Bitcoin News Today: Bitcoin Faces $105K Resistance: Breaching This Level May Trigger New Wave of Selling

Bitcoin Encounters Major Hurdle as Coinglass Identifies $105K Sell Barrier

Bitcoin's value is currently testing a crucial resistance point amid evolving market conditions. According to Coinglass, a prominent provider of crypto analytics, there is a significant sell wall at $105,000 just above the current price, which could present a formidable obstacle for the digital asset. This development follows Bitcoin's atypical performance in October, where it dropped 3.7%—marking its first negative "Uptober" in seven years, as highlighted by an

.

Wider economic factors have intensified the recent sell-off. Ongoing trade tensions between the U.S. and China, fluctuations in oil prices, and global geopolitical uncertainties have prompted investors to favor traditional safe-haven assets such as gold and the U.S. dollar, according to the Economic Times. Coinglass data further reveals that over 100,000 BTC were traded in October, adding to the downward pressure, the article notes. Experts caution that if

cannot maintain a position above $113,000—a pivotal resistance level representing the average cost for short-term investors—it could quickly fall to $88,000, where historical support coincides with the realized price for active holders, as per the Economic Times.

Recent trading activity highlights the market's vulnerability. On October 30, 2025, Bitcoin was priced at $111,328, after reaching a 24-hour low of $107,000, according to

. Analyst Josh Olszewicz observes a widening price pattern, with resistance found between $126,000 and $128,000, and support ranging from $105,400 to $103,800. The $105,000 threshold has become a key area of interest, as a breach below this level could lead to increased selling pressure.

Coinbase's third-quarter financial results send mixed signals. Although the exchange reported a profit jump to $1.05 billion due to increased trading activity, Bitcoin's price premium on Coinbase turned negative at the end of October and into early November, according to the Economic Times. This shift, often seen as a sign of bearish sentiment among U.S. retail investors, suggests growing caution in the market, the article continues.

Looking forward, analysts predict Bitcoin will fluctuate between $107,500 and $123,000 throughout November, with ongoing uncertainty over U.S. economic indicators and a possible government shutdown keeping volatility high, the Economic Times reports. Nevertheless, a "Santa Rally" could materialize in December if the Federal Reserve proceeds with plans to halt quantitative tightening and lower interest rates again, the article suggests. Such policy changes could boost liquidity and market optimism, but traders will be watching the $113,000 resistance and $100,000 support levels for signs of the next trend.