Analysts say the recent market rebound is far from a bull market, and Bitcoin faces significant resistance in breaking through $100,000.

Adam, a macro researcher at Greeks.live, wrote on the X platform that the recent rebound in the crypto market is far from a bull market. Market sentiment is currently very poor, and Bitcoin faces significant resistance to breaking through $100,000. Unless there is extremely strong buying pressure to push it up, the gradual decline will continue. Options data confirms this: implied volatility (IV) continues to fall, skew remains negatively biased, and put options continue to account for the largest share of trading volume—all signs of market weakness.