Analysis: Bitcoin Hits Resistance at $100,000 as Investors Sell at Highs, Creating Overhead Pressure

According to Bloomberg, bitcoin's upward momentum has gradually faded following its summer rally, with prices currently pulling back to around $80,000. Investors face persistent selling pressure as they attempt to break through the $100,000 threshold. The cost basis for those who bought bitcoin over the past two years is concentrated at $87,000 and above. Breakeven selling pressure near this level has twice stifled bitcoin's rallies this year, each followed by a price drawdown of at least 25%.