Summary
- An analysis suggests that Bitcoin needs to surpass the $97,000 resistance level to break through $100,000.
- Glassnode reported that 392,000 BTC were purchased at that price level.
- Bitcoin is trading around $94,000, and analyst Ali Martinez noted that the average cost of short-term holders could become a strong resistance level.
Bitcoin (BTC) needs to break through the $97,000 resistance level to reach $100,000, according to an analysis.
On the 23rd (local time), Glassnode stated on X (formerly Twitter) that "Bitcoin needs to surpass the $97,000 resistance level to break through $100,000," adding that "approximately 392,000 BTC were purchased at that price level."
Ali Martinez, a virtual asset analyst, also presented a similar analysis. He mentioned on X that "Bitcoin is trading near the average purchase price for this year (around $94,000)," and "the average cost of short-term Bitcoin holders could turn into a strong resistance level."
As of 7:26 PM, Bitcoin is trading at $93,599 on the Binance USDT market, up 5.93% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
![[Key Economic & Crypto Calendar for the Week Ahead] US December PCE Price Index, and More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
![[Analysis] "Binance’s XRP holdings fall to a two-year low…a signal of easing sell-side pressure"](https://media.bloomingbit.io/PROD/news/ddf35c9e-c582-4b4d-95b6-0c5b1673198d.webp?w=250)
