Recent fluctuations in Bitcoin's price highlight its struggle with resistance at a descending trendline after a surge to $98,000.
Bitcoin Faces Resistance at Trendline
Bitcoin recently soared to $98,000, reviving investor optimism. However, current price movements fail to match these high expectations, as noted by analyst Ali Martinez, who observes Bitcoin's struggle against a major trendline resistance.
Declining Investor Activity
The decline in investor activity is evident through data showing reduced interest from major market players in acquiring Bitcoin. The peak accumulation occurred from October 2024 to January 2025 before large investors began withdrawing from the market.
Apparent Demand for Bitcoin Decreases
According to CryptoQuant, the apparent market demand for Bitcoin decreased from 279,000 in December 2024 to 70,000 in January 2025. This demand reduction significantly impacts market price and may lead to consolidation.
The current Bitcoin market situation reflects decreasing interest from both major investors and visible market demand, posing challenges for Bitcoin to achieve new price levels, particularly surpassing the $100,000 threshold.
