Bitcoin is currently facing severe exhaustion of bullish momentum as it trades near $120,000 amidst significant positive dealer gamma. This leads to increased consolidation and a potential retest of key support levels between $116,000 and $117,000. If breached, prices could drop toward the May highs near $112,000. In contrast, a move above $120,000 may set the stage for new record highs. For Ether, despite briefly reaching a seven-month high of $3,937, momentum waned as it retreated to $3,880, indicating potential bearish divergence. XRP has seen a pullback after failing to maintain a former support level at $3.35, signaling a bearish shift. Meanwhile, Solana exhibits renewed upward momentum but risks an accelerated decline if it falls below $184. The current market dynamics suggest significant volatility and potential corrective actions across these cryptocurrencies.

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