Bitcoin Faces Profit-Taking Amid Dollar Resurgence, Yet Investor Optimism Persists
The cryptocurrency market experienced a slight dip of 1.7% over the past 24 hours, bringing the total market cap to $3.29 trillion. This decline occurred despite strong performance in equity markets, highlighting the unique pressures facing digital assets. A key factor was the resurgent U.S. dollar, which gained strength following recent tariff announcements. Bitcoin, in particular, saw profit-taking near its record highs, leading to volatile price action. However, the greed sentiment index remained steady at 70 for four consecutive days, indicating that investor optimism in the crypto market remains robust. This suggests that while short-term fluctuations may occur, the long-term bullish outlook for Bitcoin and other cryptocurrencies is still intact.
Crypto Market Sees Profit-Taking Amid Dollar Strength, Bitcoin Volatility
The cryptocurrency market cap dipped 1.7% to $3.29 trillion over the past 24 hours, defying buoyant equity markets. A resurgent dollar, fueled by tariff announcements, pressured digital assets—particularly Bitcoin, which faced profit-taking near record highs. The greed sentiment index held firm at 70 for four consecutive days, underscoring persistent investor optimism.
Bitcoin's erratic price action saw a swift drop to $100.5K before rebounding to $102.7K, demonstrating the market's appetite to buy dips. All eyes now turn to the $105K resistance level, where a breakout could accelerate momentum. This volatility contrasts with traditional markets' steady climb, highlighting crypto's unique risk-reward dynamics.
Bitcoin Faces Key Resistance After 10% Weekly Rally
Bitcoin surged 10% this week, breaching the $100,000 mark for the first time since February and reaching a three-month high of $105,500. The rally has reignited bullish sentiment, with investors eyeing a potential push toward new all-time highs.
Analyst Rekt Capital notes BTC has now reclaimed its entire re-accumulation range, completing both a downside deviation and initial price discovery correction. The cryptocurrency currently faces rejection at the $104,500 resistance level—a critical threshold that will determine whether the uptrend continues or consolidates.
Crypto Markets Rally on US-China Trade Deal and Hayes' Bullish Call
Digital assets surged across the board as geopolitical tensions eased and industry heavyweight Arthur Hayes issued a emphatic buy signal. Bitcoin led the charge, with the broader crypto market capitalization gaining momentum in sync with traditional equity markets.
The catalyst came as Washington and Beijing announced reciprocal tariff reductions, slashing duties on $100 billion worth of goods. Market participants interpreted the trade détente as removing a major macroeconomic overhang for risk assets.
Hayes' declaration to "buy everything" amplified the bullish sentiment, particularly in crypto derivatives markets where open interest spiked. The synchronized rally across BTC, ETH, and altcoins suggests renewed institutional interest in digital asset exposure.
Bitcoin's Quiet Ascent Gains Momentum as Institutional Interest Grows
Bitcoin's understated rally is gaining traction, with veteran Wall Street investor Jordi Visser highlighting its emergence as a macro hedge amid shifting interest rate dynamics. The cryptocurrency has seen 19 consecutive days of ETF inflows, while institutional allocations and national reserve strategies signal maturation. BTC's price recently touched 104092, reflecting its growing appeal.
Market observers note that traditional tariff discussions have obscured a deeper financial realignment—one that favors hard assets like Bitcoin. The cryptocurrency's resilience and institutional adoption are rewriting the playbook for long-term asset pricing.
Bitcoin ETFs See Sluggish $5 Million Inflows Despite Market Rally
Bitcoin ETF inflows stalled at just $5.2 million on Monday, marking the lowest single-day total since mid-April. The muted institutional demand came despite BTC briefly topping $105,000 during intraday trading before settling at $102,729.
Profit-taking activity appears to have dampened enthusiasm for spot Bitcoin ETFs after the cryptocurrency failed to hold above the psychologically important $105,000 level. BlackRock's IBIT emerged as the sole bright spot, recording the highest daily inflow among issuers.
Arizona Governor Vetoes Crypto Reserve Bills, Approves Anti-Fraud Regulation on Crypto ATMs
Arizona Governor Katie Hobbs has vetoed two key cryptocurrency-related bills, citing market volatility as a primary concern. Senate Bill 1373, which proposed creating a Digital Assets Strategic Reserve Fund for managing seized or appropriated digital currencies, was rejected. "Current volatility in cryptocurrency markets does not make a prudent fit for general fund dollars," Hobbs stated in her veto letter.
The governor also blocked Senate Bill 1025, the "Arizona Strategic bitcoin Reserve Act," that would have permitted state treasury and retirement funds to allocate up to 10% in Bitcoin and other digital assets. This decision reflects caution about exposing taxpayer-backed funds to crypto market risks.
Concurrently, Hobbs approved new anti-fraud regulations targeting cryptocurrency ATMs, signaling a balanced approach between innovation and consumer protection in Arizona's digital asset policy.
