Bitcoin returned to the border of 104 thousand dollars! Real jump or bullish trap?

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Bitcoin’s recent bounce back above the $100,000 mark has breathed new life into the crypto market, but analysts warn that the surge may just be a short-term blip, rather than the start of a true uptrend.

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Bitcoin rallied from Wednesday’s low in the $99,600 range to reach the $103,900 level, according to market data. Analyst Willy Wu says liquidity is returning and a real rebound is likely in the coming weeks. However, there are still no strong signs of extensive accumulation.

According to CryptoQuant data, about 28% of bitcoins are currently held at a loss; A level that in the past has usually been the forerunner of major comebacks. However, some experts, including MEXC’s Sean Young, believe the recent move is more due to hedging of short trades and the influx of spot liquidity than a return of long-term confidence.

According to analysts, to confirm a stable floor, the market needs continued accumulation of long-term holders and stabilization of the funding rate. If the weekly price candle closes above $103,000, there is a possibility that the market will improve until 2026; Otherwise, the downward trend may continue to the support range of $93,000 to $88,000.