The bellwether cryptocurrency #Bitcoin (BTC) recently touched $105,700 before retreating by 3 per cent, indicating potential profit-taking near the $106,000 resistance level, a zone where long-term holders may be looking to exit. The pullback in the flagship currency coincided with broader macroeconomic shifts, including a strengthening US dollar index and renewed optimism around the US–China trade deal, which boosted equities and encouraged profit booking in crypto.
The $100K mark, analysts said, remains a critical psychological and liquidation level, with over $3.4 billion in long positions exposed to downside risk if selling pressure continues.
As of 10:44 AM on Tuesday, May 13, Bitcoin was trading at $102,662.30, down 1.19 per cent on CoinMarketCap. Over the past 24 hours, it fluctuated between $100,814.40 and $105,747.45, with a trading volume of $64.27 billion. Its market capitalisation stood at $2.16 trillion, maintaining its lead as the most valuable cryptocurrency.
Vikram Subburaj, CEO of Giottus Crypto Platform, sees the dip as a healthy correction. "Bitcoin has dipped, likely due to a liquidity grab of long positions in the ecosystem. It retested key levels and is now trading just below $102,000. This is a healthy retracement and could enable BTC to retest $105,000 with conviction later this week," Subburaj said.
Traders eye US CPI data
Today’s US CPI data, Riya Sehgal, research analyst at Delta Exchange, said, will be a critical catalyst. "A softer print could reignite bullish momentum on hopes of interest rate cuts, while a higher-than-expected number might strengthen the dollar and weigh on crypto prices," Sehgal explained.
That said, institutional demand continues to remain strong. In 2025 alone, corporations have acquired over 157,000 BTC, led by MicroStrategy-style accumulation strategies. Corporate buying now exceeds miner supply, contributing to a supply shortage reminiscent of deflationary conditions that could push prices higher over time.
