Bitcoin is testing a critical resistance level at $111,600, with on-chain data revealing a concentration of approximately 140,488 tokens at this price point. This supply wall could significantly impact BTC's price trajectory in the coming weeks. The resistance level has emerged as a key battleground, following prior accumulation between $110,000 and $112,500, where around 434,000 BTC were last held. Currently, Bitcoin is trading between $102,000 and $110,000, reflecting a correction from its all-time high of $126,199. Technical indicators suggest potential volatility, with support at $109,208 and resistance extending to $115,600. The market sentiment remains cautious, as the Crypto Fear and Greed index has dropped to 27, indicating fear. Institutional activity, particularly from spot Bitcoin ETFs by BlackRock and Fidelity, continues to influence capital inflows.