Bitcoin Pulls Back From $105K Highs, Finds Support Near $102K
Bitcoin (BTC) retreated on Tuesday after reaching session highs above $105,300, as heavy selling pressure pushed the price down 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 failed attempts to break higher.
The cryptocurrency traded within a $3,289 range, with the key breakdown occurring at 2:00 PM UTC on massive 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 choppy price action 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, significantly lower than the 24-hour mean of over 400 BTC.
Institutional Flows and On-Chain Activity
BTC’s pullback occurred alongside robust institutional demand. Spot Bitcoin ETFs recorded $524 million in net inflows on Tuesday, the largest daily total since October 7, with BlackRock’s iShares Bitcoin Trust taking in $224.2 million and Fidelity’s FBTC drawing $165.8 million.
On-chain metrics indicate distribution pressures remain. Roughly 7,500 BTC are moving to Binance daily on a 30-day average—the highest since March—reflecting ongoing profit-taking. Short-term holders with cost basis near $112,000 contributed to selling pressure, while mining fundamentals remain strong, with hash rate momentum trending higher, signaling continued network resilience.
Key Technical Levels
- 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 strong institutional inflows and miner support stabilizing prices near $102K, even as short-term selling pressure continues to test the market.
About The Author
More Stories
According to Galaxy Digital’s research chief, Bitcoin faces a highly unpredictable 2026.
According to Fidelity’s Jurrien Timmer, 2026 could be underwhelming while Bitcoin’s four-year cycle remains intact.
BlackRock’s Bitcoin ETF attracts $25 billion over the year, defying the recent Bitcoin downturn.