Bitcoin and several major altcoins are attempting to initiate a recovery, but analysts suggest they may face considerable selling pressure as prices rise. This situation is crucial for investors to monitor, as it could indicate the market's overall health and potential future trends.

Bitcoin is currently facing a critical resistance level at $117,500, as bulls attempt to take control of the market. This situation raises questions about whether altcoins will benefit from Bitcoin's potential price fluctuations. Understanding these dynamics is essential for investors looking to navigate the cryptocurrency landscape effectively.