Bitcoin Fails to Surpass Major Resistance Amid Slowing Trading Activity

crypthub

about 11 hours ago

Current Price Stalls

Bitcoin is trading around $91,437, a modest 0.35% rise in the last 24 hours. The rally follows a sharp rebound from multimonth lows near $80,000. Analysts note that the price now meets critical resistance between $92,000 and $95,000. Sustained upward moves will likely require substantially higher trading volumes.

Key Technical Zones

Swissblock flags a break below the yearly open at $93,300 as a pivotal trend shift. Bulls must hold the $83,000‑$85,000 range to form a durable bottom. Reclaiming $94,000‑$95,000 is seen as essential for recovery. Glassnode data shows about 500,000 BTC exchanged between $93,000 and $96,000, creating a dense resistance cluster, with a further barrier near $100,000‑$108,000.

Volume Weakness

On‑chain transfer volume dropped roughly 20% to $87 billion over the past week, indicating reduced network activity. Daily spot volume sits near $12.8 billion, well below cycle peaks. The recent price push above $91,000 occurred without a matching volume surge, suggesting limited conviction. Historically, strong rallies have been preceded by notable spikes in trading volume.

Potential Bullish Triggers

The taker cumulative volume delta has moved toward neutral after a period of negativity, hinting at possible buyer dominance. A shift to sustained buying could reignite upward momentum. Similar buyer‑heavy conditions between May and July preceded a 32% rally toward the previous $123,000 peak. Breaking the $97,000‑$98,000 zone would confirm recovery and pave the way toward the psychological $100,000 milestone.