$100,000 for Bitcoin is definitely a critical milestone. Even Tom Lee has adjusted his forecast, lowering it from $250K to 'maybe hitting a new high,' which shows the market pressure is significant. Around this price level, 71% of BTC circulating supply is still in profit, and the selling pressure mainly comes from long-term holders. More importantly, $100K represents the historical fair price line—the average premium of BTC relative to its average purchase price. Historical data shows that in the previous two cycles, if BTC repeatedly bounced back after falling below the fair price line but failed to hold, it often entered a deep bear phase.