#比特币价格走势 Seeing the discussions in the community these days, my thoughts have returned to similar scenarios from a few cycles ago. The $90,000 level indeed feels familiar—every time we approach an integer threshold, the market shows such divergence and hesitation.

The pressure from liquidity drying up, traders worrying about tight funding before Christmas—these are nothing new. I remember at the end of 2017, similar liquidity issues triggered several rapid dips. Back then, the derivatives market wasn't as developed as it is now, but the logic of long squeeze was the same—everyone was betting on the same side, ultimately leading to collective escape.

Now, with volatility dropping to historic lows, this is precisely a signal. Low volatility often precedes a storm. The increasing divergence in the Chinese community actually reflects a split in participants' judgment of the current situation—some are bearish on the $90,000 level, while others remain bullish. But this divergence itself cannot determine the direction; the real turning point usually occurs when liquidity is most fragile.

Historically, liquidity drying up is rarely a reason to be bearish; rather, it’s a prelude to volatility. The key is whether, after this round of adjustment, the $90,000 level will truly become a solid resistance or just a temporary station. Those who have experienced several cycles know that short-term disagreements cannot fundamentally change the long-term trend—the question is who can endure until the trend truly reveals itself.