Particle.news

Download on the App Store

Bitcoin Holds Above $104K as Crypto Markets Enter Profit-Taking Phase

Traders lock in gains after a week-long rally, while institutional demand and whale accumulation signal continued support for the broader uptrend.

Image
Image
Bitcoin (BTC) price on May 15 (CoinDesk)
Image

Overview

  • Bitcoin remains above the $104,000 mark, facing resistance near $105,000, as traders take profits following a week-long rally.
  • Major altcoins, including Ethereum, Solana, and Dogecoin, saw steeper declines of 3–6% compared to Bitcoin's modest pullback.
  • Institutional interest remains strong, with spot Bitcoin ETFs receiving $319.6 million in inflows and mid-sized whales accumulating over 83,000 BTC in the past month.
  • The Crypto Fear & Greed Index has entered 'Greed' territory, reflecting heightened investor exuberance but raising caution about potential overextension.
  • Analysts describe the pullback as a healthy correction within a broader uptrend, with Bitcoin's psychological $100,000 level acting as key support.