Bitcoin and Altcoin Buyers Capitalize on Market Dip Amid Global Tensions
By Rakesh Upadhyay – June 13, 2025
In a notable display of confidence, traders in the cryptocurrency market have stepped up to buy the dip this week, as Bitcoin (BTC) and a selection of altcoins experienced notable corrections in their prices. The price fluctuations come against a backdrop of rising uncertainty in global markets, particularly following Israel’s recent airstrikes on Iran, which led to a brief decline in Bitcoin below the $103,000 mark. However, the swift response from buyers has pushed Bitcoin’s price back towards $106,000. ### Market Observations
According to trading resource Material Indicators, Bitcoin’s price shows resilience, indicating that a significant fall below current support levels is unlikely. Yet, they caution that sustained upside movement might be limited until after the next meeting of the Federal Reserve. Andre Dragosch, head of research at ETC Group, also shares an optimistic perspective, noting that Bitcoin has historically rebounded and surpassed its pre-event price levels within 50 days following a downturn.
Conversely, renowned market analyst John Bollinger has expressed apprehension about the current trend. He indicates that Bitcoin has formed a "W-shaped" double bottom near $75,000 and suggests that the completion of three pushes to new highs may signal the end of the previous uptrend, hinting at a forthcoming price consolidation or reversal.
Bitcoin Price Analysis
As the weekend approached, Bitcoin experienced a dip to its 50-day simple moving average (SMA) at around $103,159. Traders have been actively trying to defend this level in hopes of stabilizing the price. The cryptocurrency must maintain a close above $100,000 to avoid a further decline, which could potentially drop to $92,000 if that level fails to hold. On the higher side, a significant break above the all-time high of $111,980 would signify a renewed uptrend, with targets set around $130,000. ### Altcoins in Focus
Ethereum (ETH)
Ethereum faced a rejection at $2,879 on Wednesday, slipping under the 20-day exponential moving average (EMA) of $2,580. Currently, the position of the RSI suggests a balance between buying and selling pressure. Traders are watching the critical support level at $2,323. A rise beyond $2,879 could lead ETH towards $3,153, while a fall below $2,323 might see it decline to $2,111. #### XRP (XRP)
XRP’s price briefly broke above the moving averages, but failed to maintain momentum, falling back toward the solid support zone at $2. A break below this level could lead to a drop to $1.61. However, a resurgence above the moving averages could prolong the existing price range.
Binance Coin (BNB)
Currently consolidating between $634 and $693, BNB’s flattish moving averages indicate indecision in the market. If prices rise above $634, BNB could remain in a tight range for the time being. Conversely, losing support at $634 might trigger a sell-off towards $600. #### Solana (SOL)
After peaking at $168, Solana has seen a downturn below its moving averages, testing support at $140. Buyers must defend this level, or a failure to do so may push SOL down to $123 and eventually $110. #### Dogecoin (DOGE)
Dogecoin is currently caught in the lower half of its trading range between $0.26 and $0.14. A drop below $0.16 could see it decline to $0.14, a key support level where buyers are likely to re-enter.
Cardano (ADA)
Cardano has encountered strong selling pressure, turning down from the 50-day SMA at $0.72. If it breaks below $0.60, a drop to $0.50 is anticipated, although buyers are expected to defend this level vigorously.
Hyperliquid (HYPE) and Sui (SUI)
Hyperliquid recently experienced a peak above $42.25, but a lack of follow-through indicates profit-taking may be occurring. Meanwhile, Sui has critical support at $2.86; a failure to maintain this level could lead to further declines.
In the wake of these movements, traders remain engaged as they assess potential buy opportunities amid fluctuating market conditions shaped by geopolitical tensions and technical market indicators.
As always, potential investors are reminded to conduct thorough research and consider risks associated with investing in cryptocurrencies.
This article does not comprise investment advice. Every trading move involves risk, and readers are encouraged to do their research before making financial decisions.