Bitcoin Stays Above $103k as Traders Become Wary of $105K Price Resistance

TL;DR

• BTC is still trading above $103k, but traders are cautious of exhaustion, with a resistance level around $105k.

• Altcoins experienced mixed performances, with XRP losing 3% of its value in the last 24 hours.

BTC Traders Cautious of $105k Price Resistance

The cryptocurrency market has had a positive week so far, with Bitcoin currently trading above $103k per coin. However, traders are cautious of exhaustion as the leading cryptocurrency is facing resistance around $105k.

At press time, BTC is trading at $103,941, up 1.5% in the last 24 hours. Ruslan Lienkha, chief of markets at YouHodler, told Cryptowisser in an email that the market could experience a short-term correction before resuming its upward movement. Lienkha added that,

“The upward momentum in equity markets has moderated following the conclusion of tariff negotiations, as short-term traders began locking in profits, triggering corrective movements. This shift in sentiment has spilled over into riskier assets, including Bitcoin. As a result, the current pullback appears to be a correction within a broader medium-term uptrend. However, ongoing global economic uncertainty and persistently high interest rates in the U.S. may act as headwinds, potentially capping the upside potential of this trend.”

While Bitcoin holds its price above $103k, altcoins recorded mixed performances in the last 24 hours. Ether, the second-largest cryptocurrency by market cap, added 1% to its value and now trades at $2,592 per coin.

Meanwhile, XRP has lost 3% of its value, making it the worst performer among the top 10 cryptocurrencies by market cap. BNB and Tron (TRX) both up 1%, while Dogecoin (DOGE) is down 1% in the last 24 hours. The market’s mixed performance saw the total cryptocurrency market cap add less than 1% to its value and now stands at $3.33 trillion.