Analysis: Bitcoin encountered selling pressure after rising to nearly $98,000. Long positions entered at the beginning of the year's lows may consider taking profits.

According to Mars Finance, on January 18th, CoinKarma, a cryptocurrency trading indicator analysis platform, published an article stating, "BTC rose to nearly $98,000 this week, but when it approached that price level, the market experienced the most significant selling pressure in recent weeks, causing a slight pullback. However, overall liquidity between buyers and sellers has not yet shown a significant imbalance and remains relatively balanced. Other key market indicators have not yet shown clear signals. Based on the current situation, long positions entered at relatively low points at the beginning of the year may consider taking profits, choosing to close all or part of their positions, and waiting for clearer signals before re-entering the market."