Bitcoin reached a recent high in the early hours of yesterday, touching around 94,435. After that, the bullish momentum failed to sustain, and the market quickly entered a pullback mode. During the early trading session, selling pressure gradually eased, with the price dropping to around 89,329. Subsequently, the entire midday period saw the price fluctuate within a narrow range around the 90,000 mark, as bulls and bears engaged in a preliminary battle within this zone. In the evening, market sentiment experienced a brief fluctuation, with the price briefly spiking to around 89,200, but this low was not sustained. It quickly rebounded, reaching a high of approximately 93,500. However, the rebound momentum was limited, and the price soon started to fall again. From a short-term trend perspective, Bitcoin is clearly in a weak oscillating state, with recent gains gradually being pulled back. Notably, the key support level at around 89,000 has not been broken, providing an important bottom support for the market and indicating that the current oscillating pattern is unlikely to undergo a fundamental change in the near term. From a daily chart perspective, Bitcoin's price is currently operating in the mid-range zone, entering a consolidation phase overall, with the key support of the mid-range remaining intact, further confirming the short-term consolidation trend. For investors, the 90,000 level has become the core battleground of the current bulls and bears. Attention should be paid to resistance in the 93,500-94,200 range above, while support at around 89,000 below must be closely guarded. A breakout or breakdown of this zone could signal a new directional shift for the market.