Where is the next resistance level after BTC breaks 100,000?
After Bitcoin breaks the 100,000 USD mark, the stock of Bitcoin on exchanges has decreased instead of increasing, indicating that people are more willing to hold rather than sell, and the market sentiment is very bullish right now.
On-chain data shows that a large amount of chips has accumulated in the range of 98,000 - 99,500 USD (30.9 million coins at 97,500 USD, 198,000 coins at 98,900 USD), and the number of chips that are trapped above is decreasing.
However, the 100,000 USD mark may need to experience a deep turnover, requiring a large amount of chips to be traded at high positions to consolidate support.
The next key resistance level for Bitcoin is at 106,450 USD, and attention can be paid to the subsequent turnover situation.
Currently, the market mainly relies on event-driven factors, with Trump's policies being the biggest barometer, while economic data and Federal Reserve monetary policy can only take a back seat.
After Trump announced the first trade agreement yesterday, the market changed instantly, confirming this point.
The market may fall due to the uncertainty of Trump's policies, but it may also surge due to his promotion of trade agreements and the easing of chip restrictions. I mentioned before that if it weren't for the turmoil of tariff policies, Bitcoin would have already reached new highs.
Therefore, paying attention to events will be more important moving forward. The progress of trade negotiations, the performance of economic data, and especially each of Trump's statements may trigger significant volatility.
