Bitcoin pauses its upward momentum at 105k level after explosive rally

After a series of explosive multi-week rally, Bitcoin paused its upward momentum after reaching the $105,000 level and sought support in the $101,000 to $100,000 range.

After an explosive multi-week rally, Bitcoin (BTC) slowed its upward momentum at the $105,000 level and looked for support in the $101,000 to $100,000 range. This pullback comes after a period of active buying that pushes BTC to several key resistance zones, including $90,000 and $100,000, which sparks optimism across the cryptocurrency market.

While this pullback may seem like a slowdown, many analysts see it as a healthy consolidation phase, after which another potential upward phase may occur.

Encrypted data shows that over the past 20 days, more than $6 billion of liquidity has entered the market through newly issued USDT. This massive capital injection brings Tether’s total market capitalization to an impressive $150 billion, demonstrating growing investor equity.

As this liquidity flows into the ecosystem, the focus is now on whether Bitcoin can maintain its current support zone and continue to push its all-time high. This consolidation phase may be critical. If BTC manages to stay above $100,000, the bullish trend remains intact. Otherwise, deeper adjustments may be made as the market digests recent gains. Now everyone's eyes are on price behavior within this key range.

AltCoin rotation accelerates Bitcoin’s stagnation at all-time highs

Bitcoin is currently trading at key levels, with the Bull working to defend the $100,000 area and recovering $103,000 to break through all-time highs.

Although still in a structural bullish position, it failed to continue to rise last week after reaching $105,000, triggering a backtrack and testing key support levels. Holding a $100,000 range is crucial to avoid deeper adjustments and maintaining one of the most powerful gatherings of the year.

However, the market's attention began to shift elsewhere. Top analyst Axel Adler shared his insights on X, pointing out that over the past 20 days, the $6 billion fresh capital entering the cryptocurrency space through the newly issued USDT has pushed Tether's total market capitalization to $150 billion.

Although this liquidity influx initially supported the surge in Bitcoin, recent trends have begun to tilt towards altcoins. As Bitcoin’s advantage begins to decline, Ethereum and other top altcoins claim to receive significant capital inflows.

This rotation shows that investors' confidence in high-risk opportunities continues to increase, especially as ETH recovers key levels and Altcoins demonstrates breakthrough potential. If Bitcoin continues to consolidate, Altseason's momentum may accelerate further in the coming weeks.

BTC test resistance as buyers defend key levels

After a sharp episode, Bitcoin is currently consolidating below the $103,600 resistance level, which has allowed the price to rise from under $90,000 to more than $105,000 in less than two weeks. As can be seen from the daily chart, BTC repeatedly tested the $103,600 level, and the area acted as a cap at its January and March highs. Despite multiple breakthrough attempts, prices have not yet ensured a daily close-up above this level, indicating a high supply pressure.

Currently, support is in the $101,000 range, which coincides with the number of psychological cycles and previous breakthrough zones. So far, the Bulls have defended this level, showing the power to maintain the current structure. The 200-day SMA is $91,781 and the 200-day EMA is $87,508, which is well below the current price level, confirming a strong uptrend for Bitcoin but also suggesting an overheating setup that may exist in the near term.

Continuous breakthroughs of $103,600 will open the way for a retest of the $109,000 price. However, if you cannot hold more than $100,000, it may trigger deeper areas of lower demand. At present, Bitcoin is still in a bullish position, but the market is waiting for confirmation of the quantity and price action to verify the next action.

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