Bitfinex: BTC tests the resistance zone of $93,500-$95,000, entering a range consolidation phase

The Bitfinex Alpha report indicates that after Bitcoin rebounded from a low of nearly $80,800 in late November, it continues to test the key resistance zone of $93,500 to $95,000, with short-term price movements still constrained by factors such as inconsistent ETF fund flows.

Currently, Bitcoin is entering a dense supply zone formed by buyers at recent highs, with a cost basis between $92,100 and $117,400. As the price returns to this area, holders looking to break even may increase selling pressure, creating significant resistance above or facing "profit-taking pressure," which may keep the market in a range-bound oscillation. The derivatives market reflects a cautiously optimistic sentiment, characterized by a coexistence of long-term bullish positions and short-term bearish hedges.