Bitcoin is still winding its way toward $100,000, but it will not be easy. Positive trends might occur on Friday nights, but weekends are currently tranquil and price stops moving. At $97,700, the cryptocurrency appears to be in a holding pattern. The market is not just hesitating; this sideways movement is part of a bigger battle between determined buyers and cautious sellers, who are all keeping a close eye on the important $96,000 zone. Who leads determines what happens. However, Bitcoin is on the cusp of a breakthrough or breakdown, and stress is mounting every hour.
The Weight of the $96K Support Zone
Bitcoin is holding at $96,365 due to strong support. Many gamers risk their money here. On-chain measurements show 1.97 million addresses have gathered over 1.4 million BTC in this pricing range. That much buying power provides a buffer, so these holders are unlikely to sell immediately. If the price drops back to this level, many will double down to resist selling. This makes $96K a sturdy floor unlikely to fall without a good test. It is not only about charts and lights; investors want to preserve their turf.
Climbing the $98K Resistance Wall
The range of $96K is a strong support, and the ceiling near $98,467 is a tough barrier. The somewhat submerged zone has 1.16 million addresses over $97,650. If Bitcoin rises, many of these people may sell and receive their money back, especially after weeks of stagnation. That huge number of sales could stop any efforts to recover, making bulls push even harder. Bitcoin must clear this region, not merely tap and reject it, to reach six digits.
Price Caught Between Intentions
The narrow support-pushback gap is causing tension. Bitcoin has limited growth potential. Every step feels like a tug-of-war between sellers wanting out and owners wanting in. The sideways movement may feel uneventful on the surface, but underneath, pressure is rising. This band breaking apart or down might cause a wider movement. Markets will remain tight until then, waiting for a move.
Conclusion
As purchasers avidly analyze the charts, Bitcoin is nearing a turning point. The $96K-$98K gap cannot persist forever. A decisive decision might set the tone for weeks. Breaking or reloading resistance shows the market is ready for another $100,000 fantasy. Bitcoin is still delicate, tense, and full of potential.
