ETH, SOL, DOGE slide as Bitcoin fails to break $73,000 for the third time since the ceasefire
Why it matters: Bitcoin's inability to break $73,000 prevents a confirmed bullish phase, keeping major tokens like ETH and SOL range-bound.
- Bitcoin has been rejected at the $73,000 level three times since the ceasefire, now trading in a tighter range between $70,000 and $73,000.
- Analysts like Alex Kuptsikevich (FxPro) and Mike Novogratz (Galaxy Digital) concur that Bitcoin needs to surpass $75,000, and potentially consolidate above $74,000 before breaking $80,000, to signal a true bullish market.
- ETH held at $2,189 (up 6.6% weekly), SOL gained 5.1% to $83.09, and DOGE climbed 2.4% to $0.092, with the entire top 10 cryptocurrencies showing weekly gains for the first time in over a month.
- Geopolitical tensions persist as Iran accuses the U.S. of breaching ceasefire clauses and the Strait of Hormuz remains only partially reopened, contributing to market caution and volatile oil prices, which rebounded above $97.
Bitcoin has repeatedly failed to break the $73,000 resistance level for the third time since the Iran ceasefire, despite posting its strongest weekly gain of the conflict, leading to a slide in ETH, SOL, and DOGE. Analysts like FxPro's Alex Kuptsikevich and Galaxy Digital's Mike Novogratz agree that higher thresholds, specifically $75,000 or even $80,000, must be cleared to confirm a genuine bullish phase, as geopolitical tensions over the fragile ceasefire continue to keep markets cautious.
