Bitcoin's current market situation today is a typical range-bound oscillation, with no particular surprises. According to data from the early hours of January 12th, the price hovers around $90,670, with a 24-hour increase of only 0.1%, and the volatility is tightly compressed. Looking at yesterday, the highest point reached $90,706, and the lowest held at $90,291. The overall trend is like "stepping," lacking the momentum for a breakout. In RMB terms, it's roughly just over 8.18 million yuan, with a 24-hour return rate of 0.25%, which can be considered negligible.

Why is it so "honest and steady"? The core reason is that the market is digesting various pieces of information from the past. In early January, Bitcoin spot ETFs absorbed some funds, but in the following trading days, funds continued to flow out, and institutional investors remain cautious, unwilling to significantly increase or decrease their positions. Additionally, after the non-farm payroll data was released last week, expectations for the Federal Reserve's future monetary policy changed, and traders are now waiting for clearer official signals. In this "uncertain direction" moment, no one wants to take the initiative, leading to the current "powerless" situation.

From a technical perspective, the $91,500-$92,000 range above constitutes a clear resistance, with previous attempts to break through unsuccessful; the $90,000 level below is an important psychological barrier, and below that, around $89,000, there is substantial buying support. Most likely, Bitcoin will continue to fluctuate within this range, unable to find a clear breakout point. Honestly, the most prudent strategy at this stage is to observe more and operate less, waiting for the market to give more reliable signals before making decisions. Meanwhile, the performance of mainstream coins like Ethereum and SOL is also worth paying attention to, as they often reflect the true market sentiment.