Bitcoin Price Today: BTC Slips Below $105K Before Partial Recovery; Crypto Markets Show Mixed Trends
On May 30, Bitcoin — the world’s largest cryptocurrency — briefly dropped below the psychologically significant $105,000 mark before recovering slightly, according to data from CoinMarketCap.
At the time of writing, Bitcoin was trading at $105,795.12, reflecting a 1.90% decline over the past 24 hours. This places the token well below its recent high of $110,000, recorded last week. Bitcoin’s market capitalization also dropped by 1.92% to $2.1 trillion. Meanwhile, trading volume surged by 16.28% to $58.84 billion, indicating increased sell-offs.
Crypto Market Movers: Top Gainers and Losers
Ethereum (ETH), the second-largest cryptocurrency, was priced at $2,621.35 — down 3.94% from the previous day. Its market cap fell 3.90% to $316.46 billion, although the token managed to stay above the critical $2,600 support level.
According to CoinDCX Research, the top-performing tokens included:
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DeXe, which jumped over 14%
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SPX6900, up by more than 3%
On the losing side:
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Uniswap plunged 14%
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Optimism dropped 13.33%
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Arbitrum and Pudgy Penguins both declined by 13%
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Pepe and Pyth Network fell over 11% each
Market Sentiment: Bulls on the Sidelines Amid Broader Uncertainty
CoinDCX analysts noted that the broader crypto market continues to struggle as bullish sentiment remains muted. Several prominent tokens — including XRP, Solana, Cardano, and Shiba Inu — also saw downward pressure. More than $345 million in crypto assets were liquidated within just a few hours amid the ongoing decline.
Riya Sehgal, Research Analyst at Delta Exchange, highlighted the heightened volatility, saying, “The overall crypto market cap has fallen 2.43% to $3.35 trillion, while 24-hour trading volume rose to $184.7 billion, driven by $725 million in liquidations.”
She attributed this to continued macroeconomic uncertainty, citing stalled US–China trade talks and a U.S. court ruling that blocks certain tariffs. “Bitcoin recently touched a 9-day low of around $104,725, trading below its 50-day and 200-day simple moving averages — signaling short-term bearish momentum unless key resistance levels are reclaimed,” she added. Ethereum, Cardano, Dogecoin, and other altcoins also posted losses.
Institutional Activity and Outlook
Edul Patel, Co-founder and CEO of Mudrex, observed, “Bitcoin is consolidating as investors remain cautious due to geopolitical tensions and fears of a renewed U.S.–China trade war. Additionally, economic indicators like higher-than-expected U.S. jobless claims and a 0.2% GDP contraction in Q1 2025 are weighing on market sentiment.”
Despite the bearish tone, institutional demand remains strong. Sehgal pointed to a record $6.22 billion inflow into the iShares Bitcoin Trust ETF in May as a sign of robust investor confidence.
Patel agreed, noting that “$432 million flowed into spot Bitcoin ETFs recently, which has helped support Bitcoin’s price. For continued momentum, BTC must reclaim the $108,000 level. If buying interest doesn’t pick up, the price may retest the $103,700 support zone.”
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