Bitcoin is currently hovering around $93,000, with the price at $92,800 looking neither here nor there. But there's one number you need to keep an eye on—$97,000.

That's the watershed. If it breaks above? Bullish sentiment will pick up immediately, and in the short term, seeing $100,000 to $102,000 isn't a dream. After all, December's historical data is right there, with an average increase of 9.7%. But if it can't break through? That's trouble—$86,000 to $88,000 is a strong support zone below. Can't hold it? $83,000 could come quickly.

Looking at the current market: total market cap is $3.2 trillion, with 24-hour trading volume at only $120 billion—over 30% lower than the November peak. Where did the money go? Sitting on the sidelines. Fear and Greed Index is only at 26, deep in extreme fear territory. BTC dominance is back to 55%, altcoin season index is just 21, funds are crowding into Bitcoin for safety, while altcoins? Out in the cold.

On-chain data is a bit interesting: selling pressure is easing, whales have closed out a lot of short positions. But spot CVD is still negative—in plain terms, this rebound is mainly supported by short covering, not fresh capital flowing in.

How about other major coins?
Ethereum is up 8%, back to $3,050. There's a lot of bullish sentiment in the options market, but spot buying isn't keeping up.
SOL is down 2%, at $128. If it breaks $120, $110 might not hold.
XRP is an exception, up 1% at $2.10, with continued ETF inflows providing some confidence.

That's the current market: unclear direction, cautious sentiment, and picky capital. $97,000—let's see if it can break through.