Whether BTC can continue to rise remains uncertain, with the current $97,000 becoming the focal point of bulls and bears.

Data from the past 6 months shows that $97,500 and $98,900 are two major resistance levels, with 309,000 BTC and 198,000 BTC accumulated respectively, and a breakthrough requires significant capital and FOMO sentiment;

If it breaks through $98,900, the resistance in the $101,100-$105,000 range is relatively small.

Below, $93,700-$94,700 has gathered 364,000 BTC, forming strong support, with the average cost of short-term holders around $93,500. If it falls below this, it may trigger a sell-off, with the next support level at $83,000.

Market volatility depends on capital flow and sentiment, with the Federal Reserve's interest rate meeting and Powell's speech on Thursday morning being crucial.

Although the possibility of a rate cut in May is low, Powell's dovish-hawkish stance will directly influence BTC's movement.