Bitcoin (BTC) Reclaims $90K00, Fueling Renewed Optimism

Bitcoin has reclaimed the $90,000 mark, fueling renewed optimism across the crypto market. With sentiment shifting and bullish calls returning, many investors are once again eyeing a move toward six figures. However, not everything is as it seems beneath the surface.

Bitcoin has hit a critical resistance level as bulls attempt to reclaim the $95,000 price point, which could determine near-term momentum. Breaking above the $88,600 resistance sparked a key shift in market sentiment, enabling bulls to take charge and push price action into a new range.

However, to maintain this momentum and set up a run toward the highly anticipated $100,000, sustained demand will be essential. Analysts warn that a healthy retracement may occur before the next leg up, especially considering current market conditions.

Lit: Bitcoin faces critical resistance as bulls attempt to reclaim $95K[/url]

Volatility and uncertainty continue to dominate the landscape, with fear still lingering despite the recent rally. Much of this caution stems from ongoing global tensions and the unstable macro environment that has unfolded since US President Donald Trump’s re-election in November 2024.

With tariffs rising and trade negotiations with China growing increasingly tense, investors remain hesitant to commit fully to risk assets. This fragility is evident in the rapid shifts in market trends and the potential for swift reversals, especially if macroeconomic conditions deteriorate or derivative positions begin to unwind.

Top analyst Maartunn shared a sobering on-chain analysis on X, highlighting a concerning disconnect between Bitcoin’s price action and network activity. According to his findings, the recent surge is largely driven by ETF flows and increasing open interest in the derivatives market—factors that more often precede a reversal rather than a sustainable rally.

Maartunn describes the current state of the Bitcoin network as a “ghost-town,” where there is very little new activity or visible inflows from real users. This divergence between price and on-chain fundamentals raises questions about the sustainability of the current move.

For Bitcoin to push convincingly past $95K and set up a run toward $100K, stronger spot demand and an uptick in real user activity will likely be necessary. Until then, traders should approach the next phase of Bitcoin’s price action with caution and keep an eye on key support levels. A breakdown below $90K could negate the recent recovery momentum.