Bitcoin repeatedly tests the key resistance zone between $93,500 and $95,000, with profit-taking pressure possibly continuing the range-bound oscillation.

【CoinPush】Bitcoin has rebounded from a low of approximately $80,800 in late November to now, continuously battling in the critical zone between $93,500 and $95,000. In the short term, the instability of ETF capital flows has become one of the main factors suppressing prices.

More notably, Bitcoin is currently precisely stepping on a dense accumulation zone formed by recent high buyers. The cost basis of these holders ranges between $92,100 and $117,400—a fairly wide span. When the price returns to this area, investors eager to break even will increase their selling pressure, known in the industry as “break-even selling pressure.” This psychological game often results in obvious selling pressure above, making it difficult for the market to break through in the short term and maintaining a range-bound oscillation pattern.

From the performance of the derivatives market, participants appear to be following suit—some are positioning for bullish moves, while others are hedging against downside risks. This cautious optimism further confirms the current market’s dilemma.