Bitcoin Holds Near $92,000 as Volatility Compresses and Mixed Flows Cap Upside

Overview

• Technical gauges show a squeeze in Bollinger Bands to the tightest since mid-2025, with analysts flagging $94,000 as near-term resistance and $88,000–$90,000 as key support.
• On-chain data point to short-term holders selling at a loss (STH SOPR below 1) and negative apparent demand of roughly 106,000 BTC over 30 days, indicating subdued new buying.
• Bitfinex and mining firm BitRiver caution that dense supply from prior buyers between roughly $92,100 and $117,400 and recent spot ETF outflows could limit near-term breakouts.
• Macro caution persists as markets await U.S. inflation data after Powell’s comments, with prediction markets pricing low odds of a sustained move above the mid-$90,000s.
• Altcoin signals diverge: XRP is pinned near a $2 pivot with weekly ETP volumes above $219 million, while Dogecoin trades below $0.14 with sharply reduced futures open interest and downside risk toward $0.13–$0.12.