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

Bitcoin experienced a 1.24% decline, falling to $101,558 as trading volume remained low, indicating cautious market participation despite its proximity to the psychological support level of $100,000. A high-volume rejection at $105,200 confirmed strong resistance after a significant increase in selling volume. The decline stemmed from earlier highs, highlighting Bitcoin's struggle to consolidate below key resistance around $102,000. Institutions are strategically positioning to hedge against elevated valuations, as evidenced by increased open interest in put options for December and March. Technical analysis suggests support exists around $101,625, with critical levels indicating range-bound trading patterns. The next upside target is set at $102,150, while downside risks loom at $100,000 and notably towards $92,000 if breached, pointing to potential market sensitivity in upcoming sessions.

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