Recently, Bitcoin touched around $98,000 but encountered the most aggressive selling pressure in weeks. As a result, the price was pushed back.

What does this indicate? Essentially, it shows that at the round number of 98,000, there are too many profit-taking orders and short positions accumulated. From a technical perspective, this is a clear resistance level, but from a psychological standpoint, it’s also a psychological barrier—many traders are waiting to sell at this price.

However, there is a noteworthy detail: the liquidity on both the buy and sell sides is currently still balanced, with no signs of obvious imbalance. What does this imply?

First, this is not a trend reversal signal. Although sellers have strength, it’s far from a "dominant" situation, and the market is still under control.

Second, this kind of pullback at a key price level is actually a normal adjustment during an upward trend, and it’s healthy. Early entrants are starting to realize profits, new funds and optimistic traders are stepping in here, and the market is "turning over" at this point, building momentum for the next move.

For those bulls who have been accumulating since the early lows of the year, the advice now is clear: consider taking profits in stages or all at once. Realized gains are what count, especially since this position already offers a good profit margin. As for whether the market will continue to rise or adjust further, let liquidity and trading volume tell us the answer.