$90,000 is not just a number; it is the touchstone of the "bottom line" in this bull market.
Although the current price of Bitcoin has adjusted, if the key support at $90,000 holds, the door to $120,000 may have quietly opened.
Many people only see the pullback but overlook that this "deep squat" is precisely the preparatory action for the next wave of peak.
From a structural perspective, this is not a collapse-level decline; rather, it is a typical consolidation action in the middle of a bull market, aimed at clearing out floating capital and squeezing out short-term leverage bubbles.
Interestingly, the on-chain inflow of mainstream funds remains stable, with no obvious signs of escape. This indicates that the core bulls have not left; they are simply changing posture to continue harvesting.
