Bitcoin has been fluctuating at high levels over the past couple of days, dropping to around 90,635 in the morning to find support, then rebounding somewhat. It is now hovering above 91,300, with a 24-hour decline of approximately 2.22%.

To be honest, after a wave of gains at the start of the new year, those who took profits have already done so. This correction is actually quite normal. The 92,000 level has now become a psychological resistance, with many large orders stuck there, making it quite unlikely to break through in the short term. On the other hand, there are quite a few bottom-fishers waiting around 90,600, giving the market some buffer.

Long-term institutional bullish logic remains unchanged, but the market's focus has shifted to upcoming CPI and non-farm payroll data—these economic indicators often trigger chain reactions. So, the key in the near term is whether these support levels can hold. If 90,600 gives way, the situation could become more complicated.