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Bitcoin surged and then pulled back to 87,000, signaling weak rebound momentum
【Crypto World】Bitcoin surged to $90,000 yesterday and then immediately pulled back, now stabilizing below $87,000. Market sentiment has also gradually shifted from panic to rationality. According to on-chain data analysis, this rebound appears to be more the result of short sellers rapidly covering their positions rather than new funds flowing in.
From a technical perspective, both Bitcoin and Ethereum’s price structures have entered consolidation phases. BTC is bouncing around the mid-$80,000 range, lacking a clear direction, while ETH is hovering around $2,930. Both major cryptocurrencies exhibit the same issue — during the rebound, momentum is noticeably insufficient, and there is no strong buying activity to confirm a trend reversal. Overall, the market is still in a wait-and-see stage, and a genuine breakout requires more robust fundamental support.