Fading Solana hype and rising institutional inflows are boosting Ethereum’s fundamental strength.

Gold fractal boosts Ethereum price potential to hit $6K

Bitcoin price started a fresh decline and tested the $104,200 zone. BTC is now 
consolidating and might struggle to clear the $106,800 resistance zone. 
Bitcoin started a consolidation phase above the $104,000 zone. The price is 
trading below $106,000 and the 100 hourly Simple moving average. There is a 
bullish trend line forming with support at $104,450 on the hourly chart of the 
BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if 
it clears the $106,800 resistance zone. Bitcoin Price Dips To Support Bitcoin 
price started a fresh decline and traded below the $105,650 support zone. BTC 
even traded below the $105,200 level and tested the $104,200 zone. A low was 
formed at $104,279 and the price is now consolidating losses. There was a move 
above the $104,500 level and the 23.6% Fib retracement level of the recent 
decline from the $106,820 swing high to the $104,279 low. Bitcoin is now 
trading below $106,000 and the 100 hourly Simple moving average. There is also 
a connecting bullish trend line forming with support at $104,450 on the hourly 
chart of the BTC/USD pair. On the upside, immediate resistance is near the 
$105,500 level. It is close to the 50% Fib retracement level of the recent 
decline from the $106,820 swing high to the $104,279 low. The first key 
resistance is near the $106,220 level. The next key resistance could be 
$106,800. A close above the $106,800 resistance might send the price further 
higher. In the stated case, the price could rise and test the $107,500 
resistance level. Any more gains might send the price toward the $110,000 
level. More Losses In BTC? If Bitcoin fails to rise above the $106,000 
resistance zone, it could start another decline. Immediate support is near the 
$104,500 level and the trend line. The first major support is near the 
$104,200 level. The next support is now near the $103,200 zone. Any more 
losses might send the price toward the $102,500 support in the near term. The 
main support sits at $101,200, below which BTC might gain bearish momentum. 
Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish 
zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below 
the 50 level. Major Support Levels – $104,200, followed by $103,200. Major 
Resistance Levels – $105,500 and $106,800.

Bitcoin Price Slips Again, Triggering Fresh Fears of a Deeper Correction

Despite recent volatility, several key indicators are pointing to a bullish 
undercurrent for Bitcoin (BTC). These include Binance’s rising market 
dominance, renewed accumulation by long-term holders (LTH), and significant 
BTC withdrawals from major crypto exchanges. Bitcoin Showing Signs Of Renewed 
Strength At the time of writing, Bitcoin is trading in the mid-$100,000 range 
&#8211; approximately 6.1% below its latest all-time high (ATH) recorded on May 22. 
The flagship cryptocurrency has declined more than 3.5% over the past seven 
days amid renewed concerns over global trade tensions and tariffs. Related 
Reading: Bitcoin Surges With Low Retail Interest – Is A Second Wave Coming? 
However, according to a recent CryptoQuant Quicktake post by contributor Amr 
Taha, several bullish signals have emerged since the start of June. Most 
notably, the LTH Net Position Realized Cap recently crossed the $20 billion 
threshold, reflecting increased confidence among seasoned investors. For 
context, LTHs are entities that have held BTC for over 155 days. Often 
referred to as &#8220;smart money,&#8221; these investors typically follow long-term 
strategies and are less likely to sell during short-term market corrections. 
The Realized Cap metric tracks the total value of BTC held by LTHs, based on 
the price at which coins were last moved. A rising value in this metric 
implies accumulation by long-term investors &#8211; behavior that historically 
precedes bullish continuation phases. Meanwhile, major exchanges such as 
Kraken and Bitfinex have witnessed substantial BTC outflows. Over two 
consecutive days, more than 20,000 BTC exited these platforms &#8211; marking one of 
the largest short-term withdrawal spikes in recent months. Such major Bitcoin 
withdrawals from exchanges are considered bullish because they signal that 
investors intend to hold their BTC in private wallets rather than sell it, 
reducing the available supply for trading. This supply contraction can create 
upward pressure on price, especially when demand remains steady or increases. 
At the same time, Binance has strengthened its lead in spot market dominance. 
Since early June, its share of BTC spot trading volume has increased from 26% 
to 35%, signalling growing market activity. This uptick aligns with BTC 
testing key resistance levels. Taha remarked: The convergence of rising 
exchange dominance, long-term holder confidence, and supply tightening paints 
a bullish picture for Bitcoin. While short-term corrections are possible, the 
underlying demand and reduction in available BTC on exchanges suggest that the 
uptrend is far from over. BTC Benefitting From Neutral Funding Rates, Low 
Selling Pressure Recent on-chain data shows that the BTC derivatives market 
has undergone a complete reset, with its funding rates now hovering around 
zero, not showing any directional bias. Similarly, selling pressure on BTC has 
remained subdued, evident from low Binance inflows. Related Reading: Bitcoin 
Upward Momentum ‘Highly Likely’ To Continue, On-Chain Data Shows That said, 
some caution is warranted. Fresh on-chain data suggests that cracks may be 
forming in the sustainability of the current bullish momentum. At press time, 
BTC trades at $105,022, down 0.3% in the past 24 hours. Featured image from 
Unsplash, charts from CryptoQuant and TradingView.com

Bitcoin Signals Strength As Long-Term Holder Realized Cap Surges Past $20 Billion – Details

JPMorgan CEO delivers a dire wake-up call as he warns that internal chaos 
could dethrone the U.S. dollar and shatter American global supremacy. JPMorgan 
CEO Jamie Dimon Questions Future of US Dollar as Reserve Currency Amid 
Domestic Decline JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon issued a stern 
warning at the Reagan National Economic Forum […]

JPMorgan CEO Warns US Dollar Could Lose Reserve Status Without Reform

Bitcoin is surging into the spotlight as Coinbase’s CEO and Elon Musk sound 
alarms on U.S. debt, signaling the crypto’s rise as a serious reserve currency 
contender. Elon Musk Supports Coinbase Outlook: Bitcoin May Topple US Dollar 
as Reserve Currency Coinbase CEO Brian Armstrong voiced concern on June 3 on 
social media platform X over […]

Elon Musk Backs Coinbase Warning: Bitcoin Could Replace Dollar Amid US Fiscal Crisis

USDC issuer Circle has again upsized its initial public offering above the 
marketed range, selling 34 million shares at $31 each.