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Bitcoin and several major altcoins are trying to start a recovery, but they are likely to be met with significant selling pressure at higher levels.

Bitcoin showed no sign of a major rebound after the release of major US inflation data, with bid liquidity clustered at $108,200.

Ether price weakness over the past two weeks has resulted in the relative strength index flashing a potential bottom signal not seen since early April.

Crypto sentiment gauge, the Crypto Fear & Greed Index, collapsed below 30/100 for the first time since mid-April, with Bitcoin trading $25,000 higher.

Bitcoin dropped to under $109,000 as long-term holders realized 3.4 million Bitcoin profits and ETF inflows slowed, signalling potential cycle exhaustion.

SOL price fell to $192 on Thursday, but an upcoming ETF decision may kickstart institutional investor demand and reset Solana’s price momentum.

Bitcoin fell to a three-week low under $109,000, but the $22 billion end-of-month options expiry could lead to a much-needed BTC price bounce.

Bitcoin price tumbled toward new lows below $109,000 and while charts suggested the sell-off is far from over, data shows spot buyers accelerating their accumulation.