Analysis: 1.6 million addresses once bought 1.57 million BTC at an average price of $97200, forming resistance levels

According to BlockBeats, on February 12th, Intotheblock revealed that 1.6 million addresses had purchased 1.57 million BTC at an average price of $97200 and are currently forming a resistance level. Due to these holders currently being in a loss making state, they may choose to sell near the breakeven point, thereby increasing selling pressure in the market uncertainty and making BTC's upward breakthrough more complex.