To be honest, Bitcoin's current position is quite tricky.

There are plenty of reasons on the bearish side: the moving average system is clearly suppressing the price, and the short-term trend doesn't look great. The MACD momentum is fading, indicating that selling pressure remains. On the macro side, the US core PCE price index is still pretty high year-over-year—rate cuts? The market doesn't really believe it now. As soon as the dollar strengthens, risk assets like crypto naturally come under a lot of pressure.

But the bulls aren't out of chances either. The 89,000 to 90,000 range has held up several times—this is a key support area. If it can hold, a technical rebound could happen at any time. On-chain data shows some funds are leaving, but open interest in futures is rising again—participation is picking up. Looking at a longer time frame, institutions are still buying in, and there are positive signals from the government level as well. The fundamentals are actually quite solid.

💎 What’s the play here?

Simply put, this is a sensitive moment with bulls and bears in a tug of war. Short-term traders can watch for support and resistance to do some high-frequency trading, but don't go heavy on positions and always use stop-losses. Thinking of going mid- to long-term? You'll need more patience—either wait for lower prices to accumulate slowly, or wait until a key resistance is decisively broken before chasing in.

High market volatility is the norm—always weigh the risks carefully before making any decisions.