IntoTheBlock: The short-term key resistance level for BTC is around $96,000

ChainCatcher message, IntoTheBlock analyzes the current market conditions based on the distribution of Bitcoin on-chain holding costs as follows:

In the short term, the key resistance level for Bitcoin is around $96,000, with approximately 1.66 million BTC currently in a loss position. Fear sentiment may prompt these holders to sell at breakeven prices, thus becoming resistance to the upward movement.