Ethereum price may be on the verge of a bullish breakout to $4,000 after forming a bullish flag and a golden cross pattern, and as the iShares Ethereum ETF nears a crucial milestone. Ethereum (ETH) was trading at around $2,500…

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Based on current data, the 12 U.S. spot bitcoin exchange-traded funds (ETFs) 
collectively manage over 1.2 million BTC. Yet, two in particular—Blackrock’s 
IBIT and Fidelity’s FBTC—command a striking majority, accounting for more than 
71% of that aggregate. Wall Street’s Bitcoin Giants: IBIT, FBTC, MSTR Tighten 
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The Bitcoin price has not had quite the same spark it did at the beginning of 
the last month so far in June. The premier cryptocurrency has somewhat 
struggled to break out of a consolidation range since reaching a new all-time 
high in the month of May. The Bitcoin price recently succumbed to bearish 
pressure, falling to around $101,000 on Friday, June 6. While the market 
leader has enjoyed some resurgence to begin the weekend, a prominent 
blockchain firm has now identified significant levels in the event of a return 
to the $100,000 level in the coming days. Here Are The Next Support Levels For 
BTC In a June 6 post on the social media platform X, crypto analytics firm 
Sentora (previously known as IntoTheBlock) revealed an interesting on-chain 
perspective on the price of Bitcoin and its latest dip toward $100,000. 
According to the intelligence platform, there are some significant levels 
lying just beneath the six-figure valuation threshold. This analysis is based 
on the average cost basis of several Bitcoin investors and the distribution of 
the BTC supply around the current price. For context, cost-basis analysis 
basically evaluates the capacity of a price level to act as support or 
resistance, depending on the volume of crypto last acquired by investors at 
this level. As observed in the chart below, the size of the dots directly 
corresponds with the quantity of BTC purchased within each price bracket and 
the region’s capacity to act as support or resistance. This implies that the 
larger the dot, the higher the number of coins purchased, and the stronger the 
support or resistance level; the green dots are support (as they are usually 
below the current price), while the red dots serve as resistance (as they are 
above the asset price). According to data by Sentora, the Bitcoin price seems 
to have major support within the $95,000 &#8211; $99.000 region due to heavy 
accumulation by investors. This price zone would serve as an on-chain cushion 
for the Bitcoin price, as investors with their cost bases around the level are 
likely to defend their positions by acquiring more coins if the price falls 
toward the $95,000 – $99,000 zone. Sentora mentioned that if the bulls do 
defend this support level, the Bitcoin price could be in for an extended 
rally. On the flip side, the on-chain firm asked investors to expect a surge 
in volatility if this support level fails to hold. Bitcoin Price At A Glance 
As of this writing, the price of BTC sits just above $104,400, reflecting an 
almost 3% increase in the past 24 hours. Related Reading: Traders Turn Bearish 
on Bitcoin Following High-Profile Political Tensions, Data Shows Featured 
image from iStock, chart from TradingView

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XRP is currently showing signs of vulnerability as its recent price action is 
becoming increasingly bearish. After attempting to reclaim upside momentum 
above $ 2.60 in May, the cryptocurrency has struggled to maintain this run, 
and its price action over the past few days has brought it close to losing the 
$2.10 price level. Notably, the price action has resulted in the formation of 
a head and shoulders pattern on the daily candlestick chart. This might be the 
final straw that finally sends the XRP price plummeting below $2. Related 
Reading: Bitcoin Scarcity May Spark Explosive Surge, Bank Study Shows XRP 
Breaks Head And Shoulders Neckline As identified by a crypto analyst on the 
social media platform X, XRP has now printed a classic head and shoulders 
formation, with clearly defined symmetry between the left shoulder, head, and 
right shoulder. The head and shoulders formation began taking shape in late 
April, when the price climbed to $2.26 to become the left shoulder of the 
pattern. In early to mid-May, XRP surged above $2.60 to create the head of the 
formation and what appeared at the time to be a resumption of strong bullish 
momentum. The rally lost steam soon after reaching that May peak, and the 
price began to retreat once again. By June 3, XRP made another attempt to push 
higher, reaching $2.27 in what is the formation of the right shoulder. 
However, this push wasn&#8217;t enough, and the ensuing price action has seen 
sellers gradually fighting for control. The head and shoulders pattern, which 
is often associated with trend reversals, became more concerning once XRP 
broke below the neckline around the $2.18 level to reach as low as $2.07 on 
July 6. Interestingly, the breakdown below the neckline was accompanied by 
increased volume, which provided additional confirmation of the bearish 
signal. EMA Rejections For XRP: What&#8217;s Next? Now that XRP has broken beneath 
the neckline, the $2.18 to $2.20 zone is beginning to flip into a firm 
resistance barrier for any attempt at recovery. The daily candlestick chart 
shows XRP continuing to trade below both the 9-day EMA and the 50-day SMA, 
which currently stand at $2.1877 and $2.2649 respectively. Despite a modest 
recovery over the past 24 hours, XRP has repeatedly failed to break back above 
the 9-day EMA since the neckline breakdown, showing persistent weakness in the 
short-term structure. As long as XRP is trapped beneath the neckline and the 
EMA/SMA resistance cluster, the prevailing structure continues to favor a 
downward extension. Based on the head and shoulders setup, a measured move 
from the neckline breakdown projects a decline toward the $1.85 to $1.80 
range. Related Reading: Bitcoin Network Activity Booming Despite A Quiet 
Market—Data At the time of writing, XRP now finds itself trading at the 
neckline resistance again at $2.18 after a 2.6% increase in the past 24 hours 
from $2.13. However, the strength of this bounce is questionable, as it has 
occurred alongside a sharp 48.14% drop in trading volume. The next 24 hours 
will be important, as price behavior around the $2.18 to $2.20 range could 
determine whether XRP resumes its descent and break below $2. Featured image 
from Unsplash, chart from TradingView