Bitcoin (BTC) has been trapped in a consolidation range, failing to break higher resistance as momentum stalls.
Currently hovering around $96K, this level has become a critical point for short-term holders (STHs), according to CryptoQuant analyst Shayan.
Why $96K Matters for Bitcoin
Shayan’s analysis points to $96K as the realized price for BTC’s 1–3 month cohort, making it a key support level in the current market structure.
Historically, BTC has used this level as support after an uptrend, signaling that STHs remain confident despite market fluctuations.
- Holding above $96K reinforces bullish sentiment, increasing the likelihood of an extended rally.
- Breaking below could trigger fear, shifting the market into a distribution phase, where investors start selling.
As Bitcoin moves closer to a decision point, traders are watching whether BTC can hold this level and push higher—or risk further decline.
Can BTC Stay Above $96K?
While Bitcoin lacks strong upward momentum, investor sentiment remains optimistic.
Key Bullish Indicators
- Declining Fund Flow Ratio – BTC transactions involving exchanges have dropped for three consecutive days, signaling an accumulation phase rather than mass sell-offs.
- Whale Activity – The Exchange Whale Ratio is decreasing, indicating that large holders are keeping BTC off exchanges, expecting further gains.
- NUPL Sentiment – Bitcoin’s Net Unrealized Profit/Loss (NUPL) remains in the belief/denial zone, meaning BTC is still in a bullish cycle with room for growth.
BTC Price Outlook: $100K or a Drop to $94K?
With investors accumulating BTC, bullish momentum could strengthen if BTC holds above $96K.
- A move above $96K could push BTC to $98,900, with a key resistance test at $100K.
- If BTC fails to maintain support, a drop to $94K is likely, potentially signaling further downside risk.
For now, $96K remains Bitcoin’s battleground, and its next move will set the tone for the short to mid-term trend.
