Bitcoin Stalls Near $102,200 After Institutional Buying Spree

Bitcoin's price has recently experienced a stall after rebounding from below $98,000 last week. The cryptocurrency faced rejection near the $102,200 mark, leading to a retreat to around $101,400. This price movement has left market sentiment cautiously bullish, with traders closely watching the $101,000 level as a crucial pivot point for sustaining the bullish structure in the short term.

Despite the recent price fluctuations, major institutions have continued to accumulate Bitcoin. Global public companies recorded strong net inflows, indicating a steady long-term interest in the cryptocurrency. Notably, MicroStrategy extended its buying streak to 11 consecutive weeks, investing $26 million to purchase 245 BTC at an average price of $105,856. Additionally, Japan-based Metaplanet acquired 1,111 BTC for $118 million at an average cost of $106,408, bringing its total holdings to 11,111 BTC.

The crypto market remains shaky, with near-term price direction hinging on key support and resistance zones. If bulls manage to defend the $101,000 level, a push toward $103,000 could follow. However, a breakdown below $101,000 could trigger fresh long liquidations and increased volatility, potentially dragging the price back to lower support clusters.

According to the analysts, the $101,000 area is now viewed as a crucial pivot point to sustain the bullish structure. If bulls lose grip on that level, a retest of $100,000 could follow quickly. Despite fading momentum, SuperTrend indicators remain in positive territory, showing bulls still have a chance to regain control.

Bitcoin’s current price stands at $102,140, marking a 1.12% increase in the past 24 hours. Its weekly performance, however, shows a 4.64% decline. Over the last week, BTC traded within a range of approximately $98,974 to $108,771. Short positions face pressure above $102,400, while strong demand remains below $100,200. These levels may act as liquidation magnets, driving sharp moves depending on trader sentiment.