Bitcoin encounters resistance around 98K, with spot buying volume noticeably shrinking. In this wave of market movement, signs of long-term profit-taking are becoming increasingly evident, causing the price to fall back below 95K. From exchange data, the premium on a major platform shows signs of retreat, while the CVD indicator exhibits divergence—often a sign of weakening buying strength. Another point worth noting is that over 40,000 BTC have recently experienced transfers or liquidations, and open interest is also decreasing simultaneously. These details collectively point to the same conclusion: market sentiment is cautious. The key to subsequent actions is clear—if Bitcoin can regain and hold above 97K, there is reason to turn optimistic. Until then, cautious observation remains the safest choice.