The token fell from $0.01421 to $0.01319 during Wednesday&#8217;s Asian evening session. The 10.98% plunge came without any clear news catalyst, suggesting a reaction to broader crypto market weakness and a technical retest of key support. According to CoinMarketCap data,…

Onyxcoin price plummets 11%: what triggered the decline?

Bitcoin price started a fresh decline below the $106,200 zone. BTC is now 
consolidating and facing resistance near the $105,500 zone. Bitcoin started a 
fresh decline below the $106,000 zone. The price is trading below $106,000 and 
the 100 hourly Simple moving average. There is a key bearish trend line 
forming with resistance at $105,200 on the hourly chart of the BTC/USD pair 
(data feed from Kraken). The pair could start a fresh increase if it stays 
above the $103,500 zone. Bitcoin Price Starts Consolidation Bitcoin price 
started a fresh decline below the $108,000 zone. BTC gained pace and dipped 
below the $107,000 and $106,000 levels. There was a clear move below the 
$105,500 support level. Finally, the price tested the $103,500 zone. A low was 
formed at $103,400 and the price started a minor recovery wave. There was a 
move above the 23.6% Fib retracement level of the downward move from the 
$108,924 swing high to the $103,400 low. However, the bears were active below 
the $105,500 zone. Bitcoin is now trading below $105,500 and the 100 hourly 
Simple moving average. There is also a key bearish trend line forming with 
resistance at $105,200 on the hourly chart of the BTC/USD pair. On the upside, 
immediate resistance is near the $105,200 level. The first key resistance is 
near the $105,500 level. The next key resistance could be $106,150. It is near 
the 50% Fib retracement level of the downward move from the $108,924 swing 
high to the $103,400 low. A close above the $106,150 resistance might send the 
price further higher. In the stated case, the price could rise and test the 
$108,800 resistance level. Any more gains might send the price toward the 
$110,000 level. Another Decline In BTC? If Bitcoin fails to rise above the 
$105,500 resistance zone, it could start another decline. Immediate support is 
near the $104,200 level. The first major support is near the $103,500 level. 
The next support is now near the $102,650 zone. Any more losses might send the 
price toward the $101,200 support in the near term. The main support sits at 
$100,000, below which BTC might gain bearish momentum. Technical indicators: 
Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI 
(Relative Strength Index) – The RSI for BTC/USD is now near the 50 level. 
Major Support Levels – $104,200, followed by $103,500. Major Resistance Levels 
– $105,500 and $106,200.

Bitcoin Price Struggles to Reclaim Resistance — Sideways Action Dominates

Bitcoin (BTC) has seen a moderate price correction since June 11, falling from 
around $111,000 to just above $104,000 at the time of writing. While rising 
geopolitical tensions in the Middle East may be weighing on the asset, several 
analysts maintain that BTC’s long-term bullish trajectory remains intact. 
Bitcoin To Top At $205,000? In a recent CryptoQuant Quicktake post, 
contributor Carmelo Aleman pointed to the Bitcoin Yearly Percentage Trend as a 
signal of strong potential growth in BTC’s price through the rest of 2025. 
Related Reading: Bitcoin Sees Negative Funding On Binance – A Classic Setup 
For A Short Squeeze? For the uninitiated, the Bitcoin Yearly Percentage Trend 
tracks BTC’s annual price performance since 2011, revealing a recurring 
pattern of three bullish years followed by one year of consolidation. This 
trend aligns closely with Bitcoin’s four-year halving cycle, helping investors 
identify long-term market phases beyond short-term volatility. Aleman shared 
the following chart to support his outlook for 2025. If BTC maintains the 
growth pace typically seen in the third year of this cycle, it could climb 
120% in 2025. Such a surge would take BTC from $93,226 at the beginning of the 
year to as high as $205,097 &#8211; potentially marking the cycle top for this year. 
If realized, this would make 2025 the third consecutive year of gains and 
complete another full bullish cycle. This scenario suggests that BTC is 
currently in the final phase of its ongoing cycle, giving investors limited 
time to adjust their strategies to align with the market’s growth trajectory. 
Supporting this outlook, other cyclical metrics &#8211; such as Realized Cap &#8211; 
continue to post new all-time highs in 2025. Aleman concluded: The Bitcoin 
Yearly Percentage Trend is a tool that allows us to filter out daily market 
noise and reconnect with Bitcoin&#8217;s true cyclical nature. It reminds us that 
beyond micro metrics and short-term candles, Bitcoin adheres to a structural 
rhythm that repeats with striking consistency: three years of expansion 
followed by one of compression. On-Chain Indicators Suggest More Upside Beyond 
the Yearly Percentage Trend, several on-chain metrics continue to support a 
bullish case for BTC. Notably, both whale and retail BTC inflows to Binance 
have dropped to cycle-lows &#8211; often a sign that investors are holding in 
anticipation of further gains. Related Reading: Bitcoin Following ABCD 
Pattern? Analyst Sees Path To $137,000 Whales also appear to be accumulating 
ahead of a potential breakout. According to CryptoQuant analyst Amr Taha, 
Bitcoin whales withdrew 4,500 BTC from Binance on June 16 &#8211; a move 
historically associated with price rallies. Still, caution remains warranted. 
On-chain data indicates that short-term holders have been selling into the 
recent dip, which could temporarily suppress price momentum. At press time, 
BTC trades at $104,079, down 1.6% over the past 24 hours. Featured image with 
Unsplash, charts from CryptoQuant and TradingView.com

Bitcoin Yearly Trend Suggests Cycle Top Near $205,000 By Year-End, Analyst Says

Ripple urges Judge Torres to approve its joint SEC motion, securing reduced 
penalties, preserving prior rulings, and accelerating long-awaited resolution 
that could redefine XRP’s regulatory landscape. Ripple and SEC Urge Judge 
Torres to Acknowledge Settlement and End XRP Case Ripple’s legal team formally 
petitioned Judge Analisa Torres of the Southern District of New York on […]

Ripple and SEC Press Judge Torres to Approve Settlement Ending XRP Case

The Czech Republic’s Civic Democratic Party survived another no-confidence 
vote, triggered by opposition party concerns over a $45 million Bitcoin 
donation linked to a convicted criminal.

Czech gov’t resists 4th overthrow attempt amid $45M Bitcoin scandal

US President Donald Trump wants House members to pass the key stablecoin bill 
“LIGHTNING FAST” so that he can sign it into law.