Bitcoin Price Prediction As Crypto Fear and Greed Index Hits 69

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.