Bitcoin Price Analysis: BTC Dips 0.9% as Heavy Volume Breakdown Tests Key Support
CoinDesk
Bitcoin experienced a 0.9% dip in price, facing strong selling pressure around $102,000 despite significant institutional inflows.Summary
Bitcoin (BTC) retreated from session highs above $105,300, falling to around $102,000 with substantial selling volume – 138% above the 24-hour average. This breakdown occurred after a period of resistance testing near $105,050. Despite the price decline, spot Bitcoin ETFs saw $524 million in net inflows, with BlackRock and Fidelity leading the way. On-chain data indicates profit-taking, with increased exchange inflows to Binance. However, positive hash rate momentum suggests continued network strength. Key support levels are identified at $102,000 and $101,450, while resistance lies near $105,050 and $107,000. A break below $102,000 could target the $100,600-$101,200 zone.
(Source：CoinDesk)