Bitcoin (BTC) is facing repeated selling resistance around the $110,500 (approximately 151.45 million won) level, testing its upward momentum. However, it is not easily pushed below the major moving averages, which is interpreted as a positive signal that buying forces are still maintaining their positions and actively supporting the market.
Market experts are noting that the Bollinger Bands, a volatility indicator in the current market, are rapidly narrowing. This is typically a signal suggesting a significant directional movement is imminent. John Bollinger, who developed the Bollinger Bands, added tension by mentioning on X (formerly Twitter) that Bitcoin may be "preparing for an upward breakout".
Meanwhile, XRP continues to attempt to break through the short-term resistance line. Market-wide expectations for volatility expansion are growing, and attention is focused on how price movements centered around Bitcoin will impact altcoins in general.
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