The Bitcoin price reached $98,000 on Thursday morning following an explosive rally that drove open interest up 7.2% in one day to $2.4 billion. The price rise has motivated investors but they stay watchful because market action remains within established limits.
Bitcoin retained part of its financial growth as it traded at $98,373 during this observation. The minor resistance point in the hourly trend is the key barrier BTC needs to conquer according to market analysts. Weak market demand makes everyone wonder if bitcoin can break out this time before crashing again.
Bitcoin Faces Repeated Rejections at Key Resistance Level
The analyst Ali Charts sees three rejections when BTC tries to cross past this falling trend line. Bitcoin makes another attempt to push past its resistance limit after the recent rally. When Bitcoin cannot exceed this barrier it creates fresh selling pressure in the market.
Throughout history when cryptocurrency prices attempted to reach this barrier area investors dumped their holdings to stop growth from continuing. When buyers stop showing interest Bitcoin faces a risk of reducing in value.
The continuing market rejection and decreasing demand make it hard for Bitcoin to reach $100,000 as a main goal. The reduced buying interest supports why BTC prices stayed unchanging. The Accumulation Trend Score shows large investors are uninterested in purchasing BTC because its current values.
Major investors show little interest in buying BTC throughout its present period. According to our records large entities stopped acquiring BTC during the period between October 2024 and January 2025. Bitcoin’s price rises from big investor buying activities during its history. When major investors stop buying BTC the current market pessimism strengthens further.
Bitcoin Faces Resistance at $99,350 Before $100K Breakout
CryptoQuant data shows that the strong BTC demand witnessed in December disappeared entirely by reaching only 70,000 units in demand. The decrease in demand results from increased inflation fears, overall economic worries, and possible selling of BTC due to FTX creditor obligations.
The forecasted BTC breakout above $100,000 may need more time because rising buying interest is missing. BTC Fear and Greed started showing “Greed” results following the price push above $98,000 due to market sentiment improvements.
Market strategist Budhil Vyas retains a positive stance on Bitcoin. The cryptocurrency will likely go up when it protects the key market areas. The $94,000 to $96,000 price range serves as a solid support point according to Vyas where sustained buying helps establish a strong bull run instead of a deep sell-off.
When Bitcoin moves back above support it will face $99,350 as the next buying obstacle. The market can push BTC price to reach $100,310 when support levels hold successfully. The market will make these price gains possible only when buying pressure rises in future trading periods.
Market participants cannot predict Bitcoin’s path ahead since chart patterns and market sentiment do not agree. Market participants will monitor if BTC can surpass its main obstacles or if selling pressure prevails again.
This news is republished from another source. You can check the original article here
