Approaching $100K, Bitcoin's Price Could Break Records: Why This Occasion May Be Unique

As Bitcoin approaches the $100K mark, on-chain data from Sentora indicates that the cryptocurrency could climb significantly higher if it breaks through this barrier, due to the absence of substantial sell pressure. A mere 3% of the total Bitcoin supply was bought at this level, suggesting that sell-side pressure could be relatively contained.

However, there's a potential resistance at $101,673, where 81,910 BTC was bought. On the flip side, a strong support has formed at $94,719, with 195,320 BTC accumulated at this level. As Bitcoin's market price grapples with the $100,000 mark, its realized cap has hit a new all-time high.

The crypto community is eagerly watching to see if Bitcoin can finally surpass this milestone.