- Bitcoin reached a new all-time high of $103,679 during U.S. trading hours.
- Over 4,600 BTC in buy orders support the $100,000 price level.
- Exchange data shows net inflows of 8,000 BTC worth approximately $860 million.
- Trading volume exceeded $98 billion on Thursday, surpassing Wednesday’s $87 billion.
- Sell-side pressure appears lower above $100,000 compared to previous resistance levels.
Bitcoin Surpasses $103,000 Milestone Amid Strong Market Support
Bitcoin reached $103,679 late Wednesday during U.S. trading hours, marking a historic milestone for the cryptocurrency as trading volumes surge and order book data indicates sustained support above the $100,000 level.
Order Book Analysis Shows Strong Support
BRN analyst Valentin Fournier reports substantial buying pressure at the $100,000 mark, with order books showing more than 4,600 BTC in buy orders. The selling pressure appears relatively modest, with approximately 3,400 BTC in sell orders positioned below $110,000.
“_The order book reveals robust support at the $100K level_,” Fournier told Decrypt. “_On the sell side, there are approximately 3,400 BTC in orders below the $110K level, suggesting a weaker resistance compared to the barrier that had to be overcome to break past $100K._”
Exchange Flows and Trading Activity
According to IntotheBlock Marketing Director Vincent Maliepaard, exchanges recorded a significant net inflow of over 8,000 BTC on Wednesday. At current prices, this represents approximately $860 million worth of Bitcoin moving onto trading platforms.
Trading activity has intensified, with CoinGecko data showing Thursday’s volume reaching $98 billion, surpassing Wednesday’s $87 billion. This approaches the year’s peak trading day on November 13, when Bitcoin first crossed $93,000, generating $152 billion in trading volume.
The price currently hovers at $103,511, representing an 8% increase from the previous day. Market indicators suggest sustained momentum, with order book data pointing to limited resistance up to the $110,000 level. However, daily exchange flow data, which tracks investor selling patterns, won’t be available until the following day’s analysis.
✅ Follow BITNEWSBOT on Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Bitcoin Hits $100K, Claims 7th Spot Among Global Assets as Crypto Cap Soars
- Bitcoin Smashes $100K, Becomes World’s 7th-Largest Asset Above Meta, Tesla
- Mt. Gox Moves $2.8B Bitcoin as Price Holds Above $100K Milestone
- Bitcoin Mining Isn’t Math: It’s a Trillion-Guess Digital Lottery Race
- BlackRock Bitcoin ETF Hits $50 Billion in Record Time, Shattering Industry Norms
