Analysts: Bitcoin is unlikely to recover the key resistance zone of $95,000-$96,000 in the near term; it's too early to talk about a bull market.
TL;DR
Bitcoin is unlikely to reach the $95,000-$96,000 resistance zone soon due to market damage from past declines and liquidations. It's too early to declare a bull market, but recent call option buying suggests a potential bottoming signal.
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According to Odaily Odaily, Adam, a macro researcher at Greeks.live, stated in an article on the X platform that the decline since August of last year and the two major liquidations in October and November have severely damaged the market. Bitcoin is unlikely to recover the key resistance area of $95,000-$96,000 in the near term. On the other hand, various data have not shown significant improvement, making it premature to talk about a bull market. However, in terms of options data, there has been a recent surge in large-scale buying of call options, indicating a clear bottoming signal.