Bitcoin Price Analysis: Strong Resistance Expected as Accumulation Peaks Between $96,000 and $98,000

COINOTAG News reported on February 28th that data analytics platform Glassnode identified significant accumulation activity in Bitcoin within the $96,000 to $98,000 price range from late December 2024 through February 2025. According to their analysis, while certain addresses are engaged in redistribution of BTC at these levels, the overall supply remains notably concentrated. Should the market return to this price zone, it is anticipated that this accumulation area could act as a formidable resistance level. Such insights highlight the persistent interest and strategic positioning among long-term Bitcoin holders, indicating a potential battleground for price action going forward. Market participants should closely monitor this zone as it could significantly influence future price dynamics.