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Bitcoin has recovered the $90.000 mark and is fueling renewed confidence in the entire crypto market. Investors are again looking to reach six-figures as sentiment changes and the bullish calls return. But not all is what it appears to be. Even with the incredible price rise, there are still risks, particularly when global tensions increase between China and America. Market volatility is being injected by the ongoing geopolitical tension and trade war, which creates a fragile background for risky assets such as Bitcoin.
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Maartunn is a top analyst who shared an uncompromising view on the state of Bitcoin. On-chain metrics reveal a completely different picture. He said that his latest analysis showed the move upwards was mainly driven by derivatives, not organic demand. In his own words, he said that Bitcoin is a network of networks. “a ghost town,” With very few new activities or noticeable inflows of users.
As a result, the rally could be short-lived. As a result, investors need to be prepared for the next phase. Bitcoin’s price action Be cautious, especially when macroeconomic conditions worsen and derivative positions are about to deflate.
Bitcoin is facing resistance: The on-chain activities are lagging behind
Bitcoin now faces critical resistance, as bulls seek to reclaim $95,000. This zone could determine short-term market momentum. Bulls took control of the market after breaking above $88,600, and pushed price into new territory. To maintain the momentum of this rally, it will be necessary to sustain demand. Analysts say that the market may experience a healthy correction before it reaches its next peak, particularly in light of current conditions.
Volatility, uncertainty and fear continue to be dominant in the world despite a recent rally. This caution is largely due to the ongoing tensions in the world and an unstable macro-environment that has developed since US President Donald Trump was reelected in November 2024. Investors are hesitant to invest in risky assets as trade tensions with China and rising tariffs continue.
Maartunn, a top analyst shared some sobering news. on-chain analysis The X platform highlights a discrepancy between Bitcoin price and the network’s activity. According to his findings, the recent surge is largely driven by ETF flows and rising open interest in the derivatives market—factors that often precede a reversal rather than a sustainable rally. Maartunn describes Bitcoin’s current state as an “ghost-town,” Noting the absence of new, visible demand on chain
The divergence in price between network fundamentals and the present move raises concerns about its sustainability. Bitcoin’s ability to break through $95K will depend on a combination of a strong spot demand, and an increase in user activity. Trading should be cautious until then and traders are advised to watch the key support levels.
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Price Action Details: $95K In Sight
Bitcoin trades at $93,600 following several days of price bullishness that saw the cryptocurrency reclaim important resistance levels. Price has entered a phase of consolidation around $93K, with bulls preparing for an eventual breakout towards $95K. If the price continues to rise above this mark, it will open up the possibility of a surge towards the $100k milestone. This would signal renewed strength in the cryptocurrency market.
But the future is still uncertain. Bitcoin needs to hold the support level of $90K above it, despite short-term optimism. This will maintain a bullish market structure. A failure to do so could trigger a drop back toward the 200-day moving average near $88K—a level that has served as a key pivot for market structure over the past months.
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This area is closely monitored by traders as well as long-term investors, because a decline below $90K will likely put the recovery in jeopardy. In the midst of consolidation, it will be important to determine whether BTC can break out higher in price or if we are in for a temporary correction. Now, the $95K mark is seen as the next barrier in Bitcoin’s quest to regain its market dominance.
Chart from TradingView, displaying the featured image of Dall-E
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Source: www.newsbtc.com
