Bitcoin Stays Above $95,000, But the Real Test Begins Now
Bitcoin reclaimed $95,000, but now faces a major test against heavy overhead supply between $98,000 and $110,000.Summary
Bitcoin has recovered recent losses, pushing back above the $95,000 level to reach a two-month high, yet the real challenge lies ahead. The cryptocurrency is now approaching a significant resistance zone between $98,000 and $110,000, which contains a dense cluster of coins acquired by long-term holders during previous peaks, creating persistent sell pressure.
Analysis of the Long-Term Holder Cost Basis Distribution Heatmap shows that past rallies have stalled in this range due to distribution from these holders. While the rate of profit-taking by long-term holders has slowed compared to prior cycle peaks, absorbing this overhead supply is crucial for a durable trend reversal. The broader context shows that sustained trading above the True Market Mean near $81,000 supports a constructive macro outlook.
Currently trading around $96,302, Bitcoin needs strength to break $98,000. If demand fails to absorb the supply, the price could slip back below $95,000 toward $91,471. Conversely, if distribution dries up, BTC could challenge $100,000, opening a path toward $110,000.
(Source：BeInCrypto)