Crypto Prices Today: Bitcoin slips below $108,000; Altcoins trade mixed
dipped below $108,000 on Wednesday, trading at $107,954 as of 12:47 PM IST, after touching an intraday low of $106,812. The global
crypto market
capitalisation declined 0.26% to $3.42 trillion, according to CoinMarketCap.
Ethereum
, in contrast, gained 3.5% to $2,728, supported by technical strength and positive momentum. Among
altcoins
, Solana, Tron, Sui, Hyperliquid, Chainlink, and Stellar fell up to 3%, while BNB, Dogecoin, Cardano, Avalanche, and Shiba Inu rose as much as 2%.
'Bitcoin bounced back after testing support near $106,800,' said Alankar Saxena, Co-founder and CTO of Mudrex. He noted that the market is anticipating fresh liquidity from FTX's $5 billion creditor payouts, which could boost both Bitcoin and Ethereum. Additionally, $2.4 billion worth of
Ether options
are set to expire this week, potentially supporting ETH's attempt to break above the $3,000 level.
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Ethereum
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BNB
58,548 (
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Tether
86 (
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XRP
195 (
-0.58%
)
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Bitcoin
9,224,586 (
-0.89%
)
Buy
Riya Sehgal, Research Analyst at Delta Exchange, said Bitcoin is currently ranging between $106,500 and $110,000. 'A breakout above $110,000 could signal continuation, while a dip below $106,500 may open downside toward $104,000,' she said, adding that market structure remains 'neutral to slightly bullish.'
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While retail sentiment has turned cautious amid geopolitical tensions and U.S. tariff concerns, institutional flows continue to support the market. Sehgal highlighted that BlackRock's iShares Bitcoin Trust alone saw $970 million in inflows on May 28, contributing to over $3 billion in total
ETF inflows
last week.
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Shivam Thakral, CEO of BuyUcoin, attributed some of the recent selling pressure to profit booking by short-term holders. 'The Crypto Fear & Greed Index indicates heightened fear, suggesting the market may remain choppy in the coming weeks,' he said.
Ethereum shows relative strength
Ethereum has managed to hold above $2,720, supported by its 100-hour simple moving average and a key trend line at $2,610. Sehgal noted that ETH appears stronger than Bitcoin near critical levels, with resistance seen at $2,780, $2,800, and $2,840. A break above $2,800 could open the way to $2,950, she added.
Meanwhile, Bitcoin's dominance fell to 62.7%, with a market cap of $2.145 trillion. Daily trading volume declined 2% to $50.73 billion.
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