Bitcoin (BTC) Bull Market Nears Critical Juncture as Lost Coins Return, $97.1K Is the Line in the Sand

Bitcoin's (BTC) bull market is entering a critical juncture, with signs suggesting that a major turning point could be just around the corner.

As Bitcoin continues its bull run, reaching new all-time highs, several on-chain indicators are hinting at the next steps in this rally.

One key aspect to watch is the movement of lost coins, which could signal a turning point in the market.

Here's a closer look at these indicators and what they might indicate for Bitcoin.

Lost coins and their role in market cycles

The term "lost coins" refers to BTC that has remained dormant for years, typically held by early investors or large-scale鲸鱼 who either lost track of their assets or chose not to move them.

When these coins begin to move again, it usually indicates that long-term holders might be preparing to either take profits or adjust their positions.

According to crypto jargon, these coins are considered "lost" because they haven't been touched in a very long time — usually several years or more.

Historically, the reactivation of lost coins has coincided with major bullish phases, suggesting a potential shift toward the final leg of the bull run.

This phenomenon is evident in the data, which shows how lost coins are becoming active once again, a behavior that has consistently aligned with Bitcoin's most explosive price runs.

Over the past several months, Bitcoin's price has continued to climb, pushing toward new all-time highs. However, as observed in previous cycles, the final phase of a bull market is often accompanied by heightened volatility.

If previously inactive BTC holders begin selling in large volumes, this could introduce short-term downward pressure before the market resumes its upward trajectory.

A crucial support level: $97,190 and its significance

Crypto analyst Ali Martinez recently highlighted a crucial support level for Bitcoin, indicating that on-chain data reveals a massive cluster of BTC holdings at this key price.

According to the data, approximately 1.45 million addresses acquired BTC at prices ranging from $95,772 to $98,719, with a total volume of 138k BTC.

If Bitcoin manages to remain above this zone, the uptrend is likely to continue, as these holders are unlikely to sell at a loss, thus maintaining support at these levels.

However, if BTC breaks below this level, it could trigger a wave of selling pressure from these investors, leading to a steeper correction.

This makes $97,190 a psychological and technical level to watch in the coming weeks.

A closer look at Bitcoin's price chart reveals that BTC has been in a strong uptrend, with higher highs and lows on the price chart.

At press time, the king coin was trading at $100,733, encountering minor resistance in the $104,000–$108,000 range.

A clear breakout above these levels could lead to a new price discovery phase, with BTC potentially targeting $120,000 and beyond.

On the other hand, if Bitcoin struggles to break resistance and loses momentum, we could see a short-term pullback toward $97,190. A break below this level might test lower support zones around $92,000 and $88,000, where large buying interest exists.

For now, all eyes are on Bitcoin's price action as the market decides its next move.