- Bitcoin rebounded above $101K amid rising geopolitical tensions, but technical indicators still show strong bearish pressure.
- Meanwhile, altcoins like Ethereum, XRP, and Solana continue to decline, falling below key support levels.
Bitcoin has surged back above $101,000 after briefly dipping below $98,500 over the weekend. This rebound highlights Bitcoin’s resilience during market stress, but altcoins like Ethereum, XRP, and Solana remain under heavy selling pressure. Bitcoin’s dominance now stands at 65%, signaling a major shift in investor confidence away from altcoins.
Altcoins Face Heavy Losses as Bitcoin Leads
While Bitcoin holds above a key support level around $101,500, major altcoins are facing deeper losses. Ethereum has dropped more than 7% in the past 24 hours and is now at risk of falling toward $2,000. XRP has broken below key support, with the potential to slide further to $1.80. Solana, Cardano, and Dogecoin have also posted sharp corrections, underscoring the widespread weakness among altcoins.
Technical Indicators Point to Continued Bearish Pressure
Bitcoin’s technical setup remains concerning. The Relative Strength Index (RSI) on the daily chart sits at 38, well below the neutral zone, indicating persistent downside risk. Meanwhile, the MACD shows a bearish crossover and growing red histogram bars, reinforcing expectations of further declines. A close below $101,500 could lead Bitcoin to retest the recent low of $98,200.
Market Caution as Bitcoin Dominance Grows
With rising geopolitical tensions and bearish market signals, traders are shifting toward Bitcoin as a safer alternative. Altcoins are increasingly seen as riskier assets in the current environment. Bitcoin’s growing dominance suggests that, despite its own vulnerabilities, it remains the preferred choice during uncertain times.
ALSO READ:How to Stake Terra Luna Classic (LUNC) Guide for Passive Rewards
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.
