Bitcoin Eyes $105,800 Resistance as SUI and Wormhole Signal Fresh Bullish Opportunities Amid Market Recovery

Bitcoin (BTC) has rebounded significantly from recent lows, now approaching the key resistance level of $105,800. This resurgence follows a sharp sell-off triggered by adverse market sentiment, including public disputes among major personalities and macroeconomic shifts such as the European Central Bank’s interest rate cut. Market dominance for BTC stands at 61.5% with a total capitalization of $2.08 trillion. Noted analyst Michaël van de Poppe emphasizes that a successful break above $105,800 could catalyze a fresh rally, while technical analysis indicates momentum is gathering. Altcoins are also showing renewed strength. The Sui (SUI) network demonstrated resilience by recovering from a significant security incident involving the Cetus Protocol, with its total value locked (TVL) rebounding by 20% to $1.8 billion. SUI is trading near $3.18, reflecting increased investor confidence. Wormhole (W) is displaying bullish divergence in weekly indicators, even as the price dipped 2.8% to $0.07355, raising expectations for mid-term upside, especially as cross-chain integrations progress. Overall, crypto markets have added more than $50 billion, pushing total capitalization beyond $3.38 trillion. Market participants are closely monitoring technical levels for BTC, as well as developments and ecosystem strength in SUI and Wormhole. These evolving dynamics present timely opportunities and risks for traders across the market.