Here’s a fresh snapshot and analysis of what’s going on right now with Bitcoin ($BTC )— what’s driving it, where risks lie, and what to watch for in the near-term.
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📊 Market Pulse & What’s Happening Now
• Bitcoin recently reclaimed the $90,000+ level after a rough few weeks, trading near $91,200, amid renewed buying and improved market sentiment. 
• That said — the recovery is fragile. Some analysts see BTC’s bounce as part of a volatile consolidation rather than a firm uptrend. 
• Long-term holders still appear to be realising profits. That reduces long-term downside stability for now. 
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🔎 Technical & On-Chain Signals
• According to a recent on-chain metric — the Short-Term Holder SOPR — $BTC is showing signs of capitulation (selloffs by short-term holders), which historically aligns with local bottoms. 
• Derivatives markets reflect this too: open interest and funding rates have dropped, suggesting many leveraged longs have been flushed out and volatility may ease short-term. 
• But there’s a catch: some watchers warn that until BTC convincingly breaks above the next major resistance (near ~$91,500), the rally could falter — testing support around the mid-$80,000s. 
