Bitcoin Price’s Rise To $100,000 Will Warrant A Pit-Stop At This Level
Bitcoin's current pullback is seen as a healthy retracement, with on-chain data suggesting reduced selling pressure before a potential move toward $100,000.Summary
Despite a recent pullback, Bitcoin's market structure remains constructive, appearing as a controlled retracement rather than a breakdown. On-chain data indicates that network-wide profitability has dropped below a historical stabilization threshold (69.1%), suggesting that weak hands are exiting and sell pressure is diminishing as more holders are underwater.
Furthermore, Long-Term Holder Net Unrealized Profit/Loss (LTH NUPL) is compressing, which historically signals that long-term holders slow distribution, supporting accumulation. Technically, Bitcoin is trading within an ascending broadening wedge; bulls need to reclaim $90,000 to confirm strength. A successful breakout targets $98,000, followed by a necessary consolidation around $95,000 before attempting the $100,000 milestone. Failure to hold current levels could lead to a retrace toward $84,698.
(Source：BeInCrypto)