$BTC is pressing up against a critical inflection zone.

Price is hovering near $97K, just below the Short-Term Holder cost basis at $98.4K a level that often determines whether momentum accelerates or stalls. When recent buyers are underwater, supply tends to lean on price.

Zoom out and the picture looks far healthier.
BTC is holding comfortably above long-term benchmarks:
Active Investor Mean ($87.8K), True Market Mean ($81.1K), and Realized Price ($56.2K).

That’s not what structural weakness looks like.

This is a tactical fight, not a trend reversal.

A clean reclaim of $98.4K would flip short-term holders back into profit, typically easing sell pressure and allowing rallies to breathe.

Failure to do so keeps upside choppy, as fresh capital waits for confirmation before stepping in.

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