Bitcoin consolidates near $107k levels; ETH struggles despite whale support

Market analysts suggest that Bitcoin's current consolidation near $107,000 reflects short-term seller control

The crypto market is showing a mix of optimism and caution. The flagship currency, Bitcoin (BTC), briefly climbed to $108,915 amid strong institutional interest that boosted market sentiment. However, profit-taking at higher levels pulled the price back toward the $107,000 mark. Market analysts suggest that Bitcoin’s current consolidation reflects short-term seller control.

 

Bitcoin was quoted trading at around $107,231.21, up 0.56 per cent at 11:47 AM on Tuesday, June 17, with a 24-hour trading volume of $53.98 billion. Bitcoin's market capitalisation stood at $2.13 trillion, the highest among all cryptocurrencies.

 

The world’s most popular cryptocurrency has fluctuated in the range of $106,219.74–$108,915.38 in the last 24 hours, according to data from CoinMarketCap.

 

Institutional moves, technical outlook

Strategy’s $1.05 billion acquisition of 10,100 BTC and Metaplanet’s crypto reserves crossing the 10,000 BTC mark, Edul Patel, Co-founder and CEO of Mudrex, said, has helped fuel bullish momentum in the asset, despite geopolitical tensions. "At the current levels, Bitcoin faces major resistance at $110,300, while support stands at $105,800," said Patel.

 

Riya Sehgal, Research Analyst at Delta Exchange, on the other hand, believes that Bitcoin, after facing rejection near $110k, is consolidating between $106k–$108k, with lower highs and declining volume reflecting short-term seller control.

 

"Holding above $106k keeps the structure stable, but a break below could open the way to $104,000 and $101.5k. A move above $108k could reopen the path to $110k," said Sehgal.

Ethereum whales accumulate as price struggles

Meanwhile, Ethereum (ETH) whale accumulation jumped by over 818,000 ETH, marking the highest daily inflow in more than six years, supporting ETH above $2,500. That said, the analysts believe that ETH remains under pressure after failing to reclaim the $2,620–$2,640 range, with a clear lower high–lower low pattern.

 

At last check, Ethereum was trading at around $2,581.35, down 1.36 per cent, with a trading volume of $26 billion. Ethereum has traded in the range of $2,528.20–$2,680.09 in the last 24 hours.

 

If Ethereum slips below the $2,560 level, the next supports, Sehgal said, are $2,500 and $2,440. "However, a bounce from current levels could signal early strength." ETF flows on June 16 showed strong institutional appetite — BTC ETFs saw $408.6 million in net inflows and ETH ETFs $21.4 million.

Altcoins trade mixed

Among other popular cryptocurrencies, Hyperliquid (HYPE) was trading lower by 4.46 per cent, Solana (SOL) was down 2.10 per cent, and Cardano (ADA) down by 1.72 per cent. On the other hand, Ripple (XRP) was trading higher by 2.68 per cent, and Binance Coin (BNB) gained 0.53 per cent.