Bitcoin Price Trading Within Key $93K – $100K Supply Zone

Bitcoin's price is showing signs of recovery after a strong two-week performance, with potential movement towards the crucial $100,000 level. Current on-chain data indicates the price is caught in a significant range which may influence its trajectory in the coming weeks.

Key Insights from Analysts

Analyst Checkmate notes Bitcoin is navigating between $93,000 and $100,000.
The supply distribution heatmap indicates high volumes of activity in this range, suggesting resistance due to investor sell-off at break-even points.
Beyond $100,000, there is lower supply, indicating less resistance above this threshold.
A breakout above $100,000 could initiate a strong upward rally, while failure to surpass the $93,000 - $100,000 range may lead to further consolidation.

As of now, Bitcoin's price is approximately $96,680, showing a weekly increase of over 2% with minimal movement in the last 24 hours.