Bitcoin Holds Above $100K as Market Cools; Ethereum Eyes $3K Breakout

Bitcoin (BTC) slipped to a nine-day low of $105,750 on Thursday before recovering slightly above $106,000, marking a 1.5% drop in 24 hours. Despite the decline, the leading cryptocurrency remains just 5% below its all-time high and has consistently held above $100,000 for over 20 days—highlighting continued bullish momentum.

The broader crypto market cooled as well, with the CoinDesk 20 Index down 0.9%. Solana (SOL) and Avalanche (AVAX) underperformed, losing 1.8% and 2% respectively, while Ethereum (ETH) and XRP showed strength, gaining between 1% and 2%.

Crypto-related stocks had mixed results. Coinbase (COIN) fell 2.7%, while MicroStrategy (MSTR) edged up 0.8%. Bitcoin mining companies Bitfarms (BITF), Bit Digital (BTBT), CleanSpark (CLSK), and Greenidge (GREE) all posted losses around 4%.

In traditional markets, U.S. equities gave up recent gains following a court ruling that temporarily reinstated tariffs, creating added investor uncertainty. According to LMAX Group’s Joel Kruger, digital assets are expected to remain volatile as trade deadline pressures mount, but Bitcoin’s price resilience reflects strong market sentiment.

Meanwhile, Ethereum is showing signs of breaking out from its long-term downtrend against BTC. SharpLink Gaming’s $425 million ETH treasury plan is boosting investor confidence. B2 Ventures' Arthur Aziz noted a bullish ascending triangle forming on ETH charts. He sees the $2,750 resistance as a hurdle, with $2,550–$2,450 as key support. A breakout past $3,000 is possible, but traders using excessive leverage could trigger cascading sell-offs if support levels break.

Overall, crypto markets remain volatile but resilient, with Bitcoin’s stability and Ethereum’s bullish setup offering reasons for cautious optimism.