Bitcoin Rally Shows Signs of Cooling as Traders Eye Key Support Levels

Bitcoin’s recent rally is showing signs of fatigue, prompting traders to closely monitor key price levels amid growing caution in the market. After weeks of strong gains, BTC is hovering around the $105,000 mark, raising speculation of a possible consolidation phase.

According to Bitget Research Chief Analyst Ryan Lee, this pullback is a “natural cooling” following elevated trading volumes. He noted that Bitcoin may consolidate between $103,000 and $108,000, with $100,000 acting as a critical psychological support. Should that level break, downside targets near $97,000 to $93,000 may be tested. Still, Lee pointed out that on-chain data indicates continued whale accumulation—a bullish signal suggesting any correction could become a strategic buying opportunity.

Ethereum (ETH) also shows signs of losing short-term momentum. Lee highlighted repeated rejections near the $2,800 level, with long upper wicks suggesting market hesitation. “ETH’s broader strength remains intact, but a breakout above $2,810 is needed to resume upward momentum,” he added.

SignalPlus Head of Insights Augustine Fan emphasized Bitcoin’s strong performance year-to-date, outperforming traditional equities. However, he warned of potential near-term pressure, as early crypto adopters continue to sell into mainstream demand, signaling a more cautious trading environment.

Geopolitical uncertainty is also impacting sentiment. Singapore-based QCP Capital noted that renewed U.S.-China tariff concerns and looming policy deadlines in July could increase market volatility. Despite these challenges, Bitcoin remains dominant, maintaining its position at the top of the crypto market hierarchy.

With growing macroeconomic risks and mixed technical signals, traders remain alert as Bitcoin tests the strength of its recent rally.