Bitcoin holds steady near $106K after retesting $99K support zone over weekend

Bitcoin has bounced back to $106,00 level on Monday after retesting the support level at $99,000 over the weekend. The cryptocurrency trades at $106,030 on Monday

At 9:52 AM IST, Bitcoin was up 3.84% in the past 24 hours. Ethereum went up by 6.90% to $3,618, while major altcoins such as XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid surged over 8%. The global cryptocurrency market capitalisation surged 4.82% to $3.58 trillion, according to CoinMarketCap.

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Edul Patel, CEO of Mudrex, mentioned that over the weekend, Bitcoin retested the support at $99,000 zone and bounced back to the current $106,000 and a sustained move above this level could confirm that bulls are in control, opening doors for further upside.

Additionally, the resolution of the U.S. government shutdown has also improved market sentiment and the last time the US ended its government shutdown, BTC went on a 5-month rally, gaining close to 300% in value, Patel said.

He further expects a similar trend, considering the improving liquidity conditions and shifting global risk sentiment, and BTC’s immediate resistance stands at $106,800 while support remains at the $100,000 zone.

In the past week, Bitcoin edged down by 1.80% whereas Ethereum went down 3.49% in the same period. In the same time period, altcoins such as BNB, Solana, Tron went down over 6% whereas XRP, Dogecoin, Cardano, and Hyperliquid went up over 5%.

Sathvik Vishwanath, Co-Founder & CEO, Unocoin, says that Bitcoin is stabilising near $106,000 after heavy volatility that tested the $101K support and the drop was driven by profit-taking and cascading liquidations as traders exited leveraged longs.

“Despite short-term weakness, the structure remains intact above $100K, suggesting a cooling phase rather than a trend reversal. Momentum indicators hint at seller exhaustion, while on-chain data shows strong wallet accumulation in the $95K–$100K range. A break above $110K could restore bullish confidence, targeting $118K next. However, losing $100K may invite a deeper retest near $92K. The market currently reflects cautious optimism and technical repositioning after recent overextension,” Vishwanath further said.

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Market perspective

CoinSwitch Markets Desk: The crypto market posted a modest rebound as Bitcoin climbed back above the ~$105k level, helped by signs of easing U.S. liquidity stress such as a narrowing SOFR-EFFR spread. That said, the mood remains cautious. Key support is forming near $100K, with immediate resistance around $108K–$110K, suggesting a consolidation phase. Until fresh inflows or policy clarity emerge, a sideways trading pattern appears likely.