As FOMO Spikes and Whales Exit, Bitcoin’s Top May Be In Sight

Bitcoin tests $98K resistance as Capo flags a local top and risk of short-term distribution. LTH profits near 350% at $99.9K, a level historically tied to cycle tops and heavy distribution. RSI nears 70 as whales withdraw $200M; Taker Buy Ratio spikes to 1.142 on Binance. Bitcoin’s strong rally from April’s $75,000 low might be at the risk of a halt as the $92,000–$98,000 resistance band stands strong. Popular market analyst Capo of Crypto warned in a recent post that the current levels may represent a local top and possible “LTF distribution.” “ Above $92k–93k → Bullish, but strong resistance at $96k–98k. Below $92k → Bearish, ” Capo noted, highlighting the high-risk, high-reward zone Bitcoin has entered. His chart further projects a potential “real capitulation event” if BTC is rejected from this resistance and fails to hold key support near $92,000. On-Chain Metrics: Long-Term Holders Near Peak Profit According to Glassnode , long-term holders (LTHs)—those holding BTC for more than 155 days—are approaching a critical profitability threshold. The latest report shows that the average unrealized profit for these holders will h… The post As FOMO Spikes and Whales Exit, Bitcoin’s Top May Be In Sight appeared first on Coin Edition .

Source: Coin Edition