Intotheblock: 1.6 million addresses bought 1.57 million BTC at an average price of $97,200

according to Intotheblock, 1.6 million addresses have accumulated 1.57 million BTC at an average price of $97,200, which is currently forming a resistance level. As these holders are currently in a loss position, they may choose to sell when approaching breakeven point, thereby increasing selling pressure in market uncertainty and making it more difficult for BTC to break through the upside.