Bitcoin Hitting Resistance at $97,000: Could a Surge Follow?

Analysis from Glassnode on X suggests that Bitcoin needs to clear a major obstacle around $97,000 to potentially reach the $100,000 mark again. A closer look at cost basis distribution reveals a concentrated area with 392,000 BTC held in this specific region, making it a key point of resistance for investors. Some may choose to sell at this level, aiming for breakeven after their initial investment.