{"id":2188,"date":"2025-06-05T16:37:48","date_gmt":"2025-06-05T16:37:48","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-and-altcoins-are-crashing-as-investors-are-locking-profits\/"},"modified":"2025-06-05T16:37:49","modified_gmt":"2025-06-05T16:37:49","slug":"bitcoin-and-altcoins-are-crashing-as-investors-are-locking-profits","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-and-altcoins-are-crashing-as-investors-are-locking-profits\/","title":{"rendered":"Bitcoin and altcoins are crashing as investors \u2018are locking profits\u2019"},"content":{"rendered":"
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Bitcoin and other altcoins continued their downward trend on Thursday as the recent bullish momentum faded.<\/p>\n

Bitcoin (BTC) dropped briefly below $104,000 as the market capitalization of all coins fell by 1% to $3.27 trillion. Some of the top laggards were altcoins like Fartcoin (FARTCOIN), Dogwifhat (WIF), Jupiter (JUP), and Ethena (ENA).<\/p>\n

Analysts suggest the ongoing pullback is a typical occurrence during bull markets, as some investors begin locking in profits. In a statement to crypto.news, Ryan Lee, Chief Analyst at Bitget Research, said:<\/p>\n

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\u201cAfter a period of notable gains, many investors are locking in profits, which has triggered short-term sell-offs. This behavior is not unusual in bull cycles, where sharp rallies often lead to a wave of corrections as traders seek to de-risk their portfolios.\u201d<\/p>\n<\/blockquote>\n

Ryan added that the ongoing geopolitical developments like trade tensions from the US had contributed to market uncertainty and triggered a risk-off sentiment. He added that:<\/p>\n

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\u201cWhile the overall outlook for digital assets remains positive, current price action suggests a cooling period, especially in speculative altcoins that saw outsized gains. Investor sentiment is being recalibrated in response to these developments.\u201d<\/p>\n<\/blockquote>\n

Historically, Bitcoin tends to pull back after reaching a key resistance level, often triggering a broader correction across altcoins. For example, BTC hit a record high of $108,335 in December before retreating to $88,987 in January. It later surged to a new all-time high of $109,300 in the same month.<\/p>\n

Bitcoin price chart analysis points to an eventual rebound<\/h2>\n
<\/source><\/p>\n<\/picture>
BTC price chart | Source: crypto.news<\/figcaption><\/figure>\n

Technical indicators suggest that Bitcoin may be preparing for another rally, which could spark a broader altcoin rebound. On the daily chart, BTC is gradually forming a bullish flag pattern \u2014 characterized by a steep vertical rally (the flagpole) followed by a downward-sloping consolidation channel (the flag). This setup is typically viewed as a continuation pattern.<\/p>\n

Bitcoin has also formed a cup-and-handle pattern, with the recent pullback forming the handle section. The cup features a depth of approximately 30%, or 34,000 points.<\/p>\n

Using standard technical analysis, the target for a cup-and-handle breakout is calculated by adding the cup\u2019s depth to its upper boundary. In this case, adding $38,000 to the top of the pattern yields a projected target of $146,000.<\/p>\n

<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and other altcoins continued their downward trend on Thursday as the recent bullish momentum faded. Bitcoin (BTC) dropped briefly below $104,000 as the market capitalization of all coins fell…<\/p>\n","protected":false},"author":1,"featured_media":345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=2188"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2188\/revisions"}],"predecessor-version":[{"id":2189,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2188\/revisions\/2189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/345"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=2188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=2188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=2188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}