Bitcoin Eyes $100K But Faces Key Resistance at $98K, Says Glassnode
Bitcoin (BTC) surged above $97,000 in recent days, driven by renewed bullish momentum.
However, the leading cryptocurrency has since retraced to around $94,000, as it struggles to break through the critical $98,000 resistance zone.
According to blockchain analytics firm Glassnode, BTC is at a pivotal decision point. For Bitcoin to continue its push toward the highly anticipated $100,000 milestone, analysts say two conditions must be met: the $95,000 support level must hold, and the price must post a daily close above $98,000.
Currently, 86% of Bitcoin’s circulating supply is in profit. While this typically signals bullish sentiment, Glassnode cautioned that historically, when more than 80–90% of supply is in profit, short-term holders often begin to take profits — leading to temporary corrections.
If Bitcoin fails to maintain its footing above $95,000, Glassnode warned that a drop toward the $85,000–$75,000 range could be on the table. For now, BTC remains at a crucial technical and psychological threshold, with traders watching closely for a decisive move in either direction.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
