Bitcoin faces resistance at $98K, testing key price levels for $100K push

Bitcoin's (BTC) price failed to break through the $98,000 resistance on May 3, with profit-taking limiting upward momentum, Cointelegraph reported. For a potential push to $100,000, Bitcoin must close above $95,000 on the daily chart. With 86% of Bitcoin's supply in profit, caution arises as historical data shows higher selling activity from short-term holders, suggesting potential corrections, according to data from Glassnode. Analysts highlight that Bitcoin is at a key decision point, with price action above $98,000 needed for bullish continuation. Failure to maintain support at $95,000 could lead to retesting lower levels between $85,000 and $75,000.