The post Bitcoin Test Support As BNB, SOL, LINK, AAVE Prep For Higher appeared on BitcoinEthereumNews.com.

Key point: Bitcoin’s bounce off the moving averages may improve sentiment, pushing BNB, SOL, LINK and AAVE above their overhead resistance levels. Bitcoin’s (BTC) failure to close above $110,000 may have attracted profit-booking by short-term traders. That has pulled the price near $108,000. Crypto analyst Daan Crypto Trades said in a post on X that a close above $110,000 would be good for Bitcoin, but a drop below $108,000 could deepen the correction. Some analysts are betting that US President Donald Trump’s “Big Beautiful Bill” will act as a catalyst to push the price above the all-time high. Prediction service Kalshi expects the US national debt to reach $40 trillion in 2025, a massive increase from $23.2 trillion in 2020. History shows that US borrowing increases have boosted Bitcoin’s price. For example, Bitcoin price soared by roughly 38% after Trump signed a COVID-19 spending bill in late 2020.  Crypto market data daily view. Source: Coin360 Although most analysts are bullish on the continuation of the bull market, crypto analyst Rekt Capital cautioned in a recent video that the bull market may only run for two or three more months if Bitcoin follows the 2020 pattern.  Could Bitcoin bounce off the support, pulling select altcoins higher? Let’s analyze the charts of the top five cryptocurrencies that look strong on the charts. Bitcoin price prediction Buyers tried to push Bitcoin above the $110,500 resistance on Thursday, but the bears held their ground. BTC/USDT daily chart. Source: Cointelegraph/TradingView Sellers have pulled the price back below the downtrend line, which is a negative sign. Buyers are expected to fiercely defend the moving averages because if they fail in their endeavor, the BTC/USDT pair could slump to $105,000 and later to psychological support at $100,000. Instead, if the price rebounds sharply from the moving averages,…

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Filed under: News - @ July 5, 2025 2:27 pm