Bitcoin Price at $106K Amid Whale Selling and $110K Hurdle
Bitcoin price has stabilised near $106,000 after touching $107,000 earlier this week, pressured by large whale sell-offs and technical resistance at the 200-day moving average around $110,000. Trading volumes have declined, with open interest in Bitcoin futures falling from $94 billion in October to $68 billion, indicating reduced leverage. US spot Bitcoin ETFs registered minimal net inflows of $1 million, underperforming equities following the federal shutdown resolution. Experts point to sustained whale selling and a lack of fresh catalysts—such as regulatory clarity or macroeconomic improvements—as key factors keeping Bitcoin in a narrow range. Key support lies at $103,000, below which a drop towards $86,000 could accelerate selling, while a decisive break above $110,000 may attract momentum buyers seeking targets of $115,600 and $118,000. Traders should monitor ETF flows, futures open interest and technical levels for signs of renewed momentum.
Neutral
The news highlights balanced pressures: significant whale selling and weak ETF inflows create bearish headwinds, while technical support at $103K and a clear upside break of $110K remain possible bullish triggers. Declining futures open interest points to reduced leverage and caution among traders. This scenario mirrors past range-bound phases where Bitcoin consolidated before a decisive move, suggesting neutral near-term outlook until fresh catalysts emerge.