Bitcoin Eyes Next Leg Higher but Faces $120M Resistance Wall
Bitcoin’s rally has followed a textbook “stair-step” pattern—methodical moves higher punctuated by brief consolidations—and now faces a key test at the $105,000 level, where bulls must overcome roughly $120 million in sell pressure, according to order book data.
Since April 9, Bitcoin has surged nearly 38%, rising from $75,000 to a current price of $103,162.90, fueled by easing global trade tensions and increased institutional flows.
The uptrend has unfolded in measured steps. After the initial surge to $83,000–$85,000, BTC entered a range before breaking higher. A similar pause occurred between $92,000 and $96,000 before the next leg carried the asset into six-figure territory.
Currently, price action has been consolidating between $101,000 and $105,000 since May 10, suggesting that Bitcoin is once again gathering momentum before attempting another breakout.
But extending this rally won’t come easy. Order book data from Kiyotaka.ai shows nearly $50 million in sell orders at $104,800, along with another $70 million stacked at $105,000 across major crypto exchanges, creating a substantial $120 million resistance zone.
Kiyotaka.ai aggregates order book data from top spot exchanges—including Binance, Bitstamp, Bybt, Coinbase, and OKX—as well as perpetual futures markets on Binance, Bybit, and OKX. These limit sell orders, placed above market price, act as short-term barriers that can slow upward momentum until absorbed by buying demand.
The data shows that sellers are increasingly looking to take profits as Bitcoin nears its all-time high zone, contributing to a densely packed global order book at higher price levels.
Still, broader macro trends and technical indicators lean bullish. Momentum signals suggest the path of least resistance remains upward, and it’s likely only a matter of time before the market digests current sell pressure and pushes toward new highs.
In short: these sell walls are temporary—and bulls appear determined to break through.
