Bitcoin Holds Firm Above $105K Despite Market Turmoil and Global Trade Tensions
Even as global markets reel from renewed trade tensions and a wave of liquidations, Bitcoin continues to demonstrate surprising strength, underscoring its growing role as a resilient asset.
On Tuesday, Bitcoin (BTC) held steady at $106,796.37, remaining above the key $105,000 level. This comes after a volatile start to the week that saw nearly $1 billion in crypto liquidations over the weekend and Monday, unsettling many traders.
Ether (ETH) led the charge among major digital assets, gaining 4.5% to reach $2,635.26. The surge followed a strategic restructuring by the Ethereum Foundation, aimed at accelerating protocol development to better compete in an increasingly crowded blockchain landscape — a move that sparked renewed investor optimism.
Dogecoin (DOGE) posted a 3% gain to $0.19793, while Solana (SOL), Cardano (ADA), XRP, and BNB rose by as much as 2.5%. The CoinDesk 20 Index (CD20), which tracks the largest and most liquid digital assets, advanced 2% on the day.
Still, after several weeks of strong upward momentum, some analysts are starting to question how much longer the rally can last.
“This price stabilization around $105,000 may just be a natural pause after an extended rally,” said Ryan Lee, Chief Analyst at Bitget Research, in a note to CoinDesk. “We’re seeing high trading volumes but also early signs of exhaustion.”
Lee predicts Bitcoin could trade in a range between $103,000 and $108,000, with $100,000 serving as critical psychological support. Should that level break, he warned, the next potential downside could fall between $97,000 and $93,000.
However, Lee noted that on-chain metrics still show continued whale accumulation, a historically bullish signal. “Any correction could turn into a buying opportunity,” he added.
Turning to Ethereum, Lee observed persistent resistance near $2,800, characterized by multiple rejections and long upper shadows in the chart. “The fundamentals remain strong,” he said, “but ETH must clear $2,810 convincingly for any sustained upside momentum.”
Zooming out, Bitcoin’s broader performance remains impressive.
“Year-to-date, BTC is still a top performer both macro-wise and against equities,” said Augustine Fan, Head of Insights at SignalPlus, in a Tuesday message to CoinDesk. “However, we are seeing seasoned holders — the ‘OGs’ — increasingly selling into strength, while newer entrants keep buying.”
Market sentiment continues to be tested by global events. A growing rift between the U.S. and China, marked by new tariff threats, is adding to the sense of unease. Singapore-based QCP Capital highlighted these geopolitical risks in a Monday market broadcast, warning that upcoming policy decisions in early July could further fuel volatility.
For now, Bitcoin remains in a position of leadership.
“BTC is still sitting at the top of the crypto hierarchy,” QCP concluded, underscoring the asset’s ability to weather uncertainty — for now.
