Bitcoin Pulls Back From $105K Highs, Stabilizes Near $102K
Bitcoin (BTC) retreated on Tuesday after testing session highs above $105,300, with heavy selling pressure pushing the price toward the $102,000 psychological support. According to CoinDesk Research’s technical model, BTC slid from $103,177 to $102,203, forming a bearish structure after multiple failed breakout attempts.
The cryptocurrency traded in a wide $3,289 range, with the key breakdown occurring at 2:00 PM UTC on volume of 27,579 BTC—138% above the 24-hour average. Following early resistance near $105,050, BTC formed consecutive lower highs through 4:00 PM UTC, before stabilizing in a $101,500–$102,200 consolidation range as selling pressure eased.
Hourly data shows price fluctuating between $101,940–$102,475, with repeated rejections above $102,400. Buyers defended the $102,000 level across multiple tests, while turnover averaged just 165 BTC, well below the 24-hour mean of over 400 BTC.
Institutional Demand and On-Chain Metrics
BTC’s pullback coincided with strong institutional flows. Spot Bitcoin ETFs recorded $524 million in net inflows, the largest daily total since October 7, with BlackRock’s iShares Bitcoin Trust taking in $224.2 million and Fidelity’s FBTC $165.8 million.
On-chain data shows distribution pressures continue, with roughly 7,500 BTC moving to Binance daily—the highest rate since March—suggesting ongoing profit-taking. Short-term holders with cost basis near $112,000 contributed to selling pressure, while mining fundamentals remain supportive, with hash rate momentum trending higher.
Technical Levels & Outlook
- Support: $102,000 (primary), $101,450 (secondary)
- Resistance: $105,050 (primary), $107,000 (secondary)
- Volume: 27,579 BTC during breakdown; 165 BTC during consolidation
- Chart Patterns: Consecutive lower highs, stabilizing in $101,500–$102,200 range
- Targets: Break below $102,000 risks $100,600–$101,200; reclaiming $105,050 opens path to $107,400
Bitcoin remains range-bound, with institutional inflows and miner support helping stabilize prices near $102K, even as short-term selling continues to test market strength.
