Bitcoin Holds Above $105K as Altcoins Slide on Regulatory Jitters, Profit-Taking
The cryptocurrency market remained under pressure on Thursday, with profit-taking dragging down major altcoins and investors treading cautiously amid regulatory uncertainty. Bitcoin (BTC) held relatively steady, trading just above $105,000, as markets weighed short-term risks against long-term positioning.
Dogecoin (DOGE) and Cardano’s ADA led the downside among top tokens, falling sharply and reflecting broader weakness in risk assets. XRP, Solana (SOL), and BNB also posted moderate losses of around 1.5%, while Tron (TRX) stood out as the lone major gainer, rising 1.9%.
“Macro and policy developments continue to fuel caution in crypto markets,” said Anna Liu, CEO of HashKey Tokenization, in a Telegram message to CoinDesk. “While short-term volatility may persist, institutional flows into BTC and ETH ETFs show long-term interest in digital assets remains intact.”
Despite recent selling, overall sentiment remains positive. The Crypto Fear & Greed Index stayed in “greed” territory at 62, although it ticked down slightly over the past 24 hours.
From a technical perspective, FxPro Chief Market Analyst Alex Kuptsikevich noted that Bitcoin’s rebound from $103,000 last week could mark the beginning of a renewed uptrend. “This recovery could carry the market to new highs above $130,000 if momentum holds,” he said.
Meanwhile, Ether (ETH) continues to struggle with resistance at its 200-day moving average. Kuptsikevich highlighted $2,700 as a key breakout level that could signal the return of bullish sentiment.
However, not all signals are bullish. Analysts at CryptoQuant warned that Bitcoin may still correct lower, potentially testing the $96,700 level—roughly the average entry point for short-term holders.
