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Bitcoin (BTC) retreated from recent highs Tuesday, slipping from $103,413 to around $101,775 as the market paused beneath the key $102,000 resistance. The 1.24% drop occurred on moderate volume—just 2.11% above the seven-day average—signaling limited participation despite the proximity to the critical $100,000 psychological support level.
At 15:00 UTC, a sharp wave of selling pressure saw 27,579 BTC traded—189% above the 24-hour average—after buyers failed to sustain momentum beyond $105,200. The session high of $105,342 confirmed stiff resistance, with bitcoin struggling to extend gains above its ascending trendlines from overnight lows. Subsequent recovery attempts lifted BTC briefly from $101,625 to $102,154 before losing steam near resistance, indicating indecision in short-term momentum.
Institutional sentiment appears cautious. Noted investor Dan Tapiero’s projection of $180,000 targets comes alongside warnings of potential 70% corrections. Options data reflects a hedging-heavy environment: open interest in December 2025 $98,000 puts jumped 43%, while March 2026 $80,000 puts rose 31%. This activity suggests risk management strategies rather than outright bearish bets, as traders safeguard positions near the $100,000 threshold.
Technical analysis points to range-bound trading. Primary support remains at $101,625, with the major psychological level at $100,000. Resistance is firmly set in the $105,200–$105,340 zone following heavy sell-offs. Volume trends indicate consolidation rather than directional conviction, while consecutive lower highs confirm short-term weakness.
If BTC breaks below $100,000, downside risks could extend toward $92,000. Conversely, a move above $102,150—the immediate recovery target—may reopen bullish potential. With volatility tightening and investors positioning defensively, Bitcoin’s next major move could hinge on its ability to hold key support in the coming sessions.
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