$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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