Analysis: Multiple indicators are simultaneously strengthening; $90,000 for Bitcoin becomes a watershed between bulls and bears.

Bitcoin is consolidating above $90,000, with multiple on-chain and market sentiment indicators showing signs of improvement, potentially signaling a "buy" opportunity. Market focus is on whether this key support level can hold. On-chain, the Hash Ribbons indicator shows that the miner capitulation phase is nearing its end and transitioning into a hashrate recovery phase. This indicator, based on the 30-day and 60-day moving averages of the network hashrate, has historically issued positive signals after miner selling pressure subsided and before a new round of price increases. Capriole Investments points out that the current price range is more aligned with a long-term investment strategy. On-Chain Mind also states that this is one of the strongest Hash Ribbons signals they have recorded, typically indicating a decrease in forced selling. Regarding sentiment indicators, the Fear & Greed Index has shown structural improvement. CryptoQuant data shows that its 30-day moving average has crossed above the 90-day moving average, forming a typical "golden cross." This pattern often appears after a prolonged period of market downturn and price compression, historically accompanied by several weeks of rebound. From a technical perspective, $90,000 is considered the core level of the current battle between bulls and bears. BTC is currently trading in the $90,000 to $92,000 range, which coincides with both the 4-hour 200-period moving average and key weekly support. Analysts believe that as long as this level holds, the bullish structure remains intact; however, if the weekly chart falls below $90,000, the price may retrace to the $80,000 to $85,000 range, with further support levels around $74,500 and the 200-week moving average. Overall, the simultaneous improvement in on-chain data, sentiment signals, and technical patterns makes $90,000 a crucial level determining Bitcoin's short- to medium-term trend. (Cointelegraph)