The prices of some major crypto have dropped on the board today. (BTC), Ethereum (ETH), Solana (SOL), and some other coins are all down.
The total crypto market is sitting at $3.31 trillion right now. However, it has not been the best 24 hours for crypto investors. Volume remains low by 5% as this shows a lack of conviction from both buyers and sellers.
Much of the hesitation in the market is coming from Bitcoin’s inability to break out or break down, as traders wait for the next big move. The ongoing tension between Donald Trump and Elon Musk is making some crypto investors nervous. Their public argument over a proposed “One Big Beautiful Bill” caused Bitcoin to drop by nearly 3%, bringing it close to the $100,000 level. That move also wiped out over $300 million in long positions, showing how quickly markets can react to political drama.
This fallout is also showing up in sentiment data. The Crypto Fear & Greed Index recently slipped into the “fear” zone, meaning traders are becoming more cautious. When two of the most influential voices in politics and tech clash like this, it can easily shake investor confidence and create short-term volatility in the crypto market. All in all, this Trump vs Elon tension on X could be one of the main reasons for the sluggish crypto market at the momment.
However, let’s have a look at some technicals and what are some traders saying on X.
What you'll learn 👉
Bitcoin Price Consolidates Inside a Symmetrical Triangle
According to The Crypto Express, BTC is trading inside a symmetrical triangle on the 12-hour chart. This pattern usually comes before a sharp move in either direction.
Bitcoin price is stuck between $101,500 and $104,000, with price tightening near the triangle’s apex.
Source: X/TheCryptoExpress
The 50-period moving average is sitting just below the price, offering soft support, but if BTC breaks below it, that could trigger more selling.
Crypto Seth shared a 4-hour chart pointing to a possible “liquidity sweep” setup. He highlighted the $103,000–$103,110 zone as a key area where long traders may get stopped out before a potential bounce.
Source: X/CryptoSeth
His tweet noted that market makers may dip price into this zone to collect liquidity before pushing higher. If BTC does bounce, the next resistance is between $109,500 and $110,000.
A clean break above that could send Bitcoin price back toward the previous high at $111,800. On the flip side, if support fails, BTC could revisit $101,000 or even the $99,500 area.
Crypto Market Cap Faces Key Resistance
The overall crypto market cap is also showing signs of weakness. After getting rejected near $3.47 trillion in late May, the market pulled back and broke below $3.31 trillion, a key support level that is now acting as resistance.
Right now, the $3.21 trillion zone is the level to watch. If that breaks, the next support is at $3.16 trillion.
Source: X/BeinCrypto
The daily chart shows smaller candles and lower volume, a sign of indecision. Without a clear breakout above $3.31 trillion, the market may continue chopping sideways or slide lower.
Crypto Market Sentiment Weakens
While Bitcoin price is holding just above $102,000, some altcoins are taking a harder hit. For example, $ETH has dropped over 7% today to $2,400, showing how quickly riskier assets can fall when momentum fades.
With altcoins showing relative weakness, it’s clear that many traders are shifting to a more cautious stance. Short-term sentiment remains neutral to slightly bearish, with both BTC and ETH near support zones.
Whether Bitcoin breaks above $106K or below $102K will likely set the tone for the rest of the market in the days ahead. Traders are watching these levels closely as the next major move begins to shape up.
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