Bitcoin's recent performance has indeed been a bit weak. The day before yesterday, it was still in a breakout phase, but today it has turned into a tug-of-war around the 90,000 price level, indicating a lack of bullish momentum in the market. Unless a major negative news event suddenly hits and causes a sharp drop that could trigger a rebound, this bottoming process seems somewhat futile.

It's no longer a trending market; it has shifted into a situation of hunting for stops. Recently, the most concentrated liquidation zones for longs are around 90k, while the truly fertile short accumulation areas are above 95k. Both sides are traps, indicating that the short-term market has not formed a clear direction, mainly just repeatedly harvesting within this range.