- Bitcoin slipped 1.24% to around $101,500, testing the $100,000 psychological support as trading volume cooled across major exchanges.
- High-volume rejection above $105,000 confirmed resistance, triggering cautious range-bound action around the $101K–$102K zone.
- Institutional investors are hedging via put options, signaling defensive positioning rather than broad bearish sentiment.
Bitcoin’s price eased 1.2% on Tuesday, falling from roughly $103,400 to $101,775 as trading activity thinned near key support levels. The decline came on modest volume — only slightly above weekly averages — suggesting traders are sitting tight as the asset consolidates below the $102,000 threshold.
A sharp burst of selling around $105,200 earlier in the session marked the ceiling for now. Roughly 27,500 BTC changed hands in that period, nearly double normal activity, as buyers failed to sustain momentum. That spike confirmed $105,200 as strong resistance and reinforced Bitcoin’s struggle to push higher amid broader market caution.
Institutions Hedge While Holding Exposure
Despite the minor pullback, institutional positioning tells a more complex story. Options data shows large players increasing exposure to protective puts — December $98,000 contracts saw open interest jump 43%, while March $80,000 puts gained 31%. Analysts interpret this not as outright bearishness but as disciplined hedging after a steep year-long rally above the $100K zone.
This activity comes as Bitcoin hovers near its 365-day moving average — a level that historically acts as major support. The last time BTC broke below this line, in 2022, it triggered a deep correction. For now, institutions appear to be fortifying positions rather than exiting entirely.
Technical Levels and Market Outlook
Support currently sits at $101,600, with a stronger psychological floor at $100,000. Resistance remains at $105,200 to $105,340 — a zone that needs to clear for any renewed upside. A failure to hold $100K could open room for a deeper retracement toward $92,000, while holding above it may lead to gradual recovery toward $102,000–$105,000.
For now, Bitcoin’s price action reflects a calm but fragile market — one where large players are cautious, retail traders are subdued, and every bounce meets quick profit-taking. Until volume returns and macro sentiment stabilizes, consolidation looks like the path of least resistance.
