Bitcoin’s Path to $100K Faces a Major Threat—Here’s Why
Bitcoin’s recent rally has brought it tantalizingly close to $100,000, but a growing on-chain trend suggests that breaking this key level won’t be easy. Exchange reserves are rising, signaling that more BTC is being deposited into trading platforms—typically a sign that selling pressure is mounting.
📊 The Numbers Don’t Lie
Since February 6, BTC’s exchange reserves have increased by 1%, reaching 2.47 million BTC, according to CryptoQuant. Historically, when more Bitcoin flows into exchanges, it signals that holders are preparing to sell, which can cap price growth.
This trend has played out over the past 15 days, with BTC struggling to move beyond $98,663 resistance, while holding support at $95,650.
Whale Activity Plummets – A Warning Sign?
Adding to the concern, large BTC holders’ netflow has dropped 299% in the past week. When whales move BTC onto exchanges, it suggests institutional investors are taking profits, which can trigger a chain reaction of selling.
Key Levels to Watch
🔽 Bearish Scenario: If selling pressure intensifies, BTC could test $95,650 support. A break below this could send it toward $92,325.
🔼 Bullish Scenario: If demand rebounds, BTC must clear $98,663 before attempting to break $102,753. A successful move beyond this could target $109,356, last reached on January 20.
With exchange reserves rising and whale activity declining, BTC’s path to 100K remains uncertain. Will demand return, or are we heading for another pullback?
📊 The Numbers Don’t Lie
Since February 6, BTC’s exchange reserves have increased by 1%, reaching 2.47 million BTC, according to CryptoQuant. Historically, when more Bitcoin flows into exchanges, it signals that holders are preparing to sell, which can cap price growth.
This trend has played out over the past 15 days, with BTC struggling to move beyond $98,663 resistance, while holding support at $95,650.
Whale Activity Plummets – A Warning Sign?
Adding to the concern, large BTC holders’ netflow has dropped 299% in the past week. When whales move BTC onto exchanges, it suggests institutional investors are taking profits, which can trigger a chain reaction of selling.
Key Levels to Watch
🔽 Bearish Scenario: If selling pressure intensifies, BTC could test $95,650 support. A break below this could send it toward $92,325.
🔼 Bullish Scenario: If demand rebounds, BTC must clear $98,663 before attempting to break $102,753. A successful move beyond this could target $109,356, last reached on January 20.
With exchange reserves rising and whale activity declining, BTC’s path to 100K remains uncertain. Will demand return, or are we heading for another pullback?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.