Bitcoin Price Analysis: BTC Slips 1.2% as Volume Thins Near $100K Support

Bitcoin has experienced a 1.24% decline, dropping to $101,558 as trading volume remains subdued. The recent high-volume rejection at $105,200 confirms this level as resistance, following a significant 189% increase in volume during a recent selling episode. Prices consolidated below the critical $102,000 resistance after sliding from recent peaks. The soft volume indicates cautious market participation, especially as Bitcoin approaches the psychological support of $100,000. Intraday trading revealed heightened selling pressure, with 27,579 BTC exchanged, demonstrating a significant spike above the 24-hour moving average. Institutional investors are hedging with options as the market stabilizes around the $100,000 mark, with notable activity in December and March put options. Key support levels are established at $101,625, while the resistance range lies between $105,200 and $105,340. Bitcoin's current price action suggests a struggle for upward movement, with risks extending toward the critical $100,000 support level.

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