Bitcoin at Key Resistance: Cautiously Optimistic Amid Market Divergence
Bitcoin faces a pivotal moment as it hovers near key technical levels. Crypto Convicted notes its weekly 21 and 50 SMAs are in a crossover zone, raising death cross concerns.
However, robust institutional buying last week has eased short-term bearish pressure, underscoring market resilience amid growing $150,000 target optimism.
Well, the $101,500 level, aligned with the weekly 21 SMA, marks a key resistance, termed by Crypto Convicted as the ‘dividing line between bullish and bearish trends.’ A sustained break above could cement confidence in Bitcoin’s uptrend. Currently at $93,089 per CoinCodex data, BTC remains below this threshold but shows structural strength.
On-chain data shows long-term holders are accumulating, while miners maintain strong positions post-halving, easing supply pressure and signaling potential bullish momentum.
On the other hand, short-term indicators signal caution among retail investors. The Short-Term Holder SOPR (STH) shows increasing fear, with holders selling at a loss despite Bitcoin’s 2024–2025 uptrend of higher highs and higher lows.
Over the past 70 days, consistent retail selling has tempered market enthusiasm. Late last year, STH fell to 0.98, its lowest since November 2022, when BTC traded near $16,000, highlighting near-extreme fear. Meanwhile, Arkham reports large exchange outflows and circulating claims of 22,918 BTC sold.
Why does this matter? Well, Bitcoin sits at a pivotal juncture, with strong institutional accumulation and long-term holder resilience signaling a bullish foundation, while retail caution and short-term selling highlight lingering uncertainty.
Technical and on-chain data confirm structural strength, but investor psychology remains tentative. Crypto Convicted emphasizes the $101,500 resistance as a key level, its breach could trigger a surge toward new highs, while failure may lead to further consolidation. Monitoring both macro trends and short-term on-chain signals is crucial to anticipate Bitcoin’s next move.
Conclusion
Bitcoin shows a market in transition because strong institutional accumulation and long-term holder resilience support a bullish structure, but ongoing retail caution and short-term selling keep volatility high. The $101,500 resistance is a critical test, breaking it could spark fresh momentum, while rejection may extend consolidation.
Source: https://coinpaper.com/13861/bitcoin-stays-cautiosly-optimistic-waiting-for-101-5-k-break
