Glassnode: Bitcoin Faces Strong Resistance at $97K as Selling Pressure Builds

$100K Breakout May Be Delayed as 392K BTC Sit at Break-Even ZoneAs Bitcoin eyes a potential breakout toward $100,000, new data from on-chain analytics platform Glassnode highlights a critical resistance zone at $97,000, where substantial selling pressure could emerge. In its latest report, Glassnode revealed that approximately 392,000 BTC are held by investors whose cost basis is clustered around the $97,000 level. These holders may be inclined to sell at break-even, creating a potential supply barrier that could slow or temporarily cap Bitcoin’s current rally. Cost Basis Cluster Creates Headwind Near $97K“If Bitcoin is to break through the $100,000 mark again, it still needs to overcome considerable supply-side resistance,” Glassnode stated source: https://www.binance.com/en/square/post/23308957396929?utm_source=BinanceNewsRSS