Analysis: Multiple indicators turn bullish simultaneously, $90,000 becomes the dividing line between bulls and bears for Bitcoin

According to Odaily, Bitcoin has been oscillating above $90,000, with multiple on-chain and market sentiment indicators warming up in sync, releasing potential "buy" signals. The market's focus is on whether this key support level can remain effective.

On the on-chain side, the Hash Ribbons indicator shows that the miner capitulation phase is gradually coming to an end and is beginning to transition into a hash rate recovery zone. This indicator is based on the 30-day and 60-day moving averages of the network's total hash rate. Historically, it has often sent positive signals after miner selling pressure has been released and before a new price rally begins. Capriole Investments pointed out that the current price range is more suitable for long-term allocation. On-Chain Mind also stated that this is one of the strongest Hash Ribbons signals on record, which usually means forced selling is decreasing.

In terms of sentiment indicators, the Fear and 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 classic "golden cross." This pattern often appears after the market has experienced a prolonged period of stagnation and price compression, and historically has been followed by a rebound in the subsequent weeks.

From a technical perspective, $90,000 is seen as the core battleground between bulls and bears. BTC is currently trading in the $90,000 to $92,000 range, which coincides with the 4-hour 200 moving average and a key weekly support level. Analysts believe that as long as this level is maintained, the bullish structure remains intact; if the weekly close falls below $90,000, the price may retrace to the $80,000 to $85,000 range, with further support 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 critical threshold for determining Bitcoin's short- and medium-term trend.