Bitcoin showed strong price action in an active trading day, bouncing back to more than $102,000 after even piercing through $100,000. The cryptocurrency was subjected to atypical, high volume trading, and agitated market participants pounced on the move immediately. This surge in activity propelled Bitcoin's price upwards, highlighting its dynamic nature amidst global uncertainties.

This aggressive rise brought Bitcoin to a maximum buy volume of 184.24 BTC, playing a part in pushing the price towards the $102,990 peak. A significant midnight push further fueled this momentum, briefly lifting Bitcoin above $102,800 with a trading volume that peaked at 17,906 BTC.

Between 05:57 and 06:00, Bitcoin's value rose from $102,767 to $102,912, supported by volume spikes exceeding 150 BTC per minute. Before this breakout, the crypto had 1-minute level consolidation at $102,680–$102,720 range. As volatility waned, a greater support floor started to build just below $102,870.

CoinDesk Research’s proprietary technical analysis model flagged the session as one of extreme, high-volume trading. Second, the $100,000–$110,000 range has capped Bitcoin’s upward movement for almost a month, suggesting that we are in a consolidation pattern.

The market's reaction to the dip near the bottom of its month-long trading range was swift, reflecting the sensitivity of investors to price fluctuations. James Lavish, Managing Partner of the Bitcoin Opportunity Fund, addressed market participants who might be selling off their Bitcoin holdings due to geopolitical concerns.

"If you are selling Bitcoin because of the possibility of the world going to war, you have absolutely no idea what you own." - James Lavish

Siamak Masnavi is a committed laboratory researcher in the fields of Blockchain and Cryptocurrency regulations. He’s deeply involved in monitoring the macroeconomic trends that are currently defining the crypto landscape.