Bitcoin Bobbing at $105K While XRP and Solana Show Quiet Strength

It was another “wait‑and‑see” day in crypto, with Bitcoin (BTC) bobbing around $104,900 and traders skittish ahead of fresh Fed commentary. A handful of tokens quietly inched higher, but for the most part, volume stayed light as market participants weighed geopolitical flare‑ups against regulatory milestones.

Geopolitics Still in the Driver’s Seat

Fresh exchanges of fire between Israel and Iran pushed oil prices higher today—just the kind of headline that tends to put risk assets on edge. With Jerome Powell due to speak later this week, many traders preferred to sit tight rather than wade into new positions.

Bitcoin’s Familiar Range

The price of BTC spent most of Wednesday trading between roughly $104,300 and $105,500, dipping near the lower bound before catching a bid and reclaiming five‑figure territory. A sustained push above $106,000 would be the clearest sign that buyers are back; conversely, a slide beneath $104,000 could see a swift test of the $103,000s. Despite the range‑bound action, on‑chain data show steady demand from spot‑ETF flows.

Altcoins: Quiet Strength

The Ethereum price matched Bitcoin’s modest gains, trading around $2,535 after a 24‑hour rally. XRP led the majors, up nearly 3% on renewed optimism around the SEC vs. Ripple lawsuit. Solana also outperformed, gaining close to 3% as developer activity ticked higher ahead of anticipated layer‑2 rollouts.

Outside the top ten, mid‑caps and small‑caps were mixed, with most tokens barely budging. Traders cited low volume and headline inertia as reasons not to chase moves today in the broader market.

Corporate and Regulatory Highlights

South Korea’s central bank chief, Rhee Chang‑yong, said he isn’t opposed to won‑denominated stablecoins—but warned that they could complicate forex management if they fuel demand for dollar‑pegged tokens.

On the other hand, at Shanghai’s Lujiazui Forum, PBOC Governor Pan Gongsheng outlined plans to expand e‑CNY use worldwide, including setting up an international operations center in Shanghai and deepening ties with foreign banks through CIPS.

Meanwhile, in a landmark vote on June 17, the U.S. Senate passed the GENIUS Act, creating the first federal regulatory regime for dollar‑pegged stablecoins. The bill—approved 68‑30—now heads to the House, promising clearer rules for issuers and monthly reserve disclosures

What’s Next for Crypto

Eyes are on Fed Chair Powell’s remarks later this week, as traders look for clues on whether the central bank will revise its rate outlook. Outside the U.S., keep watching oil markets for any further geopolitically driven spikes. And for crypto‑specific signals, ETF flow numbers and on‑chain metrics remain the best early warning system when headlines turn dull.