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Following short-term profit realizations, Bitcoin 
$107,644 and other major cryptocurrencies experienced a notable decline. The market observed an overall drop of approximately 3.3% within 24 hours. The leading cryptocurrency, Bitcoin, pulled back from its previous highs, and similar losses were seen in popular altcoins like Ether and Cardano 
$0.746694. However, positive weekly trends indicate that traders are making strategic moves despite these short-term corrections.
Where Are Bitcoin and Ether Heading Technically?
Bitcoin continues to hold above its 50-day moving average. Analysts state that maintaining this level keeps market confidence alive, but a consolidation above the 200-day moving average is necessary for a lasting trend reversal. According to FxPro senior analyst Alex Kuptsikevich, this level serves as a critical indicator for Bitcoin’s long-term direction.
A similar technical outlook is observed for Ether. Although price movements attract short-term traders, sudden fluctuations compel Ether investors to adopt a cautious approach. The uncertainty in technical indicators prompts investors to focus on support and resistance levels rather than taking large positions.
Whales Active as Volatility Rises in Altcoins
Despite recent challenging market conditions, Solana 
$172 maintains a position near its 50-day average. This situation is interpreted by investors as a recovery signal. The failure of established support levels to break could pave the way for Solana’s upward movement.
In the Dogecoin 
$0.219581 arena, active whale participation is noted. The accumulation of nearly 800 million DOGE in a short time has heightened investors’ short-term bullish expectations. However, the impact of this activity on prices will become clearer in the coming days.
Cardano has entered a technical correction phase following sharp fluctuations. The price’s initial peak followed by a significant pullback indicates that the market remains under pressure. Technical analyses suggest that a short-term downward trend may continue across altcoins.
Cautious Insights from Experts: It’s Too Early for New Peaks
Technical indicators have not yet definitively confirmed Bitcoin’s potential to reach new peaks. Renowned trader Peter Brandt emphasized that “a trend line violation does not solely indicate a trend reversal,” urging investors to avoid excessive optimism.
Trend lines and Fibonacci retracement levels play significant roles in determining direction in the cryptocurrency market. However, these indicators must be assessed alongside macroeconomic and geopolitical developments. Recent increases in global economic uncertainty and decreased risk appetite are among the factors driving volatility in the cryptocurrency market.
