This week's performance of Bitcoin has indeed been impressive, with the key resistance level of 95,000 being directly broken. But to be honest, behind the lively scene, there are undercurrents.

A careful look at the market reveals that spot trading volume has not kept pace with the price increase. Liquidity has long since bottomed out, and bears have encountered a series of liquidations near 95,000. This rebound is largely driven by forced liquidations pushing the price up. Unlike the solid, mindless upward trend last year, this is a completely different story.

From a trading perspective, chasing the rally now is actually quite awkward. My suggestion is to treat 95,000 as a line in the sand. As long as this support level holds steady, there is a possibility of a new round of bullish momentum once the price reaches the 100,000 mark. Conversely, if it breaks below 95,000, it is likely to fall back to the 80,000 range for further consolidation.

At this level, observation is better than action.