Bitcoin’s Valuation

Bitcoin (BTC) is eyeing a return to the $2 trillion valuation, facing resistance at the $100,000 price level. Recently, it increased from $93,000 to $97,000, attempting to reclaim $100K. With a market dominance above 60%, BTC leads and outperforms altcoins.

According to CoinMarketCap, Bitcoin’s nearest resistance is at $97,516, aligning with the 20-day Exponential Moving Average (EMA). Despite the push above resistance, buying volume is insufficient to elevate BTC past $100,000. The digital asset has remained flat since reaching its all-time high over a month ago.

Analyst Ali Martinez noted on X (formerly Twitter) that the TD Sequential indicator has flashed a sell signal on the 4-hour chart, indicating potential bearish pressure. Investors might see Bitcoin slip to around $93,000 shortly.

> #Bitcoin $BTC may be setting up for a pullback, as the TD Sequential indicator flashes a sell signal on the 4-hour chart following the recent rebound! pic.twitter.com/HCCDb4uFNh
> — Ali (@ali_charts) February 20, 2025

Related: XRP Whales Continue Accumulation Spree, 20 Million More Added

Altcoins on the Move: SOL and SUI

SUI and SOL Turn Bullish

Conversely, SOL is showing bullish trends, trading at $172.03 with a 3% daily increase. It is retesting the lower band of the Bollinger Bands at $167.85. If support holds, it could target $200, testing resistance at $219.

SUI has surged 7% in the past 24 hours, priced at $3.35, following Grayscale’s announcement of the Grayscale Sui Trust aimed at providing exposure to the altcoin.

Related: Altcoin Season MIA? Raoul Pal Reveals Crypto Portfolio, Puts Sui Ahead of Solana

Currently, the Relative Strength Index (RSI) for SUI is 43.84, indicating neutral to bearish momentum, but the upward trend suggests increased buying volume.

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