Analysis: Bitcoin faced selling pressure after rising to nearly $98,000, with dip buyers from the beginning of the year potentially looking to take profits

BlockBeats News, January 18th, the encryption transaction index analysis platform CoinKarma published an article stating, "BTC rose to nearly $98,000 this week, but when approaching this price level, the market saw the most significant selling pressure in recent weeks, causing a slight pullback in price. However, the overall liquidity of both buyers and sellers has not shown a clear imbalance yet, remaining relatively balanced.

Other key market indicators have not shown a clear signal yet. Based on the current situation, long position holders who entered at a relatively low point at the beginning of the year may consider taking profits, choose to partially or fully close their positions, and wait for clearer signals before re-entering."