Bitcoin Holds Above $105,000 as ETH and DOGE See Gains
Bitcoin (BTC) remains above $105,000 following a weekend sell-off that resulted in nearly $1 billion in liquidations. Key points include:
- Ether (ETH) gained 4.5%, driven by restructuring within its Foundation to enhance protocol development.
- Dogecoin (DOGE) rose 3%, while Solana (SOL), Cardano (ADA), XRP, and BNB added up to 2.5% gains.
- The CoinDesk 20 index increased by 2%.
- Traders are cautious as technical signals suggest a potential cooling period for BTC after recent gains.
- Ryan Lee from Bitget Research forecasts BTC may consolidate between $103,000 and $108,000, with $100,000 as psychological support.
- If this support fails, targets near $97,000–$93,000 could be tested.
- On-chain data indicates continued whale accumulation, signaling potential bullish corrections.
- For ETH, resistance near $2,800 remains, with momentum capped unless it surpasses $2,810.
- Geopolitical risks, including U.S.-China trade tensions, may contribute to market volatility.
Overall, the macro outlook for BTC remains strong despite short-term challenges.