Recently, Bitcoin's market performance has indeed been quite unstable. It’s not breaking out strongly on the upside, nor is it falling sharply on the downside; instead, it’s oscillating within the range of 93,000 to 98,000. It seems that macroeconomic conditions, capital flows, and market sentiment are still engaged in a tug-of-war.

From a technical perspective, there are just a few key points:

If it can stabilize above 98,000 with sufficient volume, then the $100,000 psychological barrier might really be within reach. Conversely, if it fails to hold the 93,000 level, the next support is around 90,000. If that level also breaks, the situation could become serious.

Key factors to watch include: the Federal Reserve’s interest rate movements, which directly influence Bitcoin; fluctuations in large institutional holdings and ETF capital inflows and outflows, which can significantly sway market momentum; plus global regulatory policies and geopolitical tensions, which can suddenly disrupt the market like throwing a stone into water.

What’s the safest way to operate? Short-term traders should focus on these critical support and resistance levels. Breakouts with low volume are often false signals—don’t get fooled. If you’re a medium- to long-term investor, consider entering in stages, controlling your positions, avoiding chasing the trend, and not rushing to buy high or sell low. Whatever your strategy, make sure to set stop-loss orders properly, as black swan events can happen unexpectedly.