Bitcoin has achieved a significant technical rebound, trading near 91,700 dollars and registering a 3% rise in the last 24 hours. Despite this momentary relief after last week’s stress, general market sentiment remains anchored in “fear” territory. The official Strategy (MicroStrategy) account took advantage of the holiday to send a message of unity: “You are more powerful not as an individual, but with the support of a family. To our team, our shareholders, and the Bitcoin community, thank you for being part of ours.”
The current recovery raises doubts about its actual durability. Although the price has climbed, analysts’ attention is now focused on whether the market can rebuild its depth and attract steady cash demand. The 90,000 dollar level functions primarily as a waystation inside the current range, while the truly relevant psychological and technical barrier remains the 100,000 dollar level, which acted as a pivot in previous months.
Is this rebound a sign of real strength or a liquidity trap?
For this recovery to be sustainable, it is imperative to observe thicker order books on BTC and ETH pairs, as well as narrower spreads during the U.S. session. These conditions would indicate that market makers are willing to warehouse inventory and that spot buyers are replacing short-term speculators. Without these organic Bitcoin flows, intraday gains tend to weaken quickly at the close of the day, when liquidity shrinks drastically.
On the other hand, net stablecoin issuance and exchange balances are vital indicators to distinguish between real capital inflows and simple position covering. Flat or negative issuance can undercut any rebound attempt, even if prices look better visually. Furthermore, the direction of exchange-traded funds (ETFs) continues to shape daily closes; share creations support strong finishes, while persistent redemptions cap rallies.
The macroeconomic context continues to play a fundamental role. A firmer dollar or tighter financial conditions can reduce traders’ willingness to hold risk. Currently, correlations have tightened, so headlines about policies or corporate earnings disproportionately influence the crypto sector. Without a solid mix of ETF creation and rising stablecoin issuance, the market remains vulnerable to sudden shocks that could send the price back to the support levels just surmounted.
