Bitcoin Faces Strong Resistance at $99,900

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Coinlineup2025/05/07 20:33

By:Coinlineup

Key Takeaways:

Bitcoin nearing $99,900 resistance with holders increasing accumulations.
Potential selling pressure might increase as resistance nears.
Institutional sentiment cautious as Coinbase Premium Gap drops.

Bitcoin Approaching Critical Resistance Level

Bitcoin is approaching a critical resistance level at $99,900, as analyzed on May 7, 2025, while holders increase their accumulations.

This trend is significant due to possible selling pressure at $99,900, influencing Bitcoin’s next movements and testing market resilience.

Bitcoin’s approach towards the $99,900 resistance reveals insights into the market’s psychological and technical thresholds. Market watchers keenly observe accumulation patterns amidst potential resistance-driven selling behavior.

“Long-term holders typically begin distributing tokens more actively when they realize approximately 350% unrealized profits.” — Pedro de Lima, Analyst, Glassnode

Long-term holders play a crucial role as Bitcoin nears a major psychological barrier. These holders accumulate while potential profit strategies emerge near the $99,900 threshold.

Concerns arise as 88% of Bitcoin supply remains profitable , hinting at a strong market stance. However, the Coinbase Premium Gap decline suggests cautious institutional positioning.

A resistance breakthrough might propel Bitcoin beyond $100,000 , evoking both optimism and caution. Historical trends suggest precedent occurs before setting new thresholds, with bearish MACD signals present.

Insights into Bitcoin’s position hint at potential technological and market developments . Historical performance, coupled with current on-chain metrics, outlines pivotal directions, emphasizing both broader technological adoption and regulatory adaptation .

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Bitget VIP•2025/05/09 07:32