Bitcoin Price Movement Towards $105,000

Bitcoin is showing an upward trend as it heads into U.S. trading hours, with bulls aiming for a peak of $107,000 as Wall Street opens. It’s a pivotal moment for traders.

Key Highlights:

• The price of Bitcoin is inching higher, suggesting traders are hoping to see a retest of $107,000.

• There are mixed feelings about whether it can hold that level as new support.

• Data about withdrawals from Binance adds a bullish angle to the outlook for Bitcoin’s price.

Resistance Alert at $107,000

Recent data from Cointelegraph Markets Pro and TradingView indicates that Bitcoin’s strength is reappearing on shorter time frames. After closing a previous gap in CME Group’s Bitcoin futures market, it seems to be establishing local lows before potentially climbing higher.

This action has continued a trend of the lowest prices observed since early November, and indicators like the Relative Strength Index (RSI) show a possible bullish breakout on the hourly charts.

“It’s trending upward on lower time frames, but it really needs to break past the $107,000 mark. A successful break could turn this into a solid rally,” said trader Daan Crypto Trades in a response on X.

“That’s my main condition for a bullish shift,” he added.

Another trader, Crypto Tony, expressed that the price may struggle to maintain momentum at its current resistance, identifying $107,400 as an ideal shorting opportunity. He tweeted, “Please bounce up to $107,400. If we can get there, it will be a perfect short zone.”

Meanwhile, trader Luca is wary of a failed recovery, focusing on a support area created by two moving averages, suggesting that more price consolidation could be on the horizon.

“If we dip below the purple support level, we’ll consider hedging our physical holdings to reduce short-term risks, as this could lead to further declines on shorter time frames,” he shared with his followers.

Positive Signals from Binance at $103,000

A more optimistic report came from the on-chain analytics platform CryptoQuant. They observed significant Bitcoin withdrawals from Binance, which might indicate a new accumulation phase is beginning.

“Earlier this month, Binance experienced a notable spike in Bitcoin withdrawal transactions, marking one of the largest increases in 2025,” noted an analyst from CryptoQuant. “This trend suggests a shift in how investors are behaving, providing insights into current market sentiment.”

This surge in withdrawals coincided with Bitcoin reaching $103,000, and the increased activity on OTC desks hints at a rise in private transfers to custodial wallets—another signal that institutions may be getting involved.

“Overall, this spike should be interpreted as a bullish indicator,” the report concluded.

This content is not investment advice. All investment activities carry risks, and individuals should do their own research before making any decisions.