Analysis: After Bitcoin rose to nearly $98,000, selling pressure emerged. Bulls who entered at the beginning of the year may consider taking profits

The cryptocurrency trading indicator analysis platform CoinKarma stated, "BTC rose to nearly $98,000 this Monday, but as it approached that price level, the market experienced the most significant selling pressure in recent weeks, causing a slight price pullback.

However, the overall liquidity between buyers and sellers has not shown a significant imbalance and remains relatively balanced. Other key market indicators have not yet shown clear signals. Based on the current situation, long positions entered at relatively low points earlier this year may consider taking profits, with the option to fully or partially close positions and wait for clearer signals before re-entering."