#2026年比特币价格展望 $BTC repeatedly fluctuated around the $91,000 mark, and the 90,000 level has become a psychological defense line for both bulls and bears.

The market is now particularly interesting — on one side, spot ETF outflows have been bleeding for three consecutive days, with net outflows reaching $398 million yesterday, indicating that institutional players are indeed withdrawing in a measured manner; on the other side, the Federal Reserve released an additional $59.4 billion in liquidity this week, and the macro environment is still marginally improving. This conflicting situation is directly reflected on-chain: whale short positions dominate (long-short ratio 0.42), yet clear signs of bottom-fishing can be seen around $90,200; market sentiment has cooled from greed to neutrality, as investors cautiously walk the tightrope between policy battles (such as the CLARITY Act on January 15) and technical analysis.

This kind of oscillating market often redefines the true support levels. The area between $88,500 and $90,000 is filled with liquidation orders and institutional psychological thresholds, and a successful breakthrough above $94,500 is necessary to open a new chapter. At this stage, instead of guessing the future market direction blindly, it’s better to stay patient and wait for signals.