Bitcoin Faces Crucial $96.5K Resistance Amid Rising Open Interest and Easing Sell-Side Pressure
By: bitcoin ethereum news|2025/05/04 10:30:01
0
Share
Bitcoin’s price action continues to capture the attention of investors as it tests a critical resistance level amidst supportive market dynamics. Bitcoin’s recent surge brought its price to $96.5K, a pivotal resistance that may catalyze further price increases if successfully breached. Open Interest has seen a significant rise, indicating renewed interest without excessive leverage, suggesting a healthier trading environment. The latest movement in Bitcoin’s price indicates strong support for further growth as key metrics reveal bullish sentiment in the crypto market. Is supply-side pressure easing across exchanges? Bitcoin’s Exchange Reserve has dipped to $238.31 billion, marking a 0.67% decrease. This trend typically indicates that investors are withdrawing Bitcoin from exchanges, which can signal bullish sentiment due to diminished sell-pressure. Additionally, the netflow statistic at -4.33K BTC shows a noticeable shift towards outflows of 2.45% . These changes in supply dynamics suggest a growing trend of accumulation among investors, further stabilizing pricing conditions for Bitcoin. This alteration in reserve figures could offer a foundation for a bullish outlook, as fewer coins will be readily available for sale, enhancing price stability. Source: CryptoQuant Are Bitcoin users returning to the network in large numbers? The rise in active network engagement is underscored by the recent spike in Daily Active Bitcoin Addresses, now at 924.55K , marking one of the highest participation levels this year. This sharp increase not only reflects enhanced blockchain activity but also indicates strong user adoption beyond speculative trading. Historical data indicate that elevated active address counts often correlate with sustained bullish trends, reinforcing the positive narrative surrounding Bitcoin’s recovery. Should this momentum continue, it may solidify the on-chain strength driving the price rebound. Source: Santiment Is profitability returning without signaling overvaluation? Interestingly, Bitcoin’s profitability has shown signs of returning, with the MVRV Z-score rising to 2.42 , a notable rebound from prior lows in March. This metric indicates that while holders are experiencing increased profitability, the current values remain below historical danger zones typically associated with peak market tops. Consequently, Bitcoin appears to be in a favorable position, where profit-taking pressure is unlikely, thus allowing bullish sentiment to build. Such metrics portray a balanced market state, providing an environment where prices can elevate without triggering significant selling from over-leveraged holders. Source: Santiment Will Bitcoin break above the $96.5K barrier? Currently, Bitcoin is testing significant resistance at $96.5K , coinciding with the 0.236 Fibonacci retracement level. The prevailing price structure exhibits bullish momentum, with a clear uptrend from March lows. The RSI reading of 68.30 indicates proximity to overbought conditions, yet there is room for further upward movement. Should BTC convert the $96.5K-$97K range into support, it may set the stage for a breakout towards past highs. However, a failure to maintain levels above this resistance might lead to a period of consolidation before any subsequent moves. Source: CoinGlass Considering the positive increase in Open Interest, the decline in Exchange Reserves, and the rising network activity, Bitcoin’s current upward trajectory appears to be underpinned by strong fundamentals. The MVRV ratio further suggests that the market remains below overvaluation levels, while technical analyses indicate the potential for a breakout. Hence, Bitcoin is well-positioned to maintain its bullish momentum if it can effectively breach the $97K resistance zone in the forthcoming days. Source: https://en.coinotag.com/bitcoin-faces-crucial-96-5k-resistance-amid-rising-open-interest-and-easing-sell-side-pressure/
You may also like

The large models in the United States are moving towards closure in the name of security
The government successfully inserted itself as an approver between commercial AI models and their users for the first time.

Morning Report | CoinEx becomes a key hub for Iran to evade sanctions, involving over $3.8 billion in funds; Kalshi seeks a new round of financing, with a valuation potentially rising to $40 billion
Overview of Important Market Events on June 25

From the white-haired stock god to the billionaire fund mogul, the smart people shorting Nvidia are all getting rich using the same framework
Give up on heavily investing in Nvidia's "nine major bottlenecks"! This article analyzes the underlying logic behind top AI investors making billions: physical infrastructure such as electricity, HBM, and optical interconnects are the true keys to wealth in AI hardware.

Why do cryptocurrency projects always like to change their names?
In many cases, the old names of encryption projects have no competitive advantage, only historical baggage.

Global Launch: As predictions become the most scarce asset in the AI era, Manadia is defining the next generation of the value internet
The trusted AI prediction ecosystem Manadia, which has secured $7 million in funding from well-known institutions like OKX, will globally launch in June. The core token UMXM has already been listed on multiple mainstream platforms, inviting you to seize the new blue ocean of the trillion-level predi...

Who is footing the bill for the $64 billion accounting frenzy?
Affected by Bitcoin falling below $60,000, publicly listed companies heavily invested in this asset are facing huge paper losses and valuation discounts, and their debt structure and accounting standards may trigger structural liquidity risks in the future.

I never expected that the first application of AI x Crypto would be in security auditing
AI has accelerated attack efficiency and also promoted the upgrade of defense systems. The security audit sector is undergoing a transition from a dividend model to a competitive model.

What is your view on Binance's competitive advantages?
When the dividends of rule arbitrage gradually approach zero, can we produce product strength, governance capability, and trust that are commensurate with its scale?

ETH has entered a non-consensus phase, and the turning point is approaching!
This has nothing to do with the Ethereum Foundation or Ethlabs; Ethereum needs to win by solving real problems.

The shift in the cloud of the air: from despising stablecoins a year ago to the high-profile entry of capital today
It can continue to question the cost-effectiveness of stablecoins in the G10 currency corridor, but it cannot ignore the structural opportunities of stablecoins in emerging markets, corporate finance, and on-chain settlements.

The survival dilemma of small and medium exchanges behind the withdrawal anomalies exposed by AscendEX
The living space is constantly being compressed.

Why Is Bitcoin Falling Below $60K? 5 Key Market Drivers Explained
Bitcoin has dropped sharply amid ETF outflows, Strategy stock weakness, AI stock rallies, and changing Fed expectations. Explore the key forces driving BTC’s latest correction and what traders should watch next.

Bitcoin vs. Gold in 2026: Which Asset Performs Better in Different Markets?
Bitcoin vs. gold in 2026: Why are both assets falling, and what does their changing correlation mean? Discover what drives Bitcoin and gold prices and how traders can navigate different market conditions.

Morning News | The draft amendment to the People's Bank of China Law aims to clarify the legal status of digital renminbi; South Korea will transfer about 40 unregistered virtual asset service providers to law enforcement agencies
Overview of Important Market Events on June 24

The cryptocurrency industry has entered the "Show Me" era: merely relying on vision is no longer enough
The awareness level of the audience in the cryptocurrency industry—including media, institutions, and retail investors—is steadily increasing, and this trend has become a foregone conclusion.

Interpreting the Ethereum Foundation's new structure: Reaffirming self-sovereignty amid institutional trends
The Ethereum Foundation has announced a new five-layer working framework, clarifying the focus of future development and reaffirming its commitment to decentralized core values amidst the wave of institutionalization.

Former SpaceX engineer reconstructs the financial execution system using first principles
Plan Execution Lab completes angel round financing for Singapore family office, with a valuation of 50 million USD.

Standard Chartered Bank sings a 50x rhapsody again, aiming for AAVE to reach 3500 USD
The throne of DeFi lending still exists, but the foundation beneath the throne needs to undergo a reconstruction or reinforcement.
The large models in the United States are moving towards closure in the name of security
The government successfully inserted itself as an approver between commercial AI models and their users for the first time.
Morning Report | CoinEx becomes a key hub for Iran to evade sanctions, involving over $3.8 billion in funds; Kalshi seeks a new round of financing, with a valuation potentially rising to $40 billion
Overview of Important Market Events on June 25
From the white-haired stock god to the billionaire fund mogul, the smart people shorting Nvidia are all getting rich using the same framework
Give up on heavily investing in Nvidia's "nine major bottlenecks"! This article analyzes the underlying logic behind top AI investors making billions: physical infrastructure such as electricity, HBM, and optical interconnects are the true keys to wealth in AI hardware.
Why do cryptocurrency projects always like to change their names?
In many cases, the old names of encryption projects have no competitive advantage, only historical baggage.
Global Launch: As predictions become the most scarce asset in the AI era, Manadia is defining the next generation of the value internet
The trusted AI prediction ecosystem Manadia, which has secured $7 million in funding from well-known institutions like OKX, will globally launch in June. The core token UMXM has already been listed on multiple mainstream platforms, inviting you to seize the new blue ocean of the trillion-level predi...
Who is footing the bill for the $64 billion accounting frenzy?
Affected by Bitcoin falling below $60,000, publicly listed companies heavily invested in this asset are facing huge paper losses and valuation discounts, and their debt structure and accounting standards may trigger structural liquidity risks in the future.
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com

