Bitcoin stalls below $108K as long term holders sell, ARB, AERO, PYTH led altcoins

Bitcoin drifted sideways during Monday’s Asian session, showing little ambition to break free from its narrow trading range as the market treaded cautiously with a hint of optimism. Across the broader crypto landscape, the total market capitalisation shed around 2.5%, with most of the pain felt in the altcoin space. Market sentiment, however, hadn’t turned sour just yet. The Crypto Fear & Greed Index remained in “Greed” territory, though it dipped two points to 66, hinting at a touch of hesitation creeping in. Why is Bitcoin price stuck? Bitcoin traded within a tight range between $106,951 and $108,771 throughout the day as long-term holders continued to exert selling pressure, effectively capping upward momentum despite a surge of institutional interest. Capriole Investments founder Charles Edwards attributed the recent slowdown to long-term holders, who have been offloading their positions since the launch of spot Bitcoin ETFs in January 2024. “People are wondering why Bitcoin has been stuck at $100K so long, despite the institutional FOMO,” he said in a Sunday X post, explaining that recent buyer inflows are being absorbed by these early holders exiting the market. According to Edwards, Bitcoin’s holder profile is shifting, as six-month holders, mainly new entrants like corporate treasuries, are gaining ground. In just two months, this group has reportedly absorbed almost all the BTC that long-term holders have been unloading for the past 18 months. Rental traders were also booking profits ahead of the July 9 tariff deadline, wary of unresolved trade issues between the US and key trading partners that could rattle global markets. The looming deadline marks the potential implementation of reciprocal tariffs, adding pressure to risk assets across equities and crypto. Further caution stemmed from the anticipation of key macroeconomic updates out of the US this week. Simultaneously, market participants are closely watching progress on developments surrounding President Trump’s proposed budget bill, which includes controversial spending cuts and tax reforms. Investors remain on edge, as any unexpected shifts in fiscal or trade policy could trigger a broader risk-off move, prompting capital to flow out of riskier assets like cryptocurrencies and into safer havens. What’s next for Bitcoin? Despite the broader dip in risk appetite, some traders remain convinced that a breakout to fresh all-time highs is only a matter of time. Bitcoin’s price has remained stuck below $108,000 since falling under that threshold on June 11, and market watchers say the key battleground lies just above. Price activity over the past 24 hours shows repeated attempts to build a base around $106,000–$107,000, with strong buy interest absorbing downside pressure. Meanwhile, significant ask-side interest continues to stack up around $109,000 and stretches as high as $113,000, suggesting a potential squeeze scenario if upward momentum returns. “Bitcoin is pushing into the $109,000 liquidity this morning as mentioned last night. The question is, will it have enough to push on through and hold?” crypto analyst AlphaBTC said in a Monday X post. As of press time, Coinglass data shows Bitcoin grinding through high-risk zones near $108,000. Clearing the $109,000–$113,000 band could trigger a sharp move higher as leveraged short positions get wiped out. Binance – BTC/USDT 24 hr liquidation heatmap. Source: Coinglass. MN Capital founder Michael van de Poppe flagged $109,000 as the next major resistance. He noted that BTC was hovering near $107,450 and might face a brief pullback after soaking up some overhead liquidity. Still, he maintained that the path to new highs remains intact. Michaël van de Poppe @CryptoMichNL · Follow The inevitable breakout to an ATH on #Bitcoin might even happen during the upcoming week. Such a bullish setup. 12:48 PM · Jun 28, 2025 614 Reply Copy link Read 183 replies Meanwhile, pseudonymous analyst Mags based their expectations on an inverted head-and-shoulders pattern forming on the higher timeframes. Mags @thescalpingpro · Follow #Bitcoin breakout incoming.. 1:00 PM · Jun 29, 2025 1.5K Reply Copy link Read 93 replies With the neckline sitting at $112,000, a confirmed breakout above that level could set the stage for a run toward uncharted territory. Some bullish momentum may also come from the monthly and quarterly candle closes, both of which are now drawing attention. Bitcoin looks set to close June in the green, despite headline-driven volatility that kept traders on edge throughout the month. According to data from CoinGlass, BTC is on track for a 30% gain for Q2 2025, an impressive quarterly performance that many traders believe could act as a launchpad for renewed upside. A green June close, paired with a strong quarterly candle, is fuelling confidence that Bitcoin’s current consolidation is a pause rather than a local top. When writing, Bitcoin was hovering around $107,517, down 0.2% in the past day. Top altcoin gainers The altcoin market in the past 24 hours rose 2.3% to an intraday high of $1.32 trillion before ending the day 1.3% lower at $1.28 trillion. This came as the Altcoin Season Index reading fell to 19. Ethereum, the largest altcoin by market cap, dipped slightly over the day, trading at a little above $2.400 as of press time. Other large-cap altcoins like Solana (SOL), Tron (TRX), Dogecoin (DOGE), and Cardano (ADA) also recorded slight gains while XRP (XRP) remained relatively flat for the day. Arbitrum (ARB) led daily gains among the top 99 altcoins with 14.5% gains, while Aerodrome Finance (AERO) and Pyth Network (PYTH) followed with gains of 6.1% and 5% respectively. Source: CoinMarketCap ARB’s price shot up today as rumors of a potential partnership with popular retail trading platform Robinhood saw renewed momentum on news that a key official from Offchain Labs, the team behind Arbitrum, would join Robinhood’s crypto GM at a panel during an event hosted by Robinhood Europe in Cannes. Traders are likely expecting the project to confirm the partnership. Meanwhile, AERO rallied after the Aerodome developers teased a major announcement set to be unveiled later this week. As for PYTH, today’s gains were triggered after Keyring Network, in collaboration with Euler Finance, Multipli, and Pyth Network, announced the launch of zkVerified markets on Avalanche. Traders responded positively to the development, viewing it as a major step toward bridging institutional capital with DeFi in a privacy-preserving way. With Pyth supplying real-time price feeds for the new markets, demand for its oracle services is expected to rise. The post Bitcoin stalls below $108K as long term holders sell, ARB, AERO, PYTH led altcoins appeared first on Invezz

Source: Invezz