Bitcoin is currently trading at about $95,000, and the Bulls struggled to recoup the price increase after a surge last week. BTC has been consolidating resistance levels below $96,000, and the next few trading sessions may determine if there will be a decisive breakthrough or collapse.
Market sentiment remains cautiously optimistic, but risks are getting bigger. If Bitcoin fails to push up and lose the $90,000 support zone as soon as possible, analysts warn that a sharp decline toward lower levels will soon develop rapidly. Holding a stake above $90K is critical to maintaining bullish momentum and preventing deeper corrections in the short term.
The data on the chain adds an interesting layer to the current market dynamics. According to Intotheblock, the number of active Bitcoin addresses soared sharply yesterday, reaching more than 800,000. Although still below the all-time high, this surge marks a significant increase in activity, which is often an early indicator of growing market demand and growing participation of traders and investors.
With the BTC coils in a narrow range, now everyone is concerned about whether buyers can step in enough strength to recoup the 96K level, or whether the selling pressure will control and drive price down.
Bitcoin stalls below $9.6K, chain activity will increase
Bitcoin is now trading at a critical turning point, and after returning to strong last week, it hovered under $96,000 resistance. The Bulls regained short-term control after a 12% surge, but that momentum appears to be fading away without a significant breakthrough of more than $96,000. To confirm the real joy phase and expand the rally, BTC must decisively violate the $100,000 level. Before this, there was still scope and uncertainty in price action.
Despite the pause, Bitcoin still shows signs of resilience. Health retests in the demand zone are between $90K and $92K, enhancing bullish sentiment – at least for now. If these levels continue to act as support, a higher push remains on the table.
However, macroeconomic headwinds still exist. Geopolitical tensions, particularly the unresolved trade conflict between the United States and China, and concerns about a potential global recession, have had a big impact on risky assets. Negative macro surprises may quickly make Bitcoin’s upward trajectory stand out.
Nevertheless, an encouraging signal comes from the blockchain itself. Intotheblock data shows that Bitcoin’s network activity has increased again, with the number of valid addresses soaring by 800,000 yesterday.
Although still below the peak level, this spike suggests a possible return on reengagement and retail benefits – the historical signal that combined with strong price action. The next few days will be crucial. Will the Bulls regain their momentum and move towards $100,000, or will external risks trigger a deeper pullback?
BTC price action consolidates lower than resistance
Bitcoin is currently trading at $94,900 after a few days of fixing between $92,000 and $96,000. This tension puts traders on the edge as the Bulls try to maintain momentum as market participants await decisive moves. Now, the key for the Bulls is to go beyond this merger zone and head towards a psychological milestone of $100,000, which suggests a wider rally.
However, if there is no strong breakout above $96K, the move could lose steam and may still be scoped in the near term. The lack of catalysts (whether macroeconomic or technological) may lead to the continued action of horizontal action and increase the volatility of this narrow band.
On the downside, if BTC loses support at $91,000, it could drop to $87,500 area, while the 200-day moving average and previous demand areas converge. This level will be a key support test and can define whether the current trend remains bullish or moves to the corrective phase.
Overall, BTC is still at a crossroads: a breakout of more than $96,000 may reignite momentum, while a collapse below $91,000 may force deeper levels to retest and challenge the current bullish narrative.
Featured images from DALL-E, charts from TradingView
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