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Recently, Bitcoin's performance around the $92,000 level has attracted a lot of attention. Industry analysts point out that BTC is facing strong resistance from the bears at this price level, which looks like it has fallen into a "beautiful trap." From a technical perspective, this failed breakout might actually signal a bullish trend, but the monthly resistance level remains a hidden concern that should not be underestimated.
From a more pessimistic point of view, Bitcoin could even continue to test lower levels. Market sentiment during this critical period appears somewhat conflicted — is the failed breakout a trap or a genuine top? Market participants are divided in their opinions.
Let's also look at the movements of other cryptocurrencies. Monero (XMR) is considered to have several breakout opportunities, but most altcoins haven't been so lucky. For example, Litecoin (LTC) has disappointed many, with its subsequent performance seeming lackluster. Solana (SOL) appears to be entering a consolidation phase, with no significant volatility expected in the short term.
A very practical issue here is that many people are still holding onto underperforming altcoins, but the opportunity cost of doing so is huge. In a bear market or sideways trading environment, choosing the wrong coins can lead to losses far more severe than they seem.