The post Bitcoin Price Prediction As Crypto Fear and Greed Index Hits 69 appeared first on Coinpedia Fintech News
The cryptocurrency market is seeing a slight dip today, with Bitcoin hovering around $103,922. According to on-chain analytics firm Santiment, Bitcoin recently faced strong resistance between the $104K and $105K levels. Whenever fear starts building up like this, people usually expect prices to drop — but interestingly, markets often do the opposite and bounce back. So, this could actually be a sign that another price push might be coming soon.
At the same time, the Crypto Fear and Greed Index is sitting at 69, which means there’s a lot of greed in the market right now. While that kind of excitement can fuel rallies, it also means prices might be getting a bit too hot. It’s one of those moments where it’s smart to stay hopeful but cautious.
Bitcoin is currently struggling to break past the $105,000 resistance level. If the conditions worsen, Bitcoin could further fall towards $100,000, delaying further gains. On the other hand, if it manages to breach the $105,000, it could set the stage for a rally towards $110,000, lifting the entire market and pushing for new all-time highs.
However, analysts say the market is staying strong, even though spot Bitcoin ETF inflows have fallen from $3 billion in late April to $228 million this week.
XRP Slips While Ethereum Holds Strong
As for altcoins, XRP led the losses, down over 3% in the past day. Ethereum is holding steady above $2,500, showing bullish signs. Other altcoins like Binance Coin, Solana, Cardano, and Doge stayed relatively neutral. Tether (USDT) also stayed steady at $1.
Analyst Michaël van de Poppe said that small corrections are happening in altcoins, but with gold showing a downtrend, he expects more gains soon.
Unlike previous rallies driven by massive central bank money injections, analysts believe that this crypto rally is supported by a quiet boost from private bank credit growth in the US and Europe. This slow and steady support is helping push Bitcoin higher. It could continue rising due to a weaker USD, however, it could face challenges after July.