Bitcoin is struggling to break the $98.4K level due to sell-side pressure from holders who have held the cryptocurrency for 3-6 months, with an average cost basis of $112.6K. These holders have increased their spending, realizing losses and adding pressure on Bitcoin's upward momentum. As a result, Bitcoin has entered a consolidation phase, characterized by low trading volumes and easing spot pressure. The cryptocurrency also experienced intraday volatility, influenced by geopolitical headlines and comments from U.S. President Donald Trump. Bitcoin's price fluctuated significantly, starting near $88,000, briefly surging above $90,000, and then sliding back to the $87,000 range. The price rebounded after Trump announced a delay in planned trade tariffs, regaining the $90,000 level. Amid these developments, ARK Invest CEO Cathie Wood suggested that Bitcoin might be nearing the end of its current down cycle, potentially marking the shallowest four-year drawdown in its history. However, market uncertainties persist as traders continue to monitor geopolitical and economic factors.