Bitcoin (BTC) continues to show strong bullish momentum, inching closer to a potential new all-time high. However, on-chain data suggests that $97.5K is a major resistance level, which could determine whether BTC sees a parabolic rally or a sharp rejection.
With whale activity, exchange reserves, and supply dynamics shaping the market, can Bitcoin break through this level and surge past $100K? Let’s dive into the data.
Bitcoin’s Current Market Landscape
🔹 BTC Price: ~$93K (fluctuating near key resistance)
🔹 Market Sentiment: Greedy, with increasing bullish bets
🔹 On-Chain Data Signals: Strong whale accumulation, but resistance ahead
🔹 Institutional Demand: Bitcoin ETFs continue to see inflows
Bitcoin has already surged past major resistance levels, but $97.5K is emerging as a critical barrier. On-chain analysis suggests that this level is where large amounts of BTC were previously bought, meaning many holders may look to take profits here.
Key On-Chain Metrics Highlighting Bitcoin’s Resistance
1. Exchange Supply & Selling Pressure
📉 Bitcoin exchange reserves remain near record lows, indicating that investors are holding, not selling.
However, whale activity near $97.5K suggests a potential supply overhang—meaning that some large holders might offload BTC at this level, creating resistance.
🔹 If BTC demand outpaces this selling pressure, we could see a breakout past $97.5K.
🔹 If selling pressure dominates, a pullback to lower supports is likely.
2. Realized Price Distribution – Many Holders at $97.5K
Data from Glassnode reveals a large cluster of BTC was previously bought near the $97.5K zone.
🔹 Why is this important?
When Bitcoin retests a price level where many investors previously bought, those who held through volatility might sell to break even.
🔹 What’s the impact?
If enough BTC holders sell at $97.5K, it could trigger a temporary rejection before another leg up.
3. Whale Activity & Long-Term Holders
🐋 Whale accumulation remains strong, with large wallets continuing to buy BTC on dips.
🔹 Long-term holders (LTHs) are not selling aggressively, a positive sign for BTC’s long-term trend.
🔹 If whales continue accumulating near $90K, Bitcoin’s supply squeeze could push it past $100K.
Can Bitcoin Break $97.5K? Key Levels to Watch
📍 Immediate Resistance: $97.5K – The most crucial level identified by on-chain data.
📍 Breakout Target: $100K – A psychological barrier that could trigger massive FOMO.
📍 Support Levels: $90K and $87K – If BTC faces rejection, these levels should act as strong support.
| Key Level | Type | Significance |
|---|---|---|
| $87K – $90K | Support | Strong buying zone if BTC dips |
| $97.5K | Resistance | Key on-chain resistance level |
| $100K | Psychological | Breakout level that could trigger FOMO |
What’s Next for Bitcoin?
🚀 Bullish Case:
- If BTC breaks above $97.5K with strong volume, it could trigger a rally past $100K and set a new price discovery phase.
⚠️ Bearish Case:
- If Bitcoin faces strong resistance and fails to break $97.5K, it could see a pullback toward $90K before another attempt.
Final Thoughts: BTC’s Path to $100K
Bitcoin is on the verge of a major breakout, but on-chain data highlights $97.5K as a critical resistance level. If BTC can flip this level into support, the road to $100K+ looks inevitable.
📊 Will BTC smash through resistance or face a temporary rejection? Let us know your thoughts! 🚀
4o
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