Bitcoin Teases $105K—Will Bulls Smash Records or Get Slaughtered?

Bitcoin’s parabolic rally has traders sweating as it flirts with the $105K threshold. The last resistance before uncharted territory—or a brutal rejection.

Market psychology at a breaking point: Retail FOMO meets institutional accumulation. Meanwhile, Wall Street still can’t decide if crypto is ’digital gold’ or a ’Ponzi scheme’—classic hedge fund whiplash.

Technical indicators scream overbought, but since when did BTC care about fundamentals? Strap in: This next candle decides whether we’re getting champagne showers or margin calls.

• Bitcoin nears $105,000 with low liquidity, making price movements more volatile and unpredictable in the short term.
• Polymarket users are optimistic, with 69% believing Bitcoin will exceed $120,000 in the near future.
• Despite optimism, 39% of Polymarket users anticipate Bitcoin may drop to $70,000 before any new upward movement.

Bitcoin keeps moving higher and is approaching the $105,000 level, which is getting noticed by both traders and analysts in the market. The price has moved into an area where there hasn’t been much trading before, so previous volume is pretty low. Analysts believe the price might keep going up a bit more, but right now there isn’t enough buyers and sellers to back up the move. Short-term momentum seems to be pushing the price around more than the longer-term buildup of supply.

Source: X

Daan Crypto Trades noted that Bitcoin isn’t close to any big areas where many people are trading. He emphasized that not many trades have happened in this area in the past. As a result, there aren’t many big positions around to stop the price from going up or down. The lack of strong order flow means that the price moves could be more chaotic and less steady right now.

Key Price Levels to Watch

The most important levels to watch are $106,000, which is the previous high, and $93,000, which is the bottom of the recent move. This price range shows where there isn’t as much liquidity, and this makes it more likely that prices will keep going up and down. If BTC isn’t able to stay at its current price, it may drop back to the already-tested lower levels soon.

More Crypto Online said that bitcoin might try to reach the $105,700 level, which matches the point where you expect wave c of (B) to end. Technical patterns still show signs of BTC going higher, but for now, it doesn’t have time to pause and get stronger.

Source: X

Polymarket Bitcoin Bullish Sentiment

On the prediction platform Polymarket, people are optimistic that Bitcoin will likely keep going up in the long run. Over 83% of the users think BTC will go higher than its old all-time high in 2025. The Optimism covers different price targets, and most people believe BTC will continue to go up over the next few months.

Source: Polymarket

Approximately 69% of people on Polymarket think Bitcoin will go above $120,000, and 58% think it could go as high as $130,000. Interestingly, around one-third of traders think BTC could reach an even higher level of $150,000. These figures show that both retail investors and big institutions think Bitcoin is likely to go up.

Despite the price going up, almost 39% of people involved in the poll believe that Bitcoin might go above $70,000 again before hitting new records. This means that a lot of investors are still being careful and getting ready for the price to go down again. Even though investors are generally hopeful, people are still holding on to a bit of caution in the market.