Bitcoin Slips 1.2% as Volume Thins Near $100K Support
The price of bitcoin (BTC) pulled back from recent peaks, dropping from $103,413 to $101,775 on Tuesday, consolidating below the $102,000 resistance. Trading volume was slightly above weekly averages, indicating cautious market activity near the $100,000 psychological support. Heavy selling pressure occurred at 15:00 UTC when 27,579 BTC were traded as buyers failed to push beyond $105,200, confirming a resistance zone between $105,200-$105,340. Defensive actions included increased open interest in derivatives markets as investors hedged risks. Bitcoin's price exhibited range-bound behavior, trading between $101,700-$102,000, with support at $100,000 and resistance at $105,200. Analysts project price targets up to $180,000 but also warn of potential 70% corrections. Technical indicators show ongoing consolidation with risks of dipping to $92,000 if critical support is breached.
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Bitcoin's Recent Price Pullback
According to CoinDesk Research's technical analysis data model, bitcoin (BTC) pulled back from recent peaks on Tuesday, sliding from $103,413 to $101,775 as the world's largest cryptocurrency consolidated below the key $102,000 resistance. The 1.24% decline unfolded on tepid volume, only 2.11% above seven-day averages, signaling cautious market participation despite the proximity to the critical $100,000 psychological support level.
Intensified Selling Pressure in Key Session
Selling pressure intensified at 15:00 UTC, as 27,579 BTC traded hands — 189% above the 24-hour moving average — when buyers failed to sustain momentum above $105,200. This breakdown, originating from the session high of $105,342, confirmed strong overhead resistance and Bitcoin's continued struggle to advance beyond ascending trendlines from overnight lows.
Volatile Recovery Attempts
Sixty-minute data shows volatile recovery attempts, with bitcoin bouncing from $101,625 to $102,154, before stalling near current levels. The rally generated peak volume between 17:37-17:40 UTC, marking the session's strongest buying interest. However, momentum faded at the critical $102,000 barrier, indicating a lack of follow-through.
Defensive Positioning and Institutional Outlook
Institutional investor Dan Tapiero projected $180,000 targets for bitcoin while cautioning on a potential 70% correction. Sophisticated investors appear to be building defensive positions in derivatives markets, with December 2025 $98,000 puts jumping 43% in open interest, and March 2026 $80,000 puts rising 31%. These moves reflect portfolio hedging activity rather than outright bearish sentiment, as bitcoin manages to hold above $100,000.
Key Technical Levels and Market Indicators
Support/Resistance: Primary support holds at $101,625 from Tuesday's lows, with major psychological support at $100,000. Resistance is confirmed within the $105,200-$105,340 zone, following the high-volume selling climax.
Volume Analysis: Peak selling volume of 27,579 BTC at 15:00 UTC marked a session breakdown, while subsequent recovery attempts on lighter volume suggest consolidation rather than directional conviction.
Chart Patterns: Bitcoin broke below the ascending trendline from overnight lows, printing consecutive lower highs from the 13:00 UTC rejection. Current price action indicates range-bound trading between $101,700-$102,000.
Short-Term Targets and Risk Considerations
The next upside target is located at $102,150 resistance, derived from Tuesday's recovery peak. On the downside, risks extend toward the $100,000 psychological support, with deeper pullback potential toward $92,000 if the key level fails.
Investors should monitor these levels closely to assess future market strength or weakness.
Disclaimer
Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more details, see CoinDesk's full AI Policy.