Bitcoin Surpasses $90,000 Again: Can This Rally Last?

Current Price Action: Bitcoin is trading around $90,000 after a volatile period, showing signs of recovery from a sharp decline, but remains below recent highs, indicating a corrective rebound rather than a definitive trend change.

Market Sentiment: The Fear & Greed Index indicates extreme fear among traders, suggesting heightened uncertainty and risk aversion, which historically correlates with increased volatility rather than immediate trend reversals.

Technical Indicators: Momentum indicators are neutral, with Bitcoin below both the 50-day and 200-day moving averages, maintaining a bearish technical structure despite short-term price stabilization.

Key Levels to Watch: The $90,000 level serves as a psychological pivot, with the 50-day moving average near $93,000–$94,000 acting as the first major resistance, while failure to maintain the current recovery could lead to renewed downside risks.