Analyst firms note that for Bitcoin to update its all-time high, the price needs to break through several major supply zones where large players (“whales”) are concentrated and selling activity tends to increase.
Key Resistance Levels
According to Glassnode, the main obstacles on the way to a new ATH are “large buyer supply clusters” in the $93,000–96,000 and $100,000–108,000 ranges. These are the areas where the market is likely to face significant resistance from investors looking to lock in profits.
Earlier, Bitcoin managed to confidently break through the $89,000–90,000 zone, which, according to Bitcoin Vector, signaled an exit from the “high-risk area” and a weakening of the most intense selling pressure.
Analysts stress that the market now needs to form a fresh upside impulse and break out of the prolonged consolidation phase that has persisted since the last all-time high was reached.
Current Market Picture
At the time of writing, Bitcoin is trading around $91,356, showing roughly 6% growth over the past seven days (according to CoinGecko).
Bitcoin Vector specialists believe that to confirm and strengthen the uptrend, the market needs a decisive breakout of the consolidation zone in the $93,500–95,000 range.
They also note that a key role in this process belongs to the “risk-off” indicator, which should move down into the “safe” zone. This would indicate that buyers are firmly dominating sellers and that a sustainable bullish impulse is starting to take shape.
Without such an impulse, analysts warn, any upward moves will remain tactical bounces rather than a full-fledged structural recovery of the market.
Selling Pressure is Easing
Despite the fact that, according to Bitcoin Vector, the market is still in a “heightened risk zone,” conditions are gradually stabilizing.
Experts highlight several positive signs:
- selling pressure is clearly easing;
- spot demand for Bitcoin is “finally starting to shift the balance of power” in favor of buyers.
They call a retest of the $94,000–95,000 range a crucial test for confirming a trend reversal. In their view, this zone will be decisive in answering the question of whether the worst is already behind us.
Investor Sentiment: Fear That Often Signals a Reversal
A popular market sentiment indicator still shows a state of “extreme fear,” but its readings are slowly rising, suggesting a gradual improvement in market mood.
Santiment analysts point out that historically, an increase in bearish sentiment on social media has often preceded positive impulses in the crypto market.
According to them, many major reversals occur when retail investors almost completely lose hope. Markets often move against the crowd’s expectations, and the current setup may turn out to be another example of this pattern.
ETF Flows Reflect Cautious Optimism
The shift in sentiment is also visible on the institutional side. Bitcoin ETFs have been recording moderate capital inflows for two days in a row, signaling a return of interest from more conservative investors.
Ethereum-based funds have shown net inflows for four consecutive trading sessions, further reinforcing the picture of a gradual recovery in demand for crypto assets.
Bottom Line
Bitcoin remains in a high-risk zone, but:
- selling pressure is fading;
- spot demand is increasing;
- market participants show cautious optimism;
- ETFs are seeing stabilizing inflows.
The key levels for bulls remain $93,500–95,000, as well as the larger supply clusters in the $93,000–96,000 and $100,000–108,000 ranges. A successful breakout above these areas could open the way to a new all-time high, while failure would likely keep the market stuck in a phase of tactical rebounds and elevated uncertainty.
