Bitcoin Battles Back to $90,000: Can $93,000 Ignite a New Rally? On January 29, news reports indicate that Bitcoin's price rebounded before the Wednesday FOMC meeting, once again reaching the $90,000 mark. However, selling pressure above this level is evident, and it has not successfully broken through. Currently, BTC is hovering between $86,000 and $90,000, with market focus on whether the range from $90,000 to $93,000 can turn into effective support. On-chain and technical data show that Bitcoin's short-term structure is converging. Crypto India co-founder Aditya Singh pointed out that the 100-week moving average around $87,500 is an important support level; if this is lost, the price may test the $86,000 region again. Meanwhile, the 50-day moving average near $90,000 forms the first resistance, while the 100-day moving average around $94,000 is a key level for bulls to break through. Analyst Jelle believes that the recent downtrend has been broken, with signs of higher lows on the weekly chart. If the price re-establishes above $93,000, it will send a stronger bullish signal. AlphaBTC also mentioned that there is a significant liquidity concentration around $93,400, which may lead to short-term consolidation. However, a volume breakout could target the $98,000 region. Institutional fund movements are also closely watched. Glassnode data shows that the 30-day moving average of capital flow into the US spot Bitcoin ETF is gradually approaching neutrality, indicating that selling pressure from earlier is weakening. Nevertheless, the market still mainly relies on the confidence of spot holders rather than new institutional buying. If subsequent funds turn into net inflows, it will significantly boost upward momentum. In terms of corporate holdings, Strategy led by Michael Saylor continues to increase its positions. Last week, the company bought an additional 2,932 Bitcoins, bringing its total holdings to 712,647, demonstrating that large institutions remain optimistic about long-term value. Against the backdrop of a complex macro environment and fluctuating policy expectations, Bitcoin is at a critical turning point. If $93,000 is successfully broken and held, the market may enter a new upward phase; otherwise, the price could continue to oscillate within a high range. #金价突破5500美元