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<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin’s on-chain data suggests a local bottom at $90K, but breaking $99K requires solid groundwork.</li>
 <li>Increased adoption and strategic investor activity are helping to counteract downward pressure.</li>
</ul>
<p>Bitcoin’s on-chain data has indicated a “local” bottom at $90K, but breaking through the $99K mark will require solid groundwork. This comes amidst macro volatility and a slight rise in U.S. inflation, which has caused some concern in the stock markets.</p>
<h2 id="bitcoin-s-resilience-amidst-economic-uncertainty">Bitcoin’s Resilience Amidst Economic Uncertainty</h2>
<p>In contrast to U.S. indexes, <a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> [BTC] has shown resilience, climbing over 4% to close at $95,883. This rebound comes after four consecutive days of losses following its record high of $99,317. The asset’s resilience amid increasing economic uncertainties, particularly fears of rising consumption costs due to high tariffs, is notable.</p>
<p>The price action, just before Thanksgiving, has sparked speculation that U.S. investors may sustain their trading appetite to push BTC back to $99K. However, this bullish hypothesis awaits confirmation from convincing on-chain data.</p>
<h2 id="on-chain-data-signals-bottom-formation">On-Chain Data Signals Bottom Formation</h2>
<p>With the “Trump trade” settling, approximately one million BTC, acquired at an average price of $93,447 by 917K wallets, are banking on bullish on-chain data to validate their commitment to the $100K target. Bitcoin’s resilience amid inflationary pressures suggests a potential bottom forming near $90K, a level briefly tested as short-term holders offloaded their positions.</p>
<p>This could create a strong baseline for fresh FOMO, potentially incentivizing long-term commitment and setting the stage for a new rally. Three days ago, negative net flow triggered significant activity from retail investors, with over 13K BTC being accumulated at an average price of $91K.</p>
<p>Large players also seem to have expressed gratitude for the year’s rally this Thanksgiving, with over 20K BTC withdrawn. This contributed to the price rebounding within the $96K band. Together, retail and institutional investors have strategically targeted the recent “dip” to $90K, driving a notable uptick in adoption.</p>
<p>However, while a bottom may have formed, it’s important to note that this could represent a “local” bottom rather than a true “market” bottom. A reversal remains a possibility unless Bitcoin shows similar activity at price levels historically seen as “high-risk,” like the $99K level, where strong resistance still exists.</p>
<h2 id="99k-resistance-requires-both-micro-and-macro-support">99K Resistance Requires Both Micro and Macro Support</h2>
<p>BTC’s on-chain data shows strong support at $90K, with investor reactions likely preventing further declines and establishing a local bottom for a potential rebound. As a result, Bitcoin is back in the $96K range, restoring net profits after wiping out gains made during the final trading days of the election cycle.</p>
<p>In the coming days, monitoring these on-chain datasets will be crucial to determine if BTC can hold steady within the $95K to $97K range. This stability could pave the way for further upside to $99K, where significant activity is expected.</p>
<p>To begin with, the 256.92K addresses holding around 208K BTC acquired at an average price of $98,309 will be ‘in the money’. What they do next will play a crucial role in shaping Bitcoin’s price action. Secondly, both “anticipation” and “execution” will play critical roles. While few may expect a breakout above $100K, driven by social media hype, others will likely begin executing their exit strategies, as seen in recent market behavior.</p>
<p>Thus, the responsibility of establishing $99K as a new bottom will fall on both on-chain data and broader macroeconomic trends. In a recent survey, traders increased their bets that the Federal Reserve will lower rates by 25 basis points at its December meeting. The market is now pricing in a 64.7% chance of this happening, up from 55.7% just a week ago.</p>
<p>This shift could provide a solid foundation for BTC to break the $100K mark. This is especially true if combined with bullish on-chain data, including whale activity, institutional inflows, and long-term holder commitment at the $99K price point.</p>

Bitcoin Bounces Back to $96K: Indications Show Potential to Reach $100K

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CoinEagle.com

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