Bitcoin Price Faces $95K–$97K Test as Glassnode Flags Next BTC Resistance Zone

BTC/USD — cautiously constructive, but the $95,000–$97,000 zone is a meaningful supply and positioning test. The rebound has reclaimed the reported True Market Mean near $77,000 and a long-term-holder cost-basis cluster around $84,000–$85,000. Modest realized profit-taking, stronger spot volume and renewed U.S. spot-ETF inflows support the view that demand has improved rather than the rally being driven solely by sellers stepping aside.

The next zone matters because the mean MVRV price near $96,700 coincides with concentrated options positioning. That could attract profit-taking or dealer hedging that checks the advance; a sustained move through the band, supported by spot buying, would strengthen the case that demand can absorb overhead supply. The article also flags rebuilding derivatives leverage, which raises the risk of sharper swings in either direction.

Bearish counterpoint:

failure to hold $84,000–$85,000 would weaken the recovery and put the reported $77,000 area back in focus. Traders should watch whether ETF flows and spot volume persist, whether price holds above the reclaimed cost-basis zones, and how BTC behaves around $95,000–$97,000. The on-chain and flow signals are supportive, but they do not by themselves confirm a durable trend change.