Bitcoin prices fluctuate within a narrow range of $84,000 to $91,000, with market sentiment entangled in a delicate balance between panic selling and short covering.
Currently, there is a core contradiction: the market is close to a local bottom, with conditions for stabilization, but is far from healthy. Over 7 million bitcoins are in an unrealized loss state, reflecting the difficulties the market faces in regaining the true market average.
The S&P 500 index is nearing its historical highs, while Bitcoin struggles within a narrow range, exacerbating the structural weakness in the market.
