Bitcoin (BTC) broke below the $100,000 level a week ago, marking a significant correction as tensions played out between U.S. President Donald Trump and Tesla’s CEO Elon Musk. Despite the initial decline, Bitcoin experienced a rapid recovery, rising above the $110,000 mark following the second round of talks between the U.S. and China. The price reached a low of $95,600 in the process, with Bitfinex analysts warning that Bitcoin is currently near its previous ATH of around $111,900, with little fundamental support and a clear lack of long-term structural upward momentum.
The role of structural support and the presence of potential upside were highlighted in a recent report, with Bitfinex analysts emphasizing the importance of observing critical levels such as $103,700 (based on thespent supply allocation with a 0.95 quantile first support zone), $97,100 (short-term traders’ cost floor), and $95,600 (spent supply allocation with an 0.85 quantile first support zone). They warned that Bitcoin is currently at a tailwind, balancing between structural dominance and currently○gent bullish momentum, and awaiting macroeconomic cues as a potential late rally.
In总结, Bitcoin’s trajectory remains prospective, with little indication of a realfailed rally within the next few months. The price is surging upward but faces significant resistance and risk of short-term corrections, especially as long-term holders aim to safeguard their positions in the face of uncertainty.
