When the Asian trading session opens, Bitcoin encounters cold reception again at the key $90,000 level. The latest data shows BTC at $90.69K, just a step away from the 24-hour high of $92.52K, but selling pressure remains resolute, causing the price to fall back to around $87,900. This repeated tug-of-war has led analyst Michaël van de Poppe to bluntly state: Bitcoin is "repeatedly testing the key resistance zone, forming a range-bound consolidation."
Why does the $90,000 level repeatedly fail?
From a technical perspective, the $90,000-$92,000 threshold has become a hurdle for the bulls. Historical trends show that whenever BTC approaches $90,000, a series of lower highs occur.