Bitcoin (BTC) surged past $102,000 after a brief dip below $101,000 during a day of significant trading activity, according to CoinDesk Research's analysis. This volatility prompted traders to respond quickly, resulting in a notable price rebound. James Lavish, Managing Partner at the Bitcoin Opportunity Fund, remarked on social media that panic selling over potential war reflects a misunderstanding of Bitcoin's value. Currently, the price range between $100,000 and $110,000 has kept BTC in check for about a month. On-chain metrics reveal a market in equilibrium without notable profit-taking or aggressive buying, while derivatives indicate a cautious outlook with ongoing demand for downside protection.
Technical analysis from the session showed that BTC pushed past $102,800 thanks to peak trading volumes reaching 17,906 BTC. During a five-minute window, the price rose from $102,767 to $102,912, aided by trading volumes exceeding 150 BTC per minute. This peak was accompanied by a recovery volume of 184.24 BTC that moved BTC towards $102,990. As the market stabilized around $102,680 to $102,720, a new support level emerged near $102,870, indicating that volatility might be subsiding.
Technical analysis from the session showed that BTC pushed past $102,800 thanks to peak trading volumes reaching 17,906 BTC. During a five-minute window, the price rose from $102,767 to $102,912, aided by trading volumes exceeding 150 BTC per minute. This peak was accompanied by a recovery volume of 184.24 BTC that moved BTC towards $102,990. As the market stabilized around $102,680 to $102,720, a new support level emerged near $102,870, indicating that volatility might be subsiding.
