Coinbase Report: Bitcoin Dips Below $106K as Ether Shows Resilience Amid Market Cooling

Bitcoin experienced a slight downturn, dropping to a nine-day low of $105,750 before recovering to $106,000, marking a 1.5% decline over the past 24 hours. Despite this pullback, BTC remains within 5% of its all-time high, indicating strong underlying market confidence. The broader crypto market displayed mixed performance, with the CoinDesk 20 index falling 0.9%. Notably, Solana and Avalanche underperformed, declining 1.8% and 2% respectively, while Ether demonstrated resilience. As of May 30, 2025, the market appears to be cooling, but the stability of major assets like Bitcoin and Ether suggests continued investor interest and potential for recovery.

Bitcoin Dips Below $106K as Crypto Markets Cool; Ether Shows Resilience

Bitcoin slid to a nine-day low of $105,750 before recovering slightly to $106,000, marking a 1.5% decline over the past 24 hours. Despite the pullback, BTC remains within 5% of its all-time high, suggesting underlying strength in the market.

The broader crypto market saw mixed performance, with the CoinDesk 20 index dropping 0.9%. Solana and Avalanche underperformed, falling 1.8% and 2% respectively, while Ether and XRP bucked the trend with 1%-2% gains.

Crypto-related stocks mirrored the subdued sentiment, with Coinbase dropping 2.7% and Bitcoin miners like Bitfarms and CleanSpark shedding roughly 4%. MicroStrategy proved an outlier, rising 0.8% as the company continues its aggressive BTC accumulation strategy.

Traditional markets added to the risk-off tone after a U.S. appeals court reinstated controversial tariffs, creating fresh uncertainty for investors. Market strategist Joel Kruger anticipates heightened volatility as the tariff situation develops alongside key July deadlines.

Bitcoin Institutional Demand Shows Resilience Despite Short-Term Slowdown

Bitcoin’s institutional liquidity flows tell a story of tempered momentum but enduring confidence. While retail demand softened in late May, blockchain data reveals whales are accumulating - addresses holding 1,000-10,000 BTC show net growth. This cohort’s activity often precedes major market moves.

Exchange metrics paint a compelling picture of hodler conviction. Short-term holders deposited just 8,000 BTC to exchanges recently, a fraction of the 80,000 BTC moved during March’s tariff panic. Even more striking: long-term holders relinquished merely 86 BTC versus January’s 254 BTC peak outflow. Such restraint suggests supply shock conditions are intensifying.

Not all signals are bullish. A 1,083 BTC whale transfer to Coinbase coincided with bitcoin dipping below $107,000, proving large players still dictate near-term volatility. Yet the broader narrative remains constructive - when institutions accumulate during retracements, it typically foreshadows renewed upside.