- Mid-term holders may trigger sell pressure as Bitcoin approaches the $96,100 level, a key realized price point.
- Bitcoin has surpassed short-term and medium-term cost bases, indicating rising confidence and fresh investor entry.
- Despite bullish momentum, on-chain data signals potential resistance and slowing strength, urging market caution.
The Bitcoin price has maintained a steady upward trajectory which puts it near an important price barrier that will dictate its upcoming major market movements. Analysis of current market data shows Bitcoin reaching $93,533.66 with a 5.91% growth while observers monitor its progress toward the $96,100 level. Latest price data shows that this level represents the last obstacle for investors holding their positions for the medium-term before Bitcoin could advance to $100,000.
Mid-Term Holder Activity Signals Potential Sell Pressure Near $96K
According to the chart by CryptoQuant,it presents a detailed breakdown of Bitcoin’s realized prices, segmented by holding durations—from short-term (0-1 days) to mid-term (3-6 months) and beyond. The realized price tracks the average purchase cost of all circulating tokens as a vital metric stored on the blockchain. This metric reveals how different groups of holders plan their actions based on profits.
The 3-6 month realized price, indicated by the pink line on the chart, sits just under $96,100. Holders currently holding Bitcoin have an opportunity to achieve an even break even point at this precise price level. The mid-term holders who bought Bitcoin during previous market highs might turn to profit taking when prices reach these levels which would create additional market pressure for sellers.
Short-term momentum rises as Bitcoin eyes $100K
The Bitcoin market price recently surpassed various realized price lines that correspond to different holding durations from daily to weekly and weekly to monthly periods as well as short-term holder cost basis thresholds.
Performing upward moves in the market signals that new investors with elevated price points have started entering while maintaining market confidence thus driving the ongoing rally.At $93,662.98, the current price has clearly outpaced the cost basis of short-term holders, suggesting short-term momentum is on the upswing.
The 24-hour range stretching from $88,081.58 to $93,777.44 demonstrates rising intraday volatility that might boost speculative activities if the price successfully surpasses the $96,100 level. This could unlock the way towards reaching $100,000 while decreasing resistance from Bitcoin holders.
Bitcoin nears resistance as momentum slows
On Tuesday Bitcoin achieved new 50-day peaks beyond $91,000. The $91K–$92K price range functions as an area of possible resistance based on CryptoQuant data. The Trader’s On-chain Realized Price stands as an essential metric for identifying market peaks and it corresponds to the $91K–$92K price zone.
The Bitcoin Bull Score Index signals that the robust 2023 price rally is undergoing potential weakening despite its current strength. Market indicators combined with price trends around the $70K mark signal that investors should exercise caution as the BTC price maintains its position above this threshold.
