Bitcoin (BTC) struggles to break the $100,000 mark, a key resistance shaped more by investor positioning than price dynamics.
On-chain data shows that recent buyers and large holders are strategically limiting upward momentum, making this level a pivotal psychological and technical barrier.
Crypto Convicted data shows that newer Bitcoin whales hold an average cost basis near $100,500, creating a break-even zone that triggers selling pressure as BTC nears $100K.
Source: Crypto ConvictedTherefore, this makes the round number a magnet for short-term profit-taking and reinforces its role as a key resistance. The pressure comes amid a muted Christmas for Bitcoin, which slipped below $90K, cooling year-end market optimism.
The $100,000 zone is more than a price barrier; it’s shaped by investor positioning. While long-term holders remain steady, recent large-scale buyers can create selling pressure near their entry points, making a breakout contingent on strong demand.
Grayscale’s 2026 forecast, however, predicts a new Bitcoin all-time high in the first half of the year, noting that treasury activity is unlikely to impact prices significantly.
On the other hand, the $56,000 level is solidifying as a key long-term support zone. On-chain data shows that long-term holders, with cost bases well below current prices, are unlikely to sell during short-term swings, creating a natural buffer.
Together with resistance zones, this highlights how Bitcoin’s price is driven as much by investor psychology as by market mechanics.
Presently, Bitcoin is trading around $87,374 per CoinCodex data, below the critical $100K resistance. This level represents a convergence of recent buying and potential profit-taking, making it a key battleground.
Breaking above it will depend on whether new demand can absorb selling pressure, potentially triggering the next major leg in Bitcoin’s long-term growth.
Source: https://zycrypto.com/the-100000-wall-new-bitcoin-whales-exit-zone-threatens-rally/
