Bears Just WON the Battle at $98K, Here's What Happens Next

Bitcoin touched $98,000.

Then got REJECTED. Hard.

And the data behind this rejection is brutal.

On Wednesday, BTC set a local high near $98K. By Friday? Slipped below $95,000. Two straight days of bleeding while bears fought back with everything they had.

But here's what really killed the rally:

Spot traders ran out of gas.

The Coinbase Premium, the signal that tells you when US buyers are aggressively bidding, briefly flipped positive at the highs. That's supposed to mean "breakout incoming."

Instead, Price failed to break higher. No follow-through from the big buyers.

And it gets worse.

Short-term holders just DUMPED 40,000 BTC in a single day.

When BTC hit $94K on Jan 6? STHs sent 30,000 BTC to exchanges. When did it touched $97K? They dumped even MORE 40,000+ BTC in profits realized.

That's not accumulation. That's distribution at scale.

Material Indicators dropped the hammer: "Bears fought back HARD. Trend signals flipping on the daily."

Their warning? If BTC loses key trendlines, expect a deeper support test.

The good news? A reclaim above $97K invalidates the bearish setup.

But right now:

Open interest dropped alongside price (leverage flushed, no new longs stepping in)
Spot demand fading
Profit-taking is accelerating every time the price pumps

The question isn't IF $100K happens.

It's whether the bulls have enough ammo left to break through the wall the bears just built.

Watch $94K. That's the line in the sand.

Break it? Things get ugly fast.