As of April 24, 2025, the Bitcoin price has been fluctuating within the range of $93,000 to $95,000, with intensifying long and short market battles. Technical indicators show that the daily RSI is nearing the 70 overbought zone, indicating potential short-term pullback pressure, but there is strong support around $92,000 to $93,000. The market is focused on the Federal Reserve's expected interest rate cut in June (probability 55.8%) and the upcoming CPI data; if inflation is lower than expected, it could strengthen bullish sentiment. On-chain data shows that long-term holders continue to absorb selling pressure, but short-term holders are forming resistance near $95,000, with some investors taking profits leading to a lack of upward momentum. Institutional funds continue to flow in through ETFs (totaling nearly $100 billion), combined with the lagging effect of Bitcoin halving, indicating a long-term bullish outlook towards a target of $120,000 to $200,000. Caution is warranted regarding high leverage positions (with total contract positions exceeding $50 billion) that may trigger liquidity risks.