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Gate ELSA Futures Trading Challenge is Now Live!
Share a 200,000 USDT Prize Pool
💰 Get 20 USDT for your first futures trade
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join now: https://www.gate.com/campaigns/3911
Announcement link: https://www.gate.com/announcements/article/49432
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Details: https://www.gate.com/announcements/article/47889
BITCOIN DIDN’T FAIL AT $98.4K. IT RAN INTO SELLERS\n\nSTH cost basis briefly reclaimed → instant rejection.\n\nWHY?\n3–6 month holders.\nAvg cost: $112.6K.\nStill deep underwater.\n\nThey’re selling every push to cut losses.\nRealized losses rising.\nMomentum capped.\n\nThis isn’t a technical ceiling.\nIt’s behavioral resistance.\n\n$BTC doesn’t break out\nuntil this cohort finishes exiting.\n\nPrice waits for people to capitulate.