencies.

Interpol Red Notice Issued

The authorities in many countries had been aware of Bajjou for quite some time. Interpol issued red notices in 2023 to seek his arrest for crimes including organizing kidnappings and crimes against people. The police believe that Bajjou recruited criminals on the Internet to participate in the abductions, indicating his role in running a wide-ranging crime network.

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Source: Interpol

Officials in France are searching for another Moroccan suspect in his 40s, as he is apparently linked to Bajjou in the kidnappings. Authorities are investigating whether these arrests involve a criminal group targeting French digital currency leaders for financial gain.

French authorities have arrested more than 25 people in relation to these abductions. The group of suspects from different countries is accused of multiple offenses, such as kidnapping and abduction. By arresting these individuals, authorities have dealt a major blow to the networks responsible for these cryptocurrency attacks.

Related Reading: Dogecoin’s Bullish Momentum Builds Near $0.19 Threshold

Ethereum’s Critical Crossroad: Will $2,650 Support Hold or Lead to a Major Price Shift?

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  • Ethereum tests $2,650 support with potential for decline if momentum weakens.
  • Strong $2,750 resistance may limit ETH growth with next targets at $3,000, $3,500, $4,000.
  • Price action near $2,750 resistance or $2,510 support will determine the next market move.

Ethereum (ETH) is holding steady near a broken combination pattern known as a broadening wedge, which usually indicates that price action could change shortly. Analyst Jonathan Carter highlighted that ETH is testing a major average of around $2,650, which may indicate a potential decline. Therefore, Ethereum’s current movements are crucial in showing how it will go in the near future.

There is strong resistance around $2,750 that is holding back Ethereum. If the resistance is breached, analysts believe the next prices that could be reached are $3,000, $3,500 and $4,000. However, Carter believes that achieving this is not guaranteed, and Ethereum’s price could struggle to reach the required momentum for now. If Ethereum remains below its previous high, a slowdown or price decrease may occur due to the overall market conditions.

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Source: X

Ethereum Support at $2,650

The 200-day moving average at $2,650 may signal significant market changes for traders and investors. Usually, the strength of this level is linked to market direction, and its weakening often signals unpredictable prices for Ethereum. If this support is not sustained, ETH may continue to decline, primarily due to increased volatility in the broader market. The upcoming days will determine whether Ethereum remains at its current price level or starts dropping, indicating a potential bearish trend.

More Crypto Online revealed that ETH is moving closer to a support region of around $2,510 to $2,593. Even with this zone, the pattern could prove unstable in the long term. ETH is still building its base, and people are concerned about possible future crashes. Because the market is still unstable, people are eager to see further signs before committing to major buy or sell decisions.

Source: X

Resistance and Support Breakdown

The difference between $2,750 resistance and $2,510 support makes Ethereum’s situation quite fragile. If the cryptocurrency can overcome its resistance, it will suggest that the trend is positive. If the price of Ethereum does not rise, the asset might experience further difficulties, and its value could go down to support levels. Traders are closely watching any signs of an ETH breakout or breakdown, as this will determine ETH’s direction next.

The future value of ETH remains unclear as it approaches key technical milestones. The following days will decide if the cryptocurrency will rise further or have difficulty maintaining its current level. Investors wait for solid indications about where ETH is headed.

Related Reading: K Wave Media Announces $500M Bitcoin Investment Strategy, Stock Surges 133%

Jupiter DAO’s Crucial Vote: Will JUP & JUICE Secure Official Funding and Recognition?

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  • Jupiter DAO members vote on whether to officially integrate JUP & JUICE into the Full Working Group with a budget.
  • JUP & JUICE has produced 60+ podcasts, 200+ videos, and gained 7.5 million impressions, all without a budget.
  • The proposal focuses on enhancing community unity, building crypto partnerships, and recognizing individual DAO contributors.

Jupiter DAO members are currently voting to determine if JUP & JUICE should be formally added to the Full Working Group. The voting period, which started on June 2, finishes on June 6. A total of over 449 million votes have been cast already, and the proposal requests that a designated budget and clear tasks be established for the DAO.

Since late 2024, JUP & JUICE have worked unofficially within the Jupiter DAO. The media group has created content, hosted podcasts, and recorded videos to promote the DAO and its key initiatives. There was no production budget and yet, they have put out 60 podcasts, 200 videos, and have received over 7.5 million impressions.

The team has networked with some leading crypto projects such as Pudgy Penguins, Star Atlas, and Bonk. The collaborations have helped Jupiter DAO reach more fans and proven that the media team’s efforts are important to the community, without needing official resources or funding.

JUP & JUICE Funding Proposal

JUP & JUICE has applied for permanent recognition through the government, passing a budget for the project. The group proposed getting 282,000 USD Coin (USDC) for salaries and operations and 355,000 Jupiter tokens. The tokens earned would remain locked for one year, so the team is focused on the DAO’s long-term priorities.

The report shows that new products and concepts from Jupiter DAO are released very quickly. Even so, they explain that the communication strategies are not always effective, which leaves the community separate and not fully informed. As a result, users now find it more difficult to track and follow the updates happening in the DAO.

Jupiter DAO Ambassadorship Plan

JUP & JUICE has introduced a plan built around three main goals: connecting the community, serving as ambassadors, and introducing the DAO members. They try to guide people by sharing straightforward and understandable information. In addition, the team is working to build stronger relationships with other crypto projects to help the DAO grow.

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Source: JUP AND JUICE Work Group Proposal

Another main aim is to ensure individual contributors in the DAO are recognized, making it feel more comfortable and achievable for others. JUP & JUICE aims to promote the achievements of its members so that more individuals are drawn to participate and share in the community.

The vote is still in process, and everyone is closely watching Jupiter DAO to decide if JUP and JUICE will be officially recognized and funded. If the proposal passes, the team will become more valuable in directing the DAO and its community.

Related Reading: Solana’s Upward Trend: Will It Reach New Heights or Face a Reversal?

Bitcoin’s Next Big Move: Can It Overcome the Fib 1.618 Resistance?

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  • Bitcoin holds above Fib 1.272 at $103,835, with eyes on the crucial Fib 1.618 resistance.
  • The cryptocurrency is 63% toward its target price, indicating potential for a major price surge.
  • A five-wave pattern needs to form for a confirmed bullish trend and sustained upward movement.

BTC has maintained its strength above the Fibonacci (Fib) 1.272 level at around $103,835. As the digital currency comes near the Fib 1.618 point, investors are expecting it to break through and rise. The next several days will play a significant role in whether BTC can build on its advances or reverse course.

Egrag Crypto highlighted that Bitcoin is only 63% of the way towards its target price of $103,835. The currency has demonstrated strength over the past two weeks by remaining above key support levels. According to Egrag, Bitcoin might be preparing for a big price move as it approaches the Fib 1.618 level. If Bitcoin breaks past this resistance, it may mark the start of a strong rally. However, watching short-term movements will reveal whether it can sustain its progress.

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Source: X

Bitcoin’s chart is showing signs that the market could become more volatile. The ability of Bitcoin to overcome the 1.618 Fibonacci level will play a crucial role in its movement. Analysts are observing how Bitcoin behaves in the next few days. Moving past this resistance level would indicate that the trend is still upward. On the other hand, a failure to sustain these ranges could result in prices shuffling sideways before moving up significantly.

Bitcoin’s Ongoing Correction

More Crypto Online recently revealed that Bitcoin should be viewed as still undergoing a correction process. Further increases are possible, but the current price structure does not confirm that prices will remain low. A solid uptrend in Bitcoin would show as a diagonal pattern that has yet to occur.

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Source: X

According to More Crypto Online, the crucial point is whether BTC constructs a strong upward five-wave pattern. If the price continues this trend, it would indicate an actual uptrend, and traders would likely notice it. As long as there is no clear trend, its ongoing success is yet to be seen. Cryptocurrencies are waiting for more apparent signs of where the market is headed in the near future.

BTC next steps depend on its success in breaking above some crucial levels of resistance. In the following days, how BTC performs will play a significant role in deciding if its rise will continue or if a drop is expected. Traders have to remain alert while the market is in motion.

Related Reading: Arbitrum Price Prediction: ARB Eyes Breakout Towards $0.92

Solana’s Upward Trend: Will It Reach New Heights or Face a Reversal?

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  • Solana (SOL) remains bullish within an ascending channel, with potential for further upward movement.
  • The key support level at $151.70 will determine if Solana continues its upward trend or shifts to bearish.
  • A break above $164.50 could fuel further growth, while a drop below $151.70 may signal a bearish reversal.

Solana (SOL) is still moving upward, staying within an ascending channel as defined by the trend. The price of the cryptocurrency is at $156.60, after it had risen from the bottom of the channel and the 0.618 Fibonacci retracement level. The way the price is rising indicates possible higher prices, since traders expect the upward movement to continue if the trend continues.

Rose Premium Signals highlighted that when the price hits the lower channel boundary, there is a good chance of continuation in a bullish trend. If the trend continues, Solana might aim for major resistance points. The first major resistance is located around $188.89, at the center of the price channel, where buying pressure may halt the uptrend. If Solana breaks through this level, $206.07 becomes the next target at the very top of the channel, showing where the price movement might broaden.

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Source: X

More Crypto Online has revealed that Solana’s price is below the $164.50 resistance, which suggests that a fourth wave may appear. If the price moves lower past $151.70, it may signal the beginning of a fifth wave on the downside, leading to bearish market sentiment. If the price climbs even further, it suggests a bigger B-wave, which could continue the positive trend.

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Source: X

Solana’s Trend Outlook

The upcoming days will determine whether Solana can sustain itself at the tested levels. If the cutting edge is reached at $164.50, it will support the chances that the cryptocurrency will rise even more. Falling below $151.70 may suggest that the price is starting to decline, and a bearish trend could emerge. Watching these levels closely will give traders a good idea of how SOL prices may develop.

The trend of Solana’s price in the ascending channel is the main factor in predicting its future performance. If the cryptocurrency passes the current resistance points at $188.89 and $206.07, it might see a strong occurrence of buying pressure. 

SOL continues to move upwards inside the ascending channel. Whether the cryptocurrency stays supported at important levels will be key for its direction. A rally above $151.70 could cause further growth, whereas going below could be an early sign of a bearish shift. Traders need to monitor these levels to determine if the market may shift.

Related Reading: XRP Surges Past Resistance, Now Targeting $2.76 Price Level

XRP Targets $2.65: Is a Major Price Jump Coming Soon?

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  • XRP eyes a breakout towards $2.36, with $2.30 as the key support level for bullish momentum.
  • A hold above $2.30 could push XRP toward $2.65, signaling strong upward momentum.
  • Strong community support and a positive technical setup signal potential for a sharp price rise.

XRP has attracted attention as it looks primed for a breakout rise towards $2.36. Analyst Egrag shared potential zones where support or resistance might affect the currency’s direction. The first significant price to watch is $2.30, as holding at that price would indicate that XRP is entering a bullish trend.

The level of $2.30 is essential for XRP’s near-term movement. If the cryptocurrency maintains its value here, it will increase the likelihood of further gains. After confirmation of support, the following key resistance level is at $2.65, which would be a strong sign that the price will move higher. Crossing this level might mean that XRP is gearing up for a consistent upswing.

Source: X

XRP’s Strong Market Resilience

According to the analyst, the price must go above $2.30 to confirm the bullish trend. Achieving the price goal will increase buying activity and prepare for the next one at $2.65. This event may alter the overall market sentiment, suggesting a potential rise for token in the coming days.

Such progress led many cryptocurrency supporters to collaborate as the currency gained greater momentum. The community’s strong support has contributed significantly to the coin’s achievements and remains crucial to its progress.

Over the past few weeks, XRP has held up well, even during market fluctuations. Its price staying above critical levels has given investors a positive outlook. If coin approaches $2.30, traders and investors will closely follow its performance. If the market moves above this point, interest from both retail and institutional investors might increase again.

At the time of writing, cryptocurrency is trading at $2.21, and the total trading volume for the last 24 hours is $1.97 billion. There has been a 3.25% price rise over the last 24 hours, but over the past week, it has fallen 4.51%.

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If XRP maintains a price over $2.30 and proceeds upward, it could soon reach the $2.65 level. The main levels give important indications about where the cryptocurrency is headed in the future. The crypto community is eagerly watching Ripple’s future actions.

If the XRP community keeps supporting it and the technical setup remains positive, the token could soon rise sharply. When the breakout goes as expected, the coin might increase substantially in value in the short term. Closely watching these crucial prices is vital as the token moves to its next stage.

Related Reading: Bitcoin Forms Bullish Cup & Handle Pattern Aiming for $200K

XRP’s Institutional Breakthrough: VivoPower’s $100M Game-Changing Investment

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  • VivoPower invests $100M in XRP, becoming the first Nasdaq-listed firm to embrace the digital asset.
  • Growing institutional interest in XRP highlights its emerging role as a strategic alternative to Bitcoin.
  • The $121 million capital raise supports VivoPower’s DeFi plans and its commitment to the XRP Ledger.

VivoPower, a firm trading on Nasdaq, has revealed plans to invest $100 million in XRP. With this change, VivoPower becomes the first publicly traded company to promote XRP, marking a significant milestone for larger institutions to embrace digital currencies. The partnership with BitGo enables the company to safeguard its XRP assets and advance its involvement in decentralized finance (DeFi).

The strategy is created as large companies continue to diversify their treasury holdings by including digital assets like Bitcoin. VivoPower’s actions show that firms are now paying more attention to XRP. Initially, Bitcoin was the leading crypto for companies’ treasuries, but now XRP is emerging as an appealing alternative for strategic investments.

Shifting Crypto Landscape

Analysts believe this will significantly alter the landscape of the cryptocurrency industry. Jungle Inc Crypto News pointed out that the move was more of a treasury strategy than a risky investment. According to Jungle Inc., this agreement may encourage other public companies to incorporate XRP into their business strategies.

Unlike others, VivoPower considers cryptocurrency a long-term investment option. It is evident from the announcement that Ripple is an essential element of the company’s plans in decentralized finance. Through its deal with BitGo, VivoPower will be able to manage its Ripple assets with expected high levels of security and efficiency.

BitGo CEO Mike Belshe pointed out that VivoPower’s move demonstrates that more institutions are interested in digital assets besides Bitcoin. He noted that the token is being viewed by more businesses as a means to enhance their operations. VivoPower is recognized for supporting the same wider shift toward growing institutional adoption.

XRP Ledger Expansion

VivoPower has recently raised $121 million and will allocate this money towards building infrastructure on the Ripple Ledger. Furthermore, VivoPower has submitted its registration statement to the U.S. Securities and Exchange Commission, demonstrating its strong commitment to adhering to the rules in the cryptocurrency sector.

The move by VivoPower is encouraging other companies to start adopting digital assets. Reitar Logtech from Hong Kong has announced its plan to acquire Bitcoin, valued at $1.5 billion, to enhance its logistics technology services in Asia. This indicates that using cryptocurrency is increasing among companies in various industries.

Now that major companies are adopting Ripple and Bitcoin, the digital asset market is set for more growth among institutions. This is an important step in the evolution of Ripple, with VivoPower’s help, and is expected to make Ripple a prominent digital asset in the future.

Related Reading: $500M Solana Investment Planned by Classover to Strengthen Treasury

Bitcoin Climbs to $105K While Support at $96,700 Remains in Focus

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  • Bitcoin is testing key support at $96,700, with a potential rebound if it holds after recent price dips.
  • The Fear & Greed Index remains neutral, suggesting slow market movement and a possible Bitcoin price recovery.
  • As Bitcoin dominance increases, altcoins face downward pressure, with investors focusing more on Bitcoin.

Bitcoin is on the verge of testing support at $96,700, and if it does, it could bounce back after the minor drop in its value. CryptoQuant revealed that the crucial level is also the average price at which short-term investors bought, making it an important level for traders to observe. If this level is sustained, the latest decline may be over, and a recovery period could start.

The Fear & Greed Index is at a neutral value, indicating that the market does not currently exhibit high levels of optimism. The cryptocurrency market appears to be quiet, lacking signs of aggressive buying, which is typically associated with price surges. Since buying is slow, Bitcoin’s price could move more calmly and a return above the $96,700 support is expected. Investors have the opportunity to use this pattern to invest right as the price heads upward after a dip.

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Source: X

Bitcoin Dominance Rising

The cryptocurrency market is closely watching how Bitcoin behaves near its support level at $96,700. If the price doesn’t drop and continues to increase, it could mean Bitcoin is regaining strength after its recent drop. After recovering, investors could feel more secure about getting back into the market. However, if the price continues to drop after this level, it could indicate that there are more dips to come before it recovers.

Alternative coins, including Ethereum, are losing strength due to the increased dominance of Bitcoin. As Bitcoin Dominance goes up, investors tend to shift away from altcoins and focus more on BTC. The trend indicates that altcoins may not do well when BTC goes down, since their prices usually move in sync with BTC market.

As of press time, BTC is trading at $105,244, and the trading volume for the past 24 hours is approximately $23.43 billion. While BTC gained 0.87% in the last day, it has lost 4.05% over the last week.

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Market Stabilization Signals

Investors should not panic and regularly look for signs that the market may be stabilizing. After the correction phase ends and liquidity comes back, there might be chances to take new positions. Nevertheless, as long as the signals of recovery remain unclear, it is better not to rush into risky decisions, since volatility still affects the market.

BTC movement next will likely be determined by its $96,700 support. While waiting for a rebound, investors are advised to monitor the market and be prepared to enter it when the correction finishes.

Related Reading | Ethereum’s Critical Support Zones: Will $2,400 Hold or Lead to Further Losses?