1. Overview of the Latest Market Dynamics

Today, Bitcoin has re-stabilized above the $91,000 mark after short-term fluctuations. A major factor driving the rebound is the strong market expectation for the Federal Reserve to cut interest rates this week, with traders pricing in a probability of over 90% for a rate cut.

Despite returning to above 90,000, market momentum shows divergence. The on-chain data indicator SOPR (Spent Output Profit Ratio) has dropped to its lowest level since early 2024, which typically suggests that the behavior of long-term holders cashing in on profits may be nearing an end, potentially easing selling pressure, and is often viewed as a technical signal for market bottoming.

2. Key Technicals and Bull-Bear Game Focus

The current market focus is on several key technical levels that will determine the next direction.

Bullish Key Conditions and Targets

Recent resistance level: $91,650 is the first key resistance, and an effective breakthrough is expected to test the stronger resistance area of $93,000-$95,000.

Medium-term target: If the above area can be successfully broken and stabilized, the next target will be $98,200, or even around $107,000.

Bearish Risks and Key Support

Recent support level: The primary defense line is the $87,800-$89,500 range. The second support area is $83,822-$82,477.

Risk warning level: A key Fibonacci support (around 0.382 retracement level, with exact points not specified by analysts) must be maintained on the weekly level; if effectively breached, the market structure may weaken, and prices will test the April low around $76,000. A stronger historical support level is found in the $74,496-$71,237 range. #美联储重启降息步伐 #加密市场观察