Bitcoin is currently trading between $96,000 and $98,000, supported by significant buying activity from over 1.16 million BTC held in wallets. Despite a recent drop below $100,000 due to a hawkish stance from the Federal Reserve, 86% of holders remain profitable, with many continuing to accumulate BTC. Analysts warn that if Bitcoin falls below $96,000, it could drop to $90,000, while a bullish target of $110,000 remains in sight.