- Bitcoin is consolidating near $107,000 amid short-term seller pressure, despite strong institutional interest and significant BTC acquisitions.
- Meanwhile, Ethereum struggles to break key resistance levels even as whales accumulate large amounts, signaling cautious optimism but ongoing price challenges.
Bitcoin Stays Strong Amid Resistance, Sellers Test the Waters
Bitcoin (BTC), the undisputed leader of the crypto market, is currently consolidating near the $107,000 mark after briefly spiking to $108,915. Despite strong institutional demand — including a $1.05 billion BTC acquisition by Strategy and Metaplanet’s reserve surpassing 10,000 BTC — the momentum has been capped by consistent profit-taking at higher levels.
At the time of reporting, BTC was trading around $107,231, up 0.56% over the past 24 hours, with a trading volume of $53.98 billion and a market cap of $2.13 trillion. According to analysts, Bitcoin is forming lower highs on declining volume — a classic sign of short-term seller dominance. While BTC holds firm above $106,000, analysts like Riya Sehgal warn that a dip below this level could send the price tumbling toward $104,000 or even $101,500. Conversely, a strong move above $108,000 might reignite hopes of retesting $110,000 resistance.
Ethereum Whales Make a Splash, But Price Lags
Ethereum (ETH), the second-largest crypto, saw a record-breaking whale inflow of 818,000 ETH — the largest daily accumulation in over six years. Despite this, ETH couldn’t break past the $2,620–$2,640 resistance range and remains caught in a bearish pattern of lower highs and lower lows.
At last check, Ethereum was trading at $2,581.35, down 1.36%, with a 24-hour trading range of $2,528.20–$2,680.09. Analysts caution that if ETH falls below the $2,560 level, further declines to $2,500 and $2,440 are likely. However, any bounce from current levels could hint at early recovery signs.
ETF inflows suggest growing institutional interest — Bitcoin ETFs saw $408.6 million in net inflows on June 16, while ETH ETFs added $21.4 million. Still, price action remains tepid, highlighting the ongoing tug-of-war between bullish accumulation and technical resistance.
Bitcoin’s resilience near $107K and Ethereum’s whale support paint a picture of underlying strength, but both assets are struggling to break free from key resistance levels. Until buyers reclaim control, short-term volatility may dominate the crypto landscape.
