Evaluation of Bitcoin's Value: BTC Nears $97K Barrier Despite Looming Caution Signs

Bitcoin is currently experiencing a strong resistance at the $97K mark, indicating a clash between buyers and sellers. Following its impressive surge past the significant $90K point, Bitcoin reached the $97K resistance area. However, the bullish trend is facing a temporary standstill at this crucial stage, with the price finding it hard to surpass it.

The recent stagnation around $97K shows the existence of supply and a distinct struggle between buyers and sellers. Moreover, the 100-day moving average falling below the 200-day one - forming a 'death cross' - could denote a weakening momentum. Bitcoin, given the existing structure, seems ready for a short-term corrective pullback or consolidation towards the $90K region prior to a possible breakout above the $97K resistance.

Analysis of the futures market metrics as Bitcoin consolidates at this key level offers valuable insights.