The cryptocurrency market is seeing a slight dip today, with Bitcoin hovering around $103,922.

Whenever fear starts building up like this, people usually expect prices to drop — but interestingly, markets often do the opposite and bounce back.

Cryptocurrency prices are displaying a slight downturn today, with Bitcoin (BTC / USD) experiencing a minor slip and now trading around the $103,922 mark.

According to on-chain analytics firm Santiment, Bitcoin recently encountered strong resistance at the $104K to $105K level.

This brought some fear into the market, as whenever traders begin to feel apprehensive, they usually anticipate a decline in prices. However, it’s worth noting that markets often react opposite to popular opinion and tends to bounce back.

With this in mind, this could be a sign that another price push might be coming soon. At the same time, the Crypto Fear and Greed Index is sitting at 69, which means there’s a lot of greed in the market right now.

That kind of excitement can certainly help fuel rallies, but it also means prices might be getting a bit too hot. It’s one of those moments where it’s smart to stay hopeful but cautious.

“Bitcoin saw some good resistance get hit the past week, as it was challenged to want to pump past the $104K to $105K level. This temporary “pumping of the brakes” has been enough to swing traders get slightly bearish once again. Markets generally tend to move opposite to crowd's expectations,…”

Bitcoin is currently struggling to break past the $105,000 resistance level. If the conditions worsen, Bitcoin could further fall towards $100,000, delaying further gains. On the other hand, if it manages to breach the $105,000 mark, it could set the stage for a rally towards $110,000, lifting the entire market and pushing for new all-time highs.

However, analysts say the market is staying strong, even though spot Bitcoin ETF inflows have fallen from $3 billion in late April to $228 million this week.

XRP Slips While Ethereum Holds Strong

Among altcoins, XRP led the losses, slipping more than 3% over the past day. Ethereum (ETH / USD) is still holding above the $2,500 level, showing signs of bullish strength.

Other top altcoins, including Binance Coin (BNB / USD), Solana (SOL / USD), Cardano (ADA / USD), and Dogecoin (DOGE / USD), showed relatively neutral trading behavior during the past 24 hours, displaying a slight divergence from Bitcoin. Tether (USDT / USD) also remained stable.

Analyst Michaël van de Poppe said small corrections are to be expected in altcoins, and with gold showing a downtrend, he expects to see more gains in crypto soon.

Unlike previous rallies fueled by massive central bank money injections, analysts believe this crypto rally is being aided by a quiet boost from private bank credit growth in the U.S. and Europe.

This slow and steady support is helping push Bitcoin higher. It could continue rising due to a weaker USD, however, it could face challenges after July.