Bitcoin's price rally toward $95,000 has enabled many investors, particularly short-term holders, to return to profit after experiencing unrealized losses. This positive trend increases the likelihood of Bitcoin reaching the $100,000 mark. Long-term holders have accumulated an additional 363,000 BTC since February, accompanied by fresh capital entering the market in April. However, Bitcoin faces significant sell-side risk at the $97,000 level due to approximately 392,000 BTC held by investors at that average price. Analyst insights suggest the last major resistance is at $96,100, where many short-term holders may decide to sell at break-even. Despite this resistance, market activity indicates confidence, with traders observing a Wyckoff reaccumulation pattern that could lead to targets of $131,500, $144,900, and $166,700. Overall, while the market shows bullish tendencies, traders remain cautious of potential sell pressure around key price levels.

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