The price of Bitcoin has entered a phase where volatility ceases to be a threat and begins to become an opportunity. Despite the recent declines, the star asset of the crypto market is showing a powerful combination: undervaluation on-chain, solid technical defense, and a return —albeit moderate— of institutional flow.

This mix has historically served as a precursor to strong bullish impulses.

🔵 1. The Level of $90,000: Much More than a Round Number

In recent days, BTC has successfully defended the psychological zone of $90K, even after shakes that took it to $88–89K.

But this level is not important just for being an emotional support: it is the current equilibrium point between strategic buyers and exhausted sellers.

When the market holds this type of 'stable base', it usually indicates:

Real interest from buyers with a medium-term vision.

Willingness to halt deep corrections.

Fertile ground for future rebounds.

In this scenario, the immediate focus is on $94,253, a crucial technical target based on the 61.8% Fibonacci retracement.

🟢 2. ETFs are Back: A Signal That Doesn't Go Unnoticed

For the first time since mid-November, Bitcoin ETFs recorded net inflows again, reaching $75.4 million.

Although it's not an explosive figure, it does mark something essential:

📌 Systematic selling pressure is weakening.

📌 Institutional interest is starting to awaken timidly.

And when institutions return, even in small doses, subsequent market movements tend to have greater stability and projection.

🟣 3. 30-Day MVRV: The Value Thermometer Indicates 'Opportunity'

The 30-day MVRV indicator fell to -8.95% (previously -11.61%), placing short-term holders at an average loss.

Historically, this occurs just before strong rebounds, as:

Investors stop taking profits and stop pushing the price down.

More strategic volume enters, attracted by 'discount' levels.

Temporary floors of high reliability are formed.

In short:

🔍 Bitcoin looks cheap for many, both technically and on-chain.

🔻 4. But Not Everything is Rosy: Recent Traders are Underwater

Glassnode warns that the break of $97K left many recent buyers at a loss.

This creates a delicate environment:

Higher likelihood of sales due to fear.

Market structure more sensitive to any correction.

Need for time or greater institutional flow to absorb supply.

This is the point where the experience of traders weighs more than ever: maintaining calm amid the noise.

🟡 5. The Current Technical Scenario: Between Stabilization and Takeoff

With the defense of $90K, the market opens to a two-path scenario:

🟩 Immediate Bullish Scenario (more likely if $90K is maintained):

Target: $94,253

Subsequent consolidation: $95K–$97K

→ Surpassing this zone would be the key to reviving the main bullish trend.

🟥 Bearish Scenario (only if $90K is lost with a close):

Target: $85,000

→ Interesting liquidity area, but painful for STH.

Conclusion: Bitcoin is in the Value Zone... Only the Catalyst is Missing

We are facing a non-bearish market, but not explosively bullish either: an opportunity zone where patient investors tend to build positions.

There is undervaluation detected by independent metrics.

ETFs are injecting capital again.

The key support holds.

Technical levels offer a clear range to act.

This is a moment where the smart trader differentiates from the emotional one: prepares, observes, and executes when the market takes the first decisive step.


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