Bitcoin News Today: Bitcoin's $105K Wall: A Breakdown Could Spark Fresh Sell-Off

Bitcoin Faces Key Resistance as Coinglass Flags $105K Sell Wall

Bitcoin's price has drawn attention to a critical resistance level amid shifting market dynamics. Coinglass, a leading crypto analytics firm, reports a $105,000 sell wall above current levels, which could act as a significant barrier for the cryptocurrency. This comes after Bitcoin's October performance deviated from its historical "Uptober" trend, with the asset slipping 3.7% for the month—the first such decline in seven years, according to an Economic Times report.

The sell-off has been exacerbated by macroeconomic pressures. Trade disputes between the U.S. and China, coupled with volatility in oil prices and geopolitical risks, have driven investors toward traditional safe-haven assets like the U.S. dollar and gold, the Economic Times article says. Coinglass data also highlights that over 100,000 BTC changed hands in October, amplifying downward momentum, the same article adds. Analysts warn that if Bitcoin fails to hold above $113,000—a key resistance level representing the cost basis for short-term holders—it risks a sharp decline to $88,000, where historical support aligns with the realized price of active investors, the Economic Times article notes.

Recent price action underscores the fragility of the market. On October 30, 2025, Bitcoin traded at $111,328, having dipped to a 24-hour low of $107,000, according to TradingView. Trader Josh Olszewicz notes a broadening pattern, with resistance at $126,000–$128,000 and support at $105,400–$103,800. The $105K level, in particular, has become a focal point for traders, as a breakdown could trigger further capitulation selling.

Coinbase's Q3 earnings provide a mixed signal. While the exchange's profit surged to $1.05 billion, driven by higher trading volumes, Bitcoin's price premium on the platform turned negative in late October and early November, the Economic Times article reports. This anomaly, often interpreted as a bearish indicator of U.S. retail sentiment, reflects growing caution among investors, the article adds.

Looking ahead, analysts expect Bitcoin to trade sideways between $107,500 and $123,000 in November, with market uncertainty around U.S. economic data and a potential government shutdown keeping volatility elevated, the Economic Times article says. However, a "Santa Rally" could emerge in December if the Federal Reserve follows through on plans to end quantitative tightening and cut interest rates again, the same article suggests. Such a move might restore liquidity and optimism, though traders will closely monitor the $113,000 resistance and $100,000 support levels for directional clues.