XRP News Today: Bitcoin Tests $108,000 Resistance Influencing Altcoins

Bitcoin is currently testing a crucial resistance level at $108,000, a move that is influencing the broader cryptocurrency market, particularly altcoins such as SEI, APT, ETH, and XRP. This resistance test is closely monitored by influential traders who are assessing the potential market impact and adjusting their strategies accordingly. The market's reaction to Bitcoin's approach to this resistance level is setting the stage for possible significant price movements.

As Bitcoin nears the $108,000 resistance, it is influencing key altcoins like SEI and APT. Market discussions are focused on derivatives and on-chain flows, as there have been no recent price predictions from major players. Crypto traders are eyeing the resistance tests, with SEI anticipating potential rallies driven by an inverse head-and-shoulders pattern. The sentiment around Ripple's XRP is shaped by regulatory speculation, as the crypto community assesses future spot ETF approvals.

Bitcoin's potential breakout to $111,980 could significantly impact altcoin markets, as historical volatility and reactions to resistance tests have shown. Institutional money flows and option expiries contribute to market dynamics, with on-chain data reflecting SEI's strong price activity and rising developer engagement. Regulatory updates and technological enhancements continue to shape community discussions and price trends.

Altcoin markets are experiencing shifts in sentiment as historical precedents show resistance tests creating volatility. SEI's projected range of $0.30–$0.75 depends on its market momentum, while APT targets breakout thresholds under watchful investor eyes. The expansion of developer interest in SEI is notable, highlighting the ecosystem's emergence amid broader market movements.

Bitcoin is currently inching closer to a key resistance level just below $109,000, with market sentiment remaining cautious about a potential breakout. The cryptocurrency has been slowly rising, but confidence in surpassing this resistance is low, leading some traders to place small short positions in anticipation of a rejection at this level. Ethereum, meanwhile, is trapped within its daily TBO Cloud with falling volume, indicating limited strength. If Bitcoin faces rejection at the resistance level, Ethereum could potentially fall to support at $2,188.

Bearish signals are multiplying across Ethereum and other altcoins. Stop Loss Hunting alerts are adding pressure to Ethereum, especially with the ETH/BTC pair showing a TBO Open Short signal, further confirming the bearish trend. A TBT Bearish Divergence on June 12th had already hinted at this outcome. Altcoins remain vulnerable due to strong Bitcoin dominance, which climbed to a new local high. Despite the daily RSI being above 70, it hasn't broken resistance, and the BTC.D still shows a strong bullish structure across both daily and weekly timeframes.

Dominance charts reinforce the bearish macro structure. Until the BTC.D reverses and prints a TBO Close Long, altcoins are unlikely to mount any meaningful recovery. Both the Top 10 and OTHERS Dominance are back at support levels, showing no signs of a reversal. The total crypto market cap chart is still in bearish consolidation inside the daily TBO Cloud, despite Monday’s bounce, and OTHERS remains strongly bearish as well. BVOL7D ticked slightly green yesterday and would likely spike if Bitcoin corrects.

Bitcoin's price has rebounded to $106,907, facing resistance at $108,000. Market fatigue and cooling transfer volumes signal potential downward pressure. Key resistance at $110,000 is noted as a significant level that may be difficult to breach. This resistance level is crucial for determining the market's next direction. After reclaiming the $108K level, Bitcoin now faces key resistance at $110K and then again near $112K—the threshold many consider the point of confirmation for a sustained upward trend.

Bitcoin is once again testing a critical resistance level after surging over 9% since Sunday, fueled by a shift in market sentiment and easing geopolitical tensions. Technical indicators suggest that Bitcoin is approaching a critical juncture, with a breakout above $35,000 potentially triggering a new upward trend. Support levels are crucial for determining the next move in the market. In the meantime, traders should focus on identifying key long-term support zones for potential entries if Bitcoin gets rejected. SUI’s support at 1.9626 is one example. Another option is to watch for Springboard Bounces on coins that have previously shown strong behavior near their TBO Fast lines, such as BCH. Until Bitcoin offers clarity with its reaction at resistance, a conservative “wait and see” approach is warranted.