Bitcoin’s climb above $90K faces a key test near $99.9K, where selling pressure could emerge. Long-term holders (holding ≥155 days), who bought at ~$22.2K, may cash in near 350% gains, a pattern seen historically. Meanwhile, investors who bought between $95K-$98K in early 2024, surviving the recent drop to $75K, might exit at breakeven to avoid losses, reflecting common trader psychology. Combined, these groups could create resistance, requiring strong demand (e.g., ETF inflows) to push higher. A breakout could target $109K, but failure may trigger consolidation. Market sentiment and institutional activity will determine if Bitcoin surmounts this hurdle or stalls.
