Bitcoin Price Hovers Near $105K as $103K Support Looms

Bitcoin (BTC) is teetering just below a critical ceiling, trading around $104,900. Traders are fixated on the razor-thin range bounded by a bid wall at $103,000 and a liquidity cluster at $105,000. The upper boundary serves as both psychological resistance and a magnet for heavy sell orders, repeatedly stalling rallies and heightening downside risk.

Volume analytics underscore the danger. June’s Point of Control—identified by the Fixed Range Volume Profile—sits precisely at $103,000 and overlaps the weekly composite profile, marking it as the month’s most-traded price. If BTC slips below this zone with conviction, sellers could quickly drag prices toward the symbolic $100,000 threshold.

Global macro uncertainty compounds the caution. Persistent geopolitical tensions and fragile growth forecasts have dampened market volatility, discouraging large directional bets. Meanwhile, the daily Relative Strength Index remains neutral, signaling neither bulls nor bears hold a decisive edge and leaving Bitcoin susceptible to range-bound “chop” or a slow bleed lower.

A clear bullish catalyst is now essential. Without fresh momentum, any break beneath $104,000 could transform the $100,000 level from sturdy psychological support into a trapdoor for panic selling. For bulls, defending $103,000 is paramount to preserving the broader uptrend and averting a deeper correction.