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

According to Intotheblock, 1.6 million addresses have purchased a total of 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 state, they may choose to sell when close to the break-even point, thereby increasing selling pressure amid market uncertainty and making it more complicated for BTC's upward breakthrough.