Bitcoin continued to trade sideways near $92,000 on Friday, failing once again overnight to break through $93,000, which further solidified the recent consolidation range. The current market structure is still dominated by bears suppressing prices in the mid-$93,000 range and bulls providing support around $91,000, but neither side has enough momentum to establish a clear trend. Looking at the past month, Bitcoin remains in a downward structure since the early November high, and the recent rebound has even formed a lower high, suggesting that the corrective trend remains unbroken. The weak momentum and rapid pullback after rebounds indicate that liquidity above $93,200 is still thin. If $91,000 is breached, key support lies in the $90,000–$90,500 range; to the upside, a breakout above $93,200 is needed to reverse the short-term downtrend.

Recently, on-chain data for XRP shows that large holders are aggressively accumulating, with total holdings reaching 48 billion tokens, indicating an increase in individual whale holdings. Market sentiment is sluggish, and social platforms are filled with panic-driven commentary; however, such situations often signal that a reversal may be imminent. Meanwhile, XRP's ETF products are attracting institutional funds, and after a price pullback, XRP is hovering near key support levels. Technical indicators are flashing buy signals, suggesting the market may be turning.