Bitcoin faces massive $105K sell wall as traders brace for market manipulation and tariff ruling
Bitcoin (BTC) hovered around $103,000 on Thursday, struggling to recover as traders confronted what analysts described as an “insane” wall of sell orders above $105,000. Data from Cointelegraph Markets Pro and TradingView showed that after an early rebound attempt, the price stalled again, constrained by heavy selling pressure visible in exchange order books.
According to trader Skew, the large cluster of ask orders capping Bitcoin’s price was “not surprising” and likely part of a liquidity strategy used to suppress upward movement. He noted that similar setups often occur during Asian trading hours to drive prices lower when market activity is thinner. The sell orders stretched all the way to $112,000, creating what analysts called a “liquidity wall.”
Another analytics firm, Material Indicators, found it “interesting” that the intense sell-side liquidity had not already triggered a broader correction. The firm suggested that the same entity behind the orders might be attempting to push prices down toward the $98,000–$93,000 range. It predicted that if Bitcoin reached $105,000, some or all of the sell orders would likely be withdrawn, implying the wall could be a form of market manipulation rather than genuine selling intent.
Despite the bearish signals, Material Indicators also pointed out that Bitcoin’s 50-week Simple Moving Average (SMA) recently acted as support. If that level holds, analysts said, it could sustain a macro bullish structure, meaning the broader uptrend remains intact. Commentator Exitpump called the ask wall “insane,” echoing doubts about its authenticity.
Veteran crypto investor Kyle Chasse warned that there was growing bid liquidity, buy orders, below current levels, which could precede another short-term dip. “Confidence could get wiped in a heartbeat,” he cautioned, sharing CoinGlass data showing traders adjusting positions rapidly as volatility returned.
Outside crypto markets, broader macroeconomic factors also weighed on sentiment. U.S. stock indices, which recently hit record highs, began to cool amid speculation that the Supreme Court might soon rule against broad international trade tariffs. Such a decision could trigger a rally across equities by reducing trade tensions, but also shift capital away from risk assets like Bitcoin in the short term.
Prediction markets and media reports suggested that the Court’s judges were “skeptical” about the legality of the tariffs, making their removal increasingly likely. As traditional markets braced for the potential ruling, Bitcoin traders remained cautious, facing both macro uncertainty and a potentially artificial resistance barrier above $105,000.
Source: Cointelegraph
US Bitcoin ETFs see $2 billion in outflows as crypto markets face Supreme Court and liquidity pressure
United States spot Bitcoin exchange-traded funds (ETFs) have recorded over $2 billion in outflows during the past week, marking their second-worst redemption streak on record, according to data from Farside Investors. The six-day selling stretch began on October 29 and underscores weakening institutional sentiment amid macroeconomic uncertainty and a strengthening U.S. dollar.
On Wednesday, Bitcoin ETFs logged another $137 million in redemptions, adding to earlier sessions of $566 million on Tuesday, $470 million, $488 million, and $191 million earlier in the week. The only time outflows were heavier was in late February, when ETFs saw a record $3.2 billion withdrawn in just one week, including two massive single-day redemptions of over $1.1 billion and $757 million.
The continued withdrawals come as Bitcoin (BTC) trades around $103,000, struggling to break above key resistance levels after repeated sell-offs. Analysts suggest that the ETF outflows reflect a mix of profit-taking following Bitcoin’s surge above $110,000 last month and renewed caution due to macroeconomic and legal uncertainty.
Meanwhile, Ethereum (ETH) ETFs also faced strong selling pressure, recording $118.5 million in outflows on Wednesday, marking their sixth consecutive day of redemptions. Institutional investors have withdrawn nearly $1.2 billion from Ether products over the same period.
BlackRock’s ETHA led the withdrawals with $146.6 million in outflows, while Bitwise’s ETHW and VanEck’s ETHV remained steady. Despite the recent decline, Ethereum ETFs have still attracted $13.9 billion in cumulative inflows since their debut, reflecting longer-term investor interest in the network’s institutional growth potential.
In contrast, Solana (SOL) ETFs have bucked the bearish trend, attracting $9.7 million in inflows on Wednesday — their seventh consecutive day of positive flows. Total net inflows into Solana-based funds have now reached $294 million since launch, making Solana one of the few bright spots in the current digital asset ETF landscape.
Adding to the tension, the U.S. Supreme Court has begun hearings on the legality of former President Donald Trump’s use of the International Emergency Economic Powers Act (IEEPA) to impose broad international tariffs. Several justices expressed skepticism over the extent of presidential trade powers, injecting new uncertainty into global markets.
Analysts at Bitunix warned that even if the Court limits Trump’s authority, tariff risks may persist through alternative legal channels. The firm noted that the dollar has strengthened on safe-haven demand, while Bitcoin remains volatile near $100,000, as judicial risk and liquidity tightening continue to shape market sentiment.
Source: Cointelegraph
Galaxy Digital cuts year-end Bitcoin target to $120K amid whale selling, AI and gold competition
Galaxy Digital, a key player in the cryptocurrency investment space, has reduced its year-end price target for Bitcoin (BTC) to $120,000, down from a previous projection of $185,000.
The adjustment reflects growing headwinds for Bitcoin, including large-scale holder distributions (“whale selling”), intensifying competition from artificial intelligence narratives and gold, and waning retail momentum.
According to Alex Thorn, head of research at Galaxy Digital, Bitcoin’s dip below the $100,000 level this week has triggered a reassessment of its near-term outlook.
Thorn and his team describe the market as transitioning into a “maturity era”, characterised by more institutional involvement, lower retail participation and reduced volatility compared to earlier phases of exponential growth.
One of the most conspicuous concerns is the massive redistribution of Bitcoin holdings by long-term holders. Galaxy estimates that around $50 billion worth of BTC has been moved by these whales, creating a supply overhang and placing pressure on upward price momentum.
Simultaneously, the launch and absorption of Bitcoin focused exchange-traded funds (ETFs) has altered the liquidity dynamics, meaning new flows into the asset are no longer sufficient to offset the large exit pressure.
Bitcoin also faces increased competition in the investment themes arms race. The hype around artificial intelligence, and the subsequent flow of capital into AI-related stocks and tokens, is diverting attention away from Bitcoin’s store-of-value narrative. At the same time, gold remains relevant as a traditional inflation hedge, meaning Bitcoin must compete on multiple fronts to attract capital.
Despite the more modest target, Galaxy remains bullish on Bitcoin’s long-term fundamentals, highlighting the network effect, growing institutional adoption and regulatory progress in key markets. What has changed is the timing and pace of the expected move. The firm warns that if Bitcoin loses the current support, there is a risk of a deeper pull-back before the next leg up.
For investors and observers, the revised target signals that Bitcoin’s path upward may be less steep than previously anticipated. The key takeaway: while the broader story remains intact, the market must contend with substantial distribution pressure, evolving narratives and a more complex liquidity environment.
Source: The Block