Price Pressure Across All Cryptocurrencies: Technical Limits in Bitcoin's Consolidation

All cryptocurrencies face mixed signals this week. Bitcoin, after reaching around $76,000 in the short term, has started to decline, while other crypto assets are also moving under similar pressure. Ethereum has lost 1.5%, Solana 2.5%, and Sui 4.5%, with a general downward trend observed across the market.

Bitcoin’s Relative Strength Index (RSI) remains firmly in overbought territory after its recent 15% rally. This technical indicator suggests that a deeper pullback toward the $72,000 level could continue. However, analysts note that this movement should be viewed as a period of consolidation in negotiations. The range between $72,000 and $74,000 may indicate the formation of new support levels, which could serve as a foundation for a potential rise above $80,000.

Technical Indicators Signal Potential Downtrend: RSI Status of All Cryptos

Overall, Bitcoin, the largest crypto asset, fell below $73,500 on Tuesday evening, with open interest reaching new levels. Bitcoin futures open positions increased by 2% to 685.2K BTC, the highest in three weeks, indicating strong bullish bets when combined with positive cumulative volume delta (CVD).

Ethereum futures also show a similar upward trend. However, Solana presents mixed market signals: rising open interest, negative funding rates, and near-zero CVD suggest a bearish trend. Cardano and Bch show slight declines in open interest, indicating shifts in capital flows.

Mixed Signals in Derivative Markets: Deribit Options Activity Shows Bearish Sentiment

Options markets display different dynamics across all cryptos. On Deribit, a clearer bearish trend for Bitcoin is emerging: short-term Bitcoin put options nearing expiration are trading at higher premiums compared to call options on Ethereum.

Volatility strategies, especially straddle positions, dominate Bitcoin’s block flow, while Ethereum traders prefer call spreads and straddle combinations. The most popular options for Bitcoin are the $60,000 put and the $75,000 call. As prices approach $75,000, volatility spiked significantly on Tuesday.

Volatility in the Altcoin Market: Meme Coin Movements Reflect Overall Risk Appetite

Meme coins and small tokens have been the main downward factors in the market. After a strong rally on Monday, the altcoin market experienced deeper pullbacks since midnight, with some segments losing over 5%.

CoinMarketCap’s altcoin season indicator remains at 49/100, the highest point since the start of the year. This suggests that risk appetite is still alive but with a focus on selective assets. The meme coin themed around Trump has gained 1.64% in the past 24 hours. PEPE, which led the upward movement on Monday, has also seen similar downward pressure.

CoinDesk’s Meme Coin Index lost about 1% in the last 24 hours, marking the weakest performance among benchmarks. Meanwhile, the CoinDesk 80 index, comprising a broad range of altcoins, gained 1.35%. This divergence indicates ongoing selective risk management across all cryptos.

Geopolitical factors also influence market dynamics. After US President Donald Trump announced a five-day pause in actions against Iran’s energy infrastructure, Bitcoin rose above $70,000, maintaining most of its gains. Altcoins including Ethereum, Solana, and Dogecoin increased by around 5%, while crypto-related mining stocks moved in parallel with the broader stock markets, with the S&P 500 and Nasdaq each rising about 1.2%.

Looking ahead, analysts say Bitcoin’s movement depends on the stability of oil prices and maritime transportation through the Strait of Hormuz. These factors could support a retest of the $74,000–$76,000 range or, in case of deterioration, pull prices back to the mid-$60,000 levels.