On November 13, Bitcoin (BTC), the world's largest cryptocurrency, retreated from its highs, dropping from $103,413 to $101,775, consolidating below the critical $102,000 resistance level, according to CoinDesk Research's technical analysis model. The 1.24% decline was accompanied by trading volume only 2.11% above the seven-day average, indicating cautious market sentiment near the psychological $100,000 threshold.

At 15:00 UTC, selling pressure intensified significantly, with trading volume surging to 27,579 BTC, 189% above the 24-hour moving average. Buyers failed to sustain momentum above $105,200, leading to a pullback from the day's high of $105,342, further confirming the strength of the resistance zone. This price action suggests that bullish momentum is stalling near the uptrend line, making a short-term breakout unlikely.

Short-term data revealed heightened volatility. The 60-minute chart showed Bitcoin rebounding from $101,625 to $102,154 before encountering resistance, with trading volume peaking between 17:37 and 17:40 UTC. However, buying momentum gradually weakened near $102,000, signaling a divergence between price and volume that reflects ongoing consolidation and intense battles between bulls and bears at key levels.

In derivatives markets, institutional investors displayed clear risk management intentions. While prominent investor Dan Tapiero predicted Bitcoin could reach $180,000, he also warned of a potential 70% retracement risk. Data showed a 43% increase in open interest for December 2025 $98,000 put options and a 31% rise in March 2026 $80,000 puts, suggesting institutions are adopting defensive strategies rather than outright bearish bets.

Technically, Bitcoin remains above key support levels. The primary support is at $101,625, with psychological support concentrated at $100,000, while resistance lies between $105,200 and $105,340. The high-volume sell-off at 15:00 UTC confirmed resistance strength, while subsequent lower-volume rebounds indicate a sideways consolidation phase. The price has broken below the overnight uptrend line and recorded lower highs, oscillating between $101,700 and $102,000.

Short-term targets include a rebound resistance at $102,150, while a break below the $100,000 psychological level could trigger further declines toward $92,000. Overall, market sentiment remains cautious, with investors adjusting positions and using options to maintain a defensive stance amid potential uncertainty.