Crypto markets are currently in a state of consolidation for most tokens, including Bitcoin. After recent price movements, this phase signals potential accumulation of bullish strength that could lead to a significant upward surge if the price breaks through resistance at around $105,000. This level has triggered pullbacks in the past few days, leading to questions about whether breaking it will send the price straight towards a new all-time high or if we’ll see another period of consolidation just below the recent highs. 2023 witnessed a significant shift in market dynamics, with institutions taking on a dominant role within the crypto space. While retail trader activity has shown low interest and trading, institutional investors like BlackRock and Strategy are accumulating massive Bitcoin holdings (over 500K BTC). These heavy investments could potentially boost the price rally significantly. The current price seems to have hit a local resistance at $105,000. Breaking this level could lead to an immediate market liquidating millions of existing short positions. On the other hand, some significant longs have also accumulated below $102,500, meaning breaking this level might push prices lower while holding above the psychological barrier of $100K.