Bitcoin breaks through $90,000, but warning signs may indicate a consolidation period ahead!

After experiencing a significant recent pullback, Bitcoin has begun to gradually recover, re-establishing itself at the key level of $90,000. Just yesterday, the cryptocurrency surged nearly 10%, reaching a high of $92,756 before a slight pullback. Currently, Bitcoin's price is around $90,156, down 0.6% in the last 24 hours.

📉 The market may enter a consolidation phase

Although Bitcoin's price has rebounded, analysts warn that the market may enter a consolidation period. According to analysis from CryptoQuant, the entry prices for short-term holders are converging, indicating that price fluctuations may slow down, and the status quo may be maintained without strong demand stimulation. Additionally, the 60-day and 200-day moving averages are tightening, and historically similar patterns have led to reduced market volatility.

🔮 Regulatory dynamics may become a key factor

Another factor that could influence Bitcoin's future trend is regulatory policy. Analysts point out that tomorrow's cryptocurrency summit will discuss key regulatory issues regarding cryptocurrencies, and if favorable policies are introduced, it could break the current price range and drive the market rebound.

📈 Technical indicators show potential upside

From a technical perspective, some analysts remain optimistic about Bitcoin. They note that the candlestick chart on the weekly timeframe shows strong buying pressure, indicating that key support levels have been defended. According to the Pi Cycle Top indicator, if Bitcoin breaks through $97,000, it could see a strong upward momentum, with a target price reaching $150,000.

Despite currently facing adjustment pressures, if market conditions improve, Bitcoin still has upward potential, and its future trend is worth monitoring!